REI Options History — April 2023

In April 2023, REI traded between $1.69 and $2.13. ATM implied volatility averaged 57.8%, placing in the 16.5% IV rank vs the trailing year. The 30-day expected move averaged 17.2%. IV traded below realized volatility by 15.7% (HV 20d: 73.5%). Max pain ranged from $1.50 to $2.00. Net GEX was positive for 19 of 19 trading days. Term structure was in contango for 10 of 19 days. Put/call ratio averaged 0.13.

Notable Days

2023-04-18: Highest Volume — 5,482 contracts
2023-04-12: Largest IV spike — 41.6% change
2023-04-21: Highest IV Rank — 31.5%
2023-04-21: Largest Expected Move — 21.6%

Monthly Statistics

Metric	Avg	Min	Max	Open	Close
Price	$1.93	$1.69	$2.13	$2.13	$1.81
Max Pain	$1.58	$1.50	$2.00	$2.00	$1.50
ATM IV	57.8%	42.1%	75.2%	46.4%	45.2%
Expected Move	17.2%	12.7%	21.6%	13.3%	13.0%
HV 20d	73.5%	69.4%	79.0%	73.1%	79.0%
HV 60d	61.3%	57.6%	64.8%	57.6%	64.8%
IV Rank	16.5%	3.0%	31.5%	6.7%	5.6%
IV Percentile	11.6%	1.2%	32.1%	2.0%	2.8%
Term Structure	0.9%	-44.5%	39.0%	10.1%	39.0%
VWIV	63.9%	44.8%	80.4%	49.3%	44.8%
Skew 25d	1.9%	-26.5%	49.2%	-0.1%	18.1%
Skew 10d	16.9%	-6.2%	142.2%	21.9%	-2.0%
Call IV 25d	56.6%	34.5%	81.8%	44.5%	34.5%
Put IV 25d	58.5%	38.8%	118.6%	44.4%	52.6%
Bid-Ask Spread %	47.91	15.88	84.36	44.69	16.84
Gamma HHI	0.34	0.31	0.38	0.31	0.34
Net GEX	83.8K	52.3K	101.2K	92.6K	79.3K
Net DEX	-2.5M	-4.1M	-814.6K	-3.8M	-1.7M
Net VEX	-32.6K	-38.3K	-26.8K	-37.0K	-29.3K
Div Yield	0.0%	0.0%	0.0%	0.0%	0.0%
P/C Ratio	0.13	0.00	0.67	0.05	0.00
Total Volume	1,180.211	218	5,482	3,614	632
Total OI	90,392.474	85,361	96,716	85,361	91,182

Daily Data (19 trading days)

Date	Price	Max Pain	ATM IV	Exp Move	HV 20d	IV Rank	VWIV	Skew 25d	Term Str	GEX	DEX	VEX	P/C	Spread %	Call Vol	Put Vol	Call OI	Put OI
2023-04-03	$2.13	$2.00	46.4%	13.3%	73.1%	6.7%	49.3%	-0.1%	10.1%	92.6K	-3.8M	-37.0K	0.05	44.69	3,450	164	58,082	27,279
2023-04-04	$2.05	$2.00	45.3%	13.0%	72.5%	5.7%	55.0%	-2.2%	16.8%	85.7K	-3.4M	-36.9K	0.02	46.57	578	14	59,890	27,407
2023-04-05	$2.12	$2.00	51.5%	14.8%	73.2%	11.0%	61.8%	4.1%	14.5%	92.6K	-3.8M	-38.3K	0.00	45.67	362	1	60,386	27,409
2023-04-06	$2.04	$1.50	49.5%	18.0%	73.1%	9.3%	62.0%	-9.7%	7.5%	84.9K	-3.4M	-36.8K	0.02	68.39	244	5	60,524	27,410
2023-04-10	$2.12	$1.50	67.1%	19.3%	73.2%	24.5%	69.5%	-5.9%	-3.4%	93.3K	-3.8M	-36.8K	0.07	29.10	808	57	60,599	27,414
2023-04-11	$2.12	$1.50	42.1%	19.6%	73.0%	3.0%	69.5%	49.2%	7.3%	97.3K	-4.1M	-36.3K	0.42	84.36	312	131	60,626	27,426
2023-04-12	$2.08	$1.50	59.7%	17.1%	73.5%	18.1%	70.9%	-11.0%	0.9%	95.2K	-3.4M	-35.7K	0.00	83.05	2,459	1	60,519	27,453
2023-04-13	$1.90	$1.50	65.0%	18.6%	70.9%	22.7%	65.1%	19.2%	-4.3%	82.9K	-2.3M	-32.2K	0.09	22.09	1,165	109	62,708	27,454
2023-04-14	$2.00	$1.50	70.4%	20.2%	72.8%	27.3%	71.4%	29.8%	-1.7%	96.4K	-3.1M	-34.4K	0.25	80.53	175	43	63,081	27,520
2023-04-17	$1.94	$1.50	58.5%	16.8%	73.2%	17.0%	72.6%	6.5%	8.2%	97.7K	-2.6M	-32.8K	0.04	68.56	727	30	63,226	27,561
2023-04-18	$1.90	$1.50	64.7%	18.5%	72.3%	22.4%	64.8%	15.3%	-5.5%	92.4K	-2.1M	-31.9K	0.00	76.01	5,468	14	63,779	27,581
2023-04-19	$1.87	$1.50	64.3%	18.4%	69.4%	22.1%	63.6%	9.1%	-4.8%	101.2K	-2.2M	-32.1K	0.41	70.23	275	113	68,501	27,595
2023-04-20	$1.79	$1.50	70.2%	20.1%	70.9%	27.1%	80.4%	-20.1%	-17.3%	71.5K	-1.5M	-30.7K	0.22	60.65	444	98	68,679	27,690
2023-04-21	$1.75	$1.50	75.2%	21.6%	71.2%	31.5%	56.0%	-26.5%	-44.5%	65.5K	-921.1K	-28.0K	0.20	34.93	485	97	69,024	27,692
2023-04-24	$1.85	$1.50	68.2%	19.5%	74.0%	25.4%	68.1%	-9.4%	-18.0%	84.6K	-1.8M	-29.2K	0.00	18.15	2,378	3	64,610	25,422
2023-04-25	$1.73	$1.50	53.1%	15.2%	76.4%	12.4%	65.0%	-3.1%	5.1%	60.3K	-814.6K	-27.0K	0.00	19.72	629	3	64,880	25,419
2023-04-26	$1.69	$1.50	58.0%	16.6%	76.7%	16.6%	60.8%	-21.8%	-0.6%	52.3K	-881.8K	-26.8K	0.67	24.79	171	115	65,187	25,420
2023-04-27	$1.75	$1.50	44.2%	12.7%	78.0%	4.7%	64.0%	-5.7%	8.9%	66.2K	-1.2M	-27.8K	0.07	15.88	623	41	65,385	25,437
2023-04-28	$1.81	$1.50	45.2%	13.0%	79.0%	5.6%	44.8%	18.1%	39.0%	79.3K	-1.7M	-29.3K	0.00	16.84	632	0	65,726	25,456