REI Options History — November 2025

In November 2025, REI traded between $0.88 and $1.04. ATM implied volatility averaged 69.7%, placing in the 20.4% IV rank vs the trailing year. The 30-day expected move averaged 19.1%. IV traded above realized volatility by 8.0% (HV 20d: 61.7%). Max pain ranged from $0.50 to $0.50. Net GEX was positive for 19 of 19 trading days. Term structure was in contango for 11 of 19 days. Put/call ratio averaged 0.05.

Notable Days

2025-11-10: Highest Volume — 3,569 contracts
2025-11-13: Largest IV spike — 60.8% change
2025-11-05: Highest IV Rank — 40.6%
2025-11-05: Largest Expected Move — 30.3%

Monthly Statistics

Metric	Avg	Min	Max	Open	Close
Price	$0.95	$0.88	$1.04	$0.95	$0.91
Max Pain	$0.50	$0.50	$0.50	$0.50	$0.50
ATM IV	69.7%	43.9%	105.6%	97.6%	51.1%
Expected Move	19.1%	12.6%	30.3%	28.0%	14.7%
HV 20d	61.7%	49.1%	74.5%	69.8%	50.1%
HV 60d	62.6%	57.2%	67.4%	65.9%	57.2%
IV Rank	20.4%	5.9%	40.6%	36.1%	10.0%
IV Percentile	44.4%	2.4%	87.7%	82.5%	11.9%
Term Structure	10.8%	-38.4%	76.0%	-28.6%	30.1%
VWIV	98.7%	48.9%	190.4%	99.5%	190.4%
Skew 25d	44.2%	-15.1%	164.7%	30.2%	104.7%
Skew 10d	62.5%	-15.2%	201.2%	51.6%	99.6%
Call IV 25d	71.3%	43.2%	128.0%	101.7%	47.8%
Put IV 25d	115.4%	51.0%	212.2%	131.9%	152.5%
Bid-Ask Spread %	96.33	76.30	124.98	76.30	112.97
Gamma HHI	0.79	0.69	0.88	0.79	0.85
Net GEX	132.3K	87.6K	181.0K	121.7K	145.3K
Net DEX	-3.9M	-5.7M	-1.8M	-4.6M	-2.5M
Net VEX	-16.6K	-20.0K	-12.1K	-18.5K	-13.1K
Div Yield	0.0%	0.0%	0.0%	0.0%	0.0%
P/C Ratio	0.05	0.00	0.18	0.01	0.00
Total Volume	774.842	231	3,569	425	330
Total OI	149,306.263	144,565	152,196	151,351	145,477

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
2025-11-03	$0.95	$0.50	97.6%	28.0%	69.8%	36.1%	99.5%	30.2%	-28.6%	121.7K	-4.6M	-18.5K	0.01	76.30	419	6	136,939	14,412
2025-11-04	$0.91	$0.50	99.7%	28.6%	70.7%	37.3%	125.6%	-8.6%	-34.5%	87.6K	-3.9M	-18.4K	0.02	96.87	606	14	137,050	14,412
2025-11-05	$0.96	$0.50	105.6%	30.3%	74.3%	40.6%	106.1%	34.1%	-38.4%	128.6K	-4.6M	-19.3K	0.18	76.65	2,176	401	137,024	14,425
2025-11-06	$0.97	$0.50	98.3%	16.6%	74.5%	36.5%	64.8%	-14.7%	14.9%	133.8K	-4.7M	-20.0K	0.01	118.37	1,132	15	136,991	14,425
2025-11-07	$0.93	$0.50	63.8%	16.9%	67.1%	17.1%	65.0%	-13.0%	-14.6%	135.1K	-4.2M	-17.5K	0.01	103.82	935	5	137,782	14,414
2025-11-10	$0.99	$0.50	72.6%	19.6%	69.6%	22.1%	79.8%	-15.1%	-22.0%	129.3K	-4.7M	-17.9K	0.00	104.04	3,556	13	137,304	14,414
2025-11-11	$1.04	$0.50	73.3%	17.7%	70.7%	22.4%	77.5%	19.8%	-0.9%	134.7K	-5.7M	-19.3K	0.08	91.16	481	39	135,053	14,426
2025-11-12	$1.02	$0.50	56.0%	16.1%	70.7%	12.7%	48.9%	27.2%	18.1%	177.7K	-5.5M	-18.8K	0.01	89.55	413	5	135,272	14,408
2025-11-13	$1.00	$0.50	90.0%	25.8%	60.6%	31.8%	90.9%	77.9%	4.5%	114.4K	-5.2M	-18.5K	0.06	108.81	218	13	135,227	14,412
2025-11-14	$0.98	$0.50	71.4%	20.5%	60.5%	21.4%	71.5%	23.3%	-12.4%	132.5K	-5.1M	-19.8K	0.04	85.48	357	13	135,212	14,416
2025-11-17	$0.95	$0.50	69.3%	19.9%	61.7%	20.2%	84.5%	32.8%	76.0%	118.3K	-4.1M	-16.6K	0.00	76.34	279	0	135,231	14,413
2025-11-18	$0.96	$0.50	75.9%	21.8%	61.3%	23.9%	76.1%	-1.8%	-13.4%	132.3K	-4.1M	-16.0K	0.04	111.29	350	14	135,272	14,383
2025-11-19	$0.94	$0.50	44.0%	12.6%	61.7%	5.9%	0.0%	164.7%	48.4%	181.0K	-3.0M	-15.1K	0.02	124.98	321	8	135,388	14,389
2025-11-20	$0.92	$0.50	70.5%	20.2%	49.1%	20.9%	76.3%	65.3%	13.0%	113.2K	-3.7M	-15.2K	0.14	93.47	384	52	135,423	14,388
2025-11-21	$0.90	$0.50	43.9%	12.6%	49.2%	5.9%	184.1%	120.3%	37.1%	136.7K	-2.2M	-13.4K	0.15	94.74	381	59	135,550	14,431
2025-11-24	$0.91	$0.50	47.0%	13.5%	49.3%	7.7%	174.0%	96.5%	38.6%	143.9K	-2.4M	-13.4K	0.09	94.67	557	50	130,145	14,420
2025-11-25	$0.88	$0.50	45.7%	13.1%	50.0%	6.9%	62.3%	38.8%	46.9%	114.2K	-1.8M	-12.1K	0.01	87.32	489	7	130,405	14,470
2025-11-26	$0.90	$0.50	48.4%	13.9%	51.0%	8.4%	190.4%	56.9%	43.1%	134.1K	-2.2M	-12.8K	0.00	83.46	624	0	130,545	14,471
2025-11-28	$0.91	$0.50	51.1%	14.7%	50.1%	10.0%	0.0%	104.7%	30.1%	145.3K	-2.5M	-13.1K	0.00	112.97	330	0	131,006	14,471