NL Seasonal Volatility by Day of Year

Insights: Historically, implied volatility for NL tended to rise the most in December with a median IV Of 58.0, while May tended to be when implied volatility declined To its lowest levels With median IV Of 51.0. Historically, the median IV for the current month of March was 55.1 compared to the current IV of 64.7. The IV level in April following March tended to be lower, with a median IV of 51.7.