REI Options History — January 2026

In January 2026, REI traded between $0.88 and $1.19. ATM implied volatility averaged 75.4%, placing in the 23.6% IV rank vs the trailing year. The 30-day expected move averaged 29.7%. IV traded above realized volatility by 39.3% (HV 20d: 36.2%). Max pain ranged from $1.00 to $1.00. Net GEX was positive for 20 of 20 trading days. Term structure was in contango for 14 of 20 days. Put/call ratio averaged 0.30.

Notable Days

  • 2026-01-05: Highest Volume — 14,292 contracts
  • 2026-01-15: Largest IV spike — 67.6% change
  • 2026-01-09: Highest IV Rank — 45.0%
  • 2026-01-07: Largest Expected Move — 59.9%

Monthly Statistics

MetricAvgMinMaxOpenClose
Price$0.99$0.88$1.19$0.91$1.19
Max Pain$1.00$1.00$1.00$1.00$1.00
ATM IV75.4%51.7%113.4%94.2%58.1%
Expected Move29.7%14.8%59.9%27.0%16.7%
HV 20d36.2%31.6%44.8%32.0%44.4%
HV 60d45.9%40.8%53.3%53.2%44.1%
IV Rank23.6%10.3%45.0%34.2%13.9%
IV Percentile50.7%11.1%90.9%81.7%27.4%
Term Structure9.5%-24.9%44.9%-8.7%35.1%
VWIV74.6%39.0%131.0%131.0%39.0%
Skew 25d64.5%-36.6%252.1%70.7%57.6%
Skew 10d65.5%-37.1%264.5%54.9%29.5%
Call IV 25d75.0%54.5%88.2%88.2%54.5%
Put IV 25d139.5%34.4%329.8%158.9%112.0%
Bid-Ask Spread %100.7860.99122.8464.6690.68
Gamma HHI0.530.310.810.500.31
Net GEX24.3K13.8K59.4K27.7K20.4K
Net DEX-1.3M-2.1M-423.4K-1.2M-2.1M
Net VEX-9.0K-11.0K-7.2K-7.5K-11.0K
Div Yield0.0%0.0%0.0%0.0%0.0%
P/C Ratio0.300.011.210.200.11
Total Volume2,942.8538514,292830907
Total OI68,196.933,168101,28591,43037,580

Daily Data (20 trading days)

DatePriceMax PainATM IVExp MoveHV 20dIV RankVWIVSkew 25dTerm StrGEXDEXVEXP/CSpread %Call VolPut VolCall OIPut OI
2026-01-02$0.91$1.0094.2%27.0%32.0%34.2%131.0%70.7%-8.7%27.7K-1.2M-7.5K0.2064.6669113976,46614,964
2026-01-05$0.91$1.00106.3%20.2%31.7%41.0%83.6%-20.3%3.9%29.1K-1.0M-7.2K0.05116.2513,67162177,04014,997
2026-01-06$0.89$1.0093.9%58.9%32.1%34.0%91.5%236.5%-11.7%20.8K-792.3K-8.4K0.03112.783741176,49015,538
2026-01-07$0.88$1.0074.2%59.9%31.6%22.9%96.0%235.6%-24.9%20.3K-423.4K-7.5K1.21117.9655967876,65515,539
2026-01-08$0.92$1.00106.1%59.2%35.5%40.9%83.0%252.1%-12.0%22.4K-1.2M-8.9K1.09114.3124727077,09316,279
2026-01-09$0.92$1.00113.4%59.9%35.5%45.0%84.0%148.8%5.5%22.4K-1.3M-8.6K0.19103.2074914577,14916,069
2026-01-12$0.94$1.0087.6%57.1%35.3%30.5%50.1%143.2%40.3%32.4K-981.5K-8.6K0.10100.452,39724277,67415,934
2026-01-13$0.93$1.0099.3%40.9%34.5%37.1%84.6%120.9%7.1%31.4K-896.8K-8.6K0.15122.846,39695578,58115,734
2026-01-14$0.97$1.0052.3%15.0%36.7%10.6%70.2%-36.6%13.1%59.4K-1.4M-9.6K1.0198.281,8891,90983,65815,787
2026-01-15$0.97$1.0087.7%25.1%33.6%30.5%88.0%3.6%-22.0%38.1K-1.8M-9.4K0.2692.091,83146984,32816,771
2026-01-16$0.97$1.0060.7%17.4%32.0%15.4%60.9%151.2%23.8%21.6K-561.3K-9.1K0.15107.083,96557784,80916,476
2026-01-20$0.94$1.0057.3%16.4%34.1%13.4%77.0%4.9%-6.7%17.9K-1.1M-8.8K0.01108.591,7411430,7845,462
2026-01-21$0.98$1.0065.9%18.9%35.9%18.3%65.9%-5.9%44.9%22.6K-1.3M-9.4K0.0390.526,11116731,9525,474
2026-01-22$0.99$1.0056.7%16.3%35.9%13.1%70.3%-31.6%9.8%14.9K-1.1M-8.9K0.03102.468842727,7625,406
2026-01-23$1.02$1.0064.5%18.5%36.7%17.5%79.0%-27.0%1.0%13.8K-1.3M-9.2K0.94117.2598893227,7825,430
2026-01-26$1.08$1.0066.7%19.1%40.3%18.7%69.8%7.2%6.7%15.9K-1.4M-9.2K0.3093.532,77283628,1765,264
2026-01-27$1.10$1.0055.0%15.8%39.6%12.1%41.8%16.6%33.4%18.3K-1.6M-10.0K0.0685.442,22214230,0795,184
2026-01-28$1.08$1.0056.9%16.3%41.0%13.2%0.0%-33.3%14.6%17.8K-1.7M-10.2K0.04116.258603731,2035,211
2026-01-29$1.15$1.0051.7%14.8%44.8%10.3%51.1%-3.4%35.8%18.1K-2.1M-10.7K0.0160.991,4211131,9135,245
2026-01-30$1.19$1.0058.1%16.7%44.4%13.9%39.0%57.6%35.1%20.4K-2.1M-11.0K0.1190.688169132,3305,250