REI Options History — December 2025

In December 2025, REI traded between $0.84 and $0.95. ATM implied volatility averaged 65.6%, placing in the 18.1% IV rank vs the trailing year. The 30-day expected move averaged 19.2%. IV traded above realized volatility by 27.9% (HV 20d: 37.7%). Max pain ranged from $0.50 to $1.00. Net GEX was positive for 22 of 22 trading days. Term structure was in contango for 19 of 22 days. Put/call ratio averaged 0.10.

Notable Days

  • 2025-12-30: Highest Volume — 1,138 contracts
  • 2025-12-03: Largest IV spike — 61.5% change
  • 2025-12-26: Highest IV Rank — 34.1%
  • 2025-12-26: Largest Expected Move — 26.9%

Monthly Statistics

MetricAvgMinMaxOpenClose
Price$0.89$0.84$0.95$0.94$0.87
Max Pain$0.93$0.50$1.00$0.50$1.00
ATM IV65.6%37.9%94.0%56.7%90.4%
Expected Move19.2%10.9%26.9%16.2%25.9%
HV 20d37.7%28.4%52.1%51.0%28.4%
HV 60d55.6%52.2%58.1%57.6%52.2%
IV Rank18.1%2.5%34.1%13.1%32.1%
IV Percentile40.3%0.4%81.3%24.2%80.2%
Term Structure23.1%-18.0%59.1%27.4%26.9%
VWIV119.3%57.7%429.9%77.7%122.8%
Skew 25d45.9%13.7%75.6%66.1%69.7%
Skew 10d39.2%27.4%59.0%59.0%46.4%
Call IV 25d62.4%48.7%76.3%61.2%75.7%
Put IV 25d108.3%79.8%145.4%127.3%145.4%
Bid-Ask Spread %66.2545.03104.7087.2064.20
Gamma HHI0.750.470.950.870.62
Net GEX81.3K21.3K215.4K168.0K23.6K
Net DEX-1.6M-3.4M-499.8K-3.1M-841.6K
Net VEX-9.2K-13.5K-6.4K-13.5K-7.2K
Div Yield0.0%0.0%0.0%0.0%0.0%
P/C Ratio0.100.000.880.020.03
Total Volume6432721,138534544
Total OI128,854.09190,161147,676145,54091,737

Daily Data (22 trading days)

DatePriceMax PainATM IVExp MoveHV 20dIV RankVWIVSkew 25dTerm StrGEXDEXVEXP/CSpread %Call VolPut VolCall OIPut OI
2025-12-01$0.94$0.5056.7%16.2%51.0%13.1%77.7%66.1%27.4%168.0K-3.1M-13.5K0.0287.2052212131,06914,471
2025-12-02$0.91$0.5056.9%16.3%52.1%13.2%102.8%75.6%6.4%148.5K-2.7M-12.3K0.0183.689247131,16214,467
2025-12-03$0.93$0.5092.0%26.4%50.4%32.9%0.0%15.2%13.8%122.9K-3.4M-13.1K0.00104.704142131,33614,470
2025-12-04$0.94$1.0062.1%16.7%46.6%16.1%63.6%14.8%13.5%169.7K-3.1M-12.8K0.0159.933555131,52714,470
2025-12-05$0.95$1.0047.6%18.3%46.6%8.0%66.5%19.8%0.7%215.4K-3.0M-12.4K0.0252.634659131,53714,474
2025-12-08$0.93$1.0071.9%17.5%44.8%21.7%66.6%16.1%18.0%163.8K-3.0M-11.9K0.0247.564257131,74814,419
2025-12-09$0.92$1.0053.1%22.5%38.3%11.1%90.6%21.0%7.7%172.0K-2.3M-10.9K0.0948.8893486131,63514,424
2025-12-10$0.92$1.0050.0%14.3%32.9%9.3%67.4%42.5%40.9%92.1K-3.3M-11.8K0.0345.0362717132,37614,424
2025-12-11$0.90$1.0038.8%11.1%33.0%3.0%0.0%38.2%37.8%139.4K-1.6M-9.4K0.0052.523391132,28114,425
2025-12-12$0.88$1.0037.9%10.9%33.2%2.5%175.9%13.7%59.1%116.8K-1.0M-8.1K0.0160.541,03110132,27114,425
2025-12-15$0.87$1.0051.8%14.8%32.8%10.3%57.7%47.4%56.8%24.5K-539.3K-7.2K0.8864.29283248132,97914,425
2025-12-16$0.84$1.0076.7%22.0%33.3%24.3%120.6%49.1%42.8%21.3K-771.2K-7.8K0.0967.9546741133,01914,642
2025-12-17$0.87$1.0053.5%15.3%35.9%11.3%61.2%48.6%41.4%24.0K-533.4K-7.1K0.2763.52421114132,86214,596
2025-12-18$0.86$1.0079.8%22.9%35.5%26.1%0.0%50.2%-16.8%23.2K-962.2K-7.9K0.0477.7926210132,89514,609
2025-12-19$0.85$1.0067.6%19.4%35.1%19.2%429.9%49.1%-18.0%21.3K-664.9K-7.0K0.3271.31497160133,06014,616
2025-12-22$0.86$1.0057.8%16.6%34.8%13.7%167.4%46.5%-1.1%22.5K-499.8K-6.6K0.0073.29815075,48514,676
2025-12-23$0.86$1.0087.6%25.1%34.5%30.5%0.0%62.3%33.2%22.2K-737.4K-7.0K0.0888.099337175,55614,676
2025-12-24$0.88$1.0075.6%21.7%33.6%23.7%0.0%59.5%31.2%24.1K-796.6K-7.3K0.0173.17586576,10414,739
2025-12-26$0.87$1.0094.0%26.9%32.7%34.1%0.0%63.1%30.9%24.0K-1.0M-7.8K0.0057.02520276,29814,740
2025-12-29$0.88$1.0069.5%19.9%32.8%20.3%0.0%70.2%28.2%25.5K-693.2K-7.0K0.0249.258221576,01714,738
2025-12-30$0.88$1.0071.5%20.5%30.2%21.5%0.0%71.5%27.3%24.5K-633.1K-6.4K0.2864.8788625276,16914,741
2025-12-31$0.87$1.0090.4%25.9%28.4%32.1%122.8%69.7%26.9%23.6K-841.6K-7.2K0.0364.205281676,76914,968