REI Options History — March 2025

In March 2025, REI traded between $1.08 and $1.25. ATM implied volatility averaged 64.9%, placing in the 21.4% IV rank vs the trailing year. The 30-day expected move averaged 19.5%. IV traded above realized volatility by 10.8% (HV 20d: 54.1%). Max pain ranged from $1.00 to $2.00. Net GEX was positive for 21 of 21 trading days. Term structure was in contango for 13 of 21 days. Put/call ratio averaged 0.09.

Notable Days

  • 2025-03-17: Highest Volume — 3,274 contracts
  • 2025-03-07: Largest IV spike — 33.0% change
  • 2025-03-07: Highest IV Rank — 34.6%
  • 2025-03-13: Largest Expected Move — 25.9%

Monthly Statistics

MetricAvgMinMaxOpenClose
Price$1.18$1.08$1.25$1.19$1.17
Max Pain$1.30$1.00$2.00$1.50$1.00
ATM IV64.9%47.3%89.4%66.3%55.1%
Expected Move19.5%12.6%25.9%19.0%16.4%
HV 20d54.1%48.4%59.3%48.4%49.1%
HV 60d44.9%42.9%46.7%43.2%43.4%
IV Rank21.4%11.9%34.6%22.1%16.1%
IV Percentile62.3%24.6%89.3%71.0%47.2%
Term Structure6.2%-18.4%39.2%10.7%28.0%
VWIV97.5%44.2%265.0%68.7%75.7%
Skew 25d-7.5%-45.2%24.0%-3.9%-33.2%
Skew 10d17.9%-26.7%65.9%-3.4%-13.7%
Call IV 25d74.3%50.1%110.2%67.5%76.6%
Put IV 25d66.8%28.6%89.1%63.6%43.4%
Bid-Ask Spread %70.6934.34118.8953.9473.82
Gamma HHI0.470.310.780.740.37
Net GEX23.4K10.4K62.2K42.6K14.1K
Net DEX-312.6K-886.5K79.7K-123.4K-580.7K
Net VEX-5.8K-8.6K-4.4K-6.2K-5.3K
Div Yield0.0%0.0%0.0%0.0%0.0%
P/C Ratio0.090.000.360.010.00
Total Volume351.90573,27413082
Total OI75,440.09521,236100,04296,01821,451

Daily Data (21 trading days)

DatePriceMax PainATM IVExp MoveHV 20dIV RankVWIVSkew 25dTerm StrGEXDEXVEXP/CSpread %Call VolPut VolCall OIPut OI
2025-03-03$1.19$1.5066.3%19.0%48.4%22.1%68.7%-3.9%10.7%42.6K-123.4K-6.2K0.0153.94129189,7046,314
2025-03-04$1.21$1.5080.4%23.1%49.0%29.7%75.2%-1.3%0.7%60.8K-513.1K-7.5K0.0469.602591089,8216,315
2025-03-05$1.19$1.5087.3%25.0%49.1%33.4%79.7%-8.1%2.2%62.2K-886.5K-8.6K0.3634.341866790,0656,309
2025-03-06$1.12$1.5067.2%19.3%52.9%22.6%85.6%-20.6%23.8%19.6K46.8K-5.4K0.2960.182015990,1236,353
2025-03-07$1.08$1.5089.4%25.6%53.8%34.6%126.6%-14.2%12.0%41.3K-493.1K-6.4K0.2457.35842090,3155,629
2025-03-10$1.08$1.5082.7%23.7%53.9%30.9%104.4%-18.9%-1.2%29.4K-156.6K-5.4K0.0649.7633290,4665,649
2025-03-11$1.08$1.5064.4%19.8%50.0%21.1%76.3%-38.8%-17.4%10.5K79.7K-4.4K0.0057.43226090,4985,650
2025-03-12$1.15$1.5050.7%23.2%55.8%13.8%265.0%-9.8%39.2%22.4K-9.6K-5.0K0.0052.5475090,4915,650
2025-03-13$1.13$1.5065.0%25.9%55.3%21.5%0.0%-26.8%5.8%21.8K-2.2K-4.8K0.0039.27550090,5525,650
2025-03-14$1.17$1.5077.6%24.7%57.3%28.2%75.2%17.7%-10.5%22.7K8.5K-4.8K0.0088.28197090,2415,636
2025-03-17$1.23$1.0073.9%21.9%59.3%26.2%61.4%24.0%-18.4%10.4K19.9K-5.0K0.0086.303,266890,2095,636
2025-03-18$1.23$1.0057.8%17.5%58.5%17.6%44.2%19.4%-17.6%14.3K-184.7K-6.2K0.1471.741,22817893,4145,644
2025-03-19$1.25$1.0055.9%22.1%58.6%16.5%0.0%20.9%22.5%15.7K-203.0K-6.3K0.0070.6278094,4165,626
2025-03-20$1.25$0.0056.9%16.3%58.2%17.1%175.7%11.9%-0.0%15.5K-180.5K-6.2K0.30118.89672094,3815,626
2025-03-21$1.21$2.0050.9%12.6%54.8%13.9%0.0%17.0%2.6%14.5K-233.7K-6.2K0.03103.6092394,3945,324
2025-03-24$1.21$1.0054.0%13.0%54.8%15.5%51.4%13.8%1.0%14.9K-658.1K-5.7K0.0188.56127120,441795
2025-03-25$1.17$1.0047.3%15.3%53.8%11.9%0.0%-45.2%30.2%14.0K-577.8K-5.4K0.2875.66541520,517796
2025-03-26$1.21$1.0056.4%13.2%55.4%16.8%0.0%-17.5%-0.3%15.1K-656.4K-5.7K0.0076.9427020,550814
2025-03-27$1.21$1.0057.8%13.4%54.0%17.6%0.0%-16.8%-1.0%15.1K-655.3K-5.7K0.0376.9437120,561814
2025-03-28$1.17$1.0065.7%18.3%54.2%21.8%0.0%-27.2%17.1%13.9K-604.6K-5.5K0.0078.627020,587815
2025-03-31$1.17$1.0055.1%16.4%49.1%16.1%75.7%-33.2%28.0%14.1K-580.7K-5.3K0.0073.8282020,636815