RLAY Options History — May 2025

In May 2025, RLAY traded between $2.79 and $3.33. ATM implied volatility averaged 151.3%, placing in the 28.8% IV rank vs the trailing year. The 30-day expected move averaged 34.5%. IV traded above realized volatility by 68.1% (HV 20d: 83.2%). Max pain ranged from $2.50 to $5.00. Net GEX was positive for 17 of 21 trading days. Term structure was in contango for 11 of 21 days. Put/call ratio averaged 1.90.

Notable Days

  • 2025-05-15: Highest Volume — 303 contracts
  • 2025-05-02: Largest IV spike — 205.9% change
  • 2025-05-08: Highest IV Rank — 72.8%
  • 2025-05-02: Largest Expected Move — 84.6%

Monthly Statistics

MetricAvgMinMaxOpenClose
Price$3.01$2.79$3.33$3.33$3.02
Max Pain$4.40$2.50$5.00$2.50$2.50
ATM IV151.3%81.3%329.1%96.5%90.4%
Expected Move34.5%23.3%84.6%27.7%25.9%
HV 20d83.2%62.5%110.2%110.2%62.5%
HV 60d92.1%90.3%94.2%93.1%90.4%
IV Rank28.8%11.5%72.8%15.3%13.8%
IV Percentile68.5%38.9%98.4%57.1%50.4%
Term Structure88.6%-62.3%411.1%-62.3%411.1%
VWIV120.3%71.7%200.3%200.3%71.7%
Skew 25d1.6%-36.4%66.0%-36.4%22.9%
Skew 10d1.8%-45.9%97.1%-2.1%21.4%
Call IV 25d120.4%70.8%154.5%137.2%77.3%
Put IV 25d122.1%82.7%219.1%100.9%100.2%
Bid-Ask Spread %84.8253.01169.77120.9562.12
Gamma HHI0.590.470.730.700.55
Net GEX2.0K-6304.7K4.7K835
Net DEX-65.8K-330.7K40.2K-188.9K16.9K
Net VEX-806-1.5K-299-1.2K-458
Div Yield0.0%0.0%0.0%0.0%0.0%
P/C Ratio1.900.0016.000.210.00
Total Volume52.61903031472
Total OI4,2484,0984,5044,2434,202

Daily Data (21 trading days)

DatePriceMax PainATM IVExp MoveHV 20dIV RankVWIVSkew 25dTerm StrGEXDEXVEXP/CSpread %Call WallPut WallCall VolPut VolCall OIPut OI
2025-05-01$3.33$2.5096.5%27.7%110.2%15.3%200.3%-36.4%-62.3%4.7K-188.9K-1.2K0.21120.95N/AN/A121263,466777
2025-05-02$3.29$2.50295.2%84.6%105.0%64.4%0.0%9.3%0.0%4.4K-210.0K-1.4K0.00169.77N/AN/A403,558803
2025-05-05$3.30$5.00146.9%36.2%92.7%27.7%128.5%-13.1%-38.3%4.6K-213.4K-1.3K2.4053.01N/AN/A5123,561803
2025-05-06$3.16$5.00254.3%30.0%94.5%54.3%0.0%-7.4%36.0%3.8K-152.6K-1.1K0.00101.70N/AN/A043,567791
2025-05-07$3.04$5.00270.1%34.1%95.2%58.2%135.3%-33.6%17.9%3.4K-77.0K-1.0K0.0580.64N/AN/A4123,567795
2025-05-08$3.02$5.00329.1%48.2%81.2%72.8%147.9%-22.2%-55.9%3.8K-136.5K-1.2K0.0696.35N/AN/A1613,543797
2025-05-09$3.01$5.00261.1%28.6%80.0%56.0%184.6%-16.6%14.2%2.8K-100.9K-1.0K3.0089.12N/AN/A133,529798
2025-05-12$3.21$5.00154.0%42.6%78.2%29.5%107.6%63.5%6.6%3.7K-330.7K-1.5K0.0193.80N/AN/A9313,529796
2025-05-13$2.88$5.00102.0%29.2%87.5%16.6%102.8%-19.4%22.9%2.0K-63.5K-8141.3370.02N/AN/A683,480796
2025-05-14$2.79$5.0092.6%26.5%84.4%14.3%0.0%-27.0%39.3%528-9.0K-5800.00105.18N/AN/A003,481804
2025-05-15$2.79$5.00161.8%46.4%81.4%31.4%0.0%21.2%0.0%2.4K-118.1K-1.0K6.5865.57N/AN/A402633,481804
2025-05-16$2.87$5.00176.3%50.5%80.9%35.0%162.5%66.0%0.0%-6302.4K-2990.9063.67N/AN/A1361223,4411,063
2025-05-19$2.92$5.0098.6%28.3%80.1%15.8%125.8%-33.8%311.4%98726.2K-5710.2577.45N/AN/A2463,315797
2025-05-20$3.05$5.00105.0%30.1%80.8%17.4%108.8%-7.1%-38.2%1.8K5.6K-6333.1756.05N/AN/A6193,295803
2025-05-21$2.90$5.00102.4%29.3%78.4%16.7%102.3%-30.7%-30.4%1.4K26.0K-55816.0070.52N/AN/A1163,290812
2025-05-22$2.87$5.0085.3%24.5%77.9%12.5%82.6%-2.4%-10.2%-20737.8K-4460.0094.55N/AN/A403,291815
2025-05-23$2.90$5.0081.3%23.3%78.1%11.5%81.3%16.0%387.9%-31740.2K-3682.2060.09N/AN/A5113,295815
2025-05-27$2.85$5.00100.9%28.9%77.5%16.4%93.6%30.3%303.5%17226.0K-4430.0055.49N/AN/A3003,300818
2025-05-28$2.96$2.5088.2%25.3%76.8%13.2%88.9%22.4%-51.1%-2532.8K-4130.02100.84N/AN/A5513,330818
2025-05-29$3.08$2.5086.0%24.7%63.5%12.7%71.7%32.1%330.7%1.2K4.8K-4800.0094.27N/AN/A2003,364818
2025-05-30$3.02$2.5090.4%25.9%62.5%13.8%0.0%22.9%411.1%83516.9K-4580.0062.12N/AN/A203,384818