REI Options History — February 2025

In February 2025, REI traded between $1.27 and $1.42. ATM implied volatility averaged 62.6%, placing in the 20.1% IV rank vs the trailing year. The 30-day expected move averaged 18.8%. IV traded above realized volatility by 26.7% (HV 20d: 35.8%). 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 0.25.

Notable Days

2025-02-04: Highest Volume — 1,194 contracts
2025-02-12: Largest IV spike — 38.7% change
2025-02-13: Highest IV Rank — 30.4%
2025-02-13: Largest Expected Move — 23.4%

Monthly Statistics

Metric	Avg	Min	Max	Open	Close
Price	$1.32	$1.27	$1.42	$1.31	$1.27
Max Pain	$1.58	$1.50	$2.00	$2.00	$1.50
ATM IV	62.6%	47.1%	81.8%	51.9%	56.1%
Expected Move	18.8%	13.5%	23.4%	14.9%	16.1%
HV 20d	35.8%	30.5%	44.0%	31.7%	44.0%
HV 60d	42.0%	37.8%	53.6%	53.6%	41.4%
IV Rank	20.1%	11.8%	30.4%	14.4%	16.7%
IV Percentile	61.3%	25.8%	87.3%	38.9%	52.4%
Term Structure	1.4%	-48.5%	35.3%	24.5%	4.7%
VWIV	84.5%	49.9%	137.9%	103.0%	49.9%
Skew 25d	16.8%	-10.4%	112.6%	18.3%	32.4%
Skew 10d	24.0%	-4.7%	166.0%	9.3%	26.8%
Call IV 25d	63.3%	40.0%	75.5%	53.8%	56.1%
Put IV 25d	80.1%	59.3%	180.5%	72.1%	88.5%
Bid-Ask Spread %	63.41	39.07	85.70	56.47	80.50
Gamma HHI	0.71	0.62	0.84	0.66	0.81
Net GEX	97.8K	82.9K	131.3K	90.3K	85.7K
Net DEX	-2.1M	-3.0M	-916.7K	-2.3M	-1.1M
Net VEX	-13.3K	-14.9K	-9.4K	-14.6K	-9.8K
Div Yield	0.0%	0.0%	0.0%	0.0%	0.0%
P/C Ratio	0.25	0.00	1.47	0.00	0.25
Total Volume	246.947	10	1,194	364	10
Total OI	98,136.263	95,832	99,835	97,103	96,010

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
2025-02-03	$1.31	$2.00	51.9%	14.9%	31.7%	14.4%	103.0%	18.3%	24.5%	90.3K	-2.3M	-14.6K	0.00	56.47	364	0	91,017	6,086
2025-02-04	$1.31	$2.00	53.4%	15.3%	31.0%	15.2%	106.1%	18.7%	23.8%	90.0K	-2.3M	-14.7K	0.00	71.18	1,194	0	91,318	6,086
2025-02-05	$1.31	$2.00	55.0%	15.8%	31.0%	16.1%	74.9%	22.1%	23.1%	91.0K	-2.3M	-14.9K	0.18	53.47	452	80	92,190	6,086
2025-02-06	$1.29	$1.50	54.7%	20.6%	31.2%	15.9%	79.1%	-4.4%	-19.5%	85.0K	-2.2M	-14.6K	0.00	39.07	169	0	92,556	6,166
2025-02-07	$1.27	$1.50	53.3%	21.0%	30.5%	15.2%	78.0%	-3.6%	-13.7%	83.8K	-2.3M	-14.7K	0.02	68.08	283	5	92,666	6,166
2025-02-10	$1.33	$1.50	68.1%	22.6%	33.9%	23.1%	79.6%	4.0%	-6.8%	92.5K	-2.3M	-14.4K	0.00	77.30	289	0	92,751	6,171
2025-02-11	$1.35	$1.50	58.2%	19.9%	34.6%	17.8%	137.9%	-10.4%	-9.7%	102.4K	-2.4M	-14.5K	0.00	53.31	208	0	92,984	6,181
2025-02-12	$1.31	$1.50	80.6%	23.1%	34.9%	29.8%	83.5%	4.2%	-31.3%	91.9K	-2.4M	-14.3K	0.89	51.15	9	8	93,095	6,181
2025-02-13	$1.31	$1.50	81.8%	23.4%	32.8%	30.4%	80.2%	4.2%	-48.5%	92.0K	-2.4M	-14.0K	1.47	51.79	136	200	93,100	6,181
2025-02-14	$1.35	$1.50	72.2%	20.7%	34.4%	25.3%	78.1%	4.9%	-46.6%	102.3K	-2.4M	-14.2K	0.00	55.60	107	0	93,079	6,381
2025-02-18	$1.38	$1.50	76.1%	21.8%	35.1%	27.4%	76.5%	-2.4%	-1.4%	108.8K	-2.7M	-14.2K	0.02	66.00	174	3	93,083	6,381
2025-02-19	$1.40	$1.50	67.2%	19.3%	35.6%	22.6%	74.3%	112.6%	-7.0%	122.3K	-2.7M	-14.2K	0.27	85.70	172	47	93,213	6,381
2025-02-20	$1.42	$1.50	65.6%	18.8%	33.0%	21.8%	66.0%	33.8%	12.3%	131.3K	-3.0M	-14.7K	0.01	72.46	153	1	93,328	6,426
2025-02-21	$1.33	$1.50	69.2%	19.8%	40.4%	23.7%	76.9%	8.7%	6.3%	106.6K	-2.7M	-13.6K	0.10	77.79	144	15	93,409	6,426
2025-02-24	$1.33	$1.50	54.6%	15.7%	40.2%	15.9%	103.3%	29.5%	32.9%	111.0K	-1.6M	-11.5K	0.01	57.04	173	1	89,545	6,287
2025-02-25	$1.27	$1.50	69.8%	20.0%	42.6%	24.0%	92.9%	18.1%	23.8%	82.9K	-1.7M	-11.2K	0.96	52.23	23	22	89,588	6,286
2025-02-26	$1.27	$1.50	53.7%	15.4%	41.5%	15.4%	81.2%	11.7%	23.5%	84.5K	-916.7K	-9.4K	0.56	66.99	36	20	89,586	6,284
2025-02-27	$1.31	$1.50	47.1%	13.5%	42.7%	11.8%	49.9%	16.7%	35.3%	104.2K	-1.1M	-9.9K	0.11	68.65	175	19	89,611	6,304
2025-02-28	$1.27	$1.50	56.1%	16.1%	44.0%	16.7%	0.0%	32.4%	4.7%	85.7K	-1.1M	-9.8K	0.25	80.50	8	2	89,697	6,313