RLAY Options History — November 2025

In November 2025, RLAY traded between $6.13 and $8.16. ATM implied volatility averaged 180.6%, placing in the 36.1% IV rank vs the trailing year. The 30-day expected move averaged 57.6%. IV traded above realized volatility by 108.5% (HV 20d: 72.1%). Max pain ranged from $2.50 to $7.00. Net GEX was positive for 19 of 19 trading days. Term structure was in contango for 13 of 19 days. Put/call ratio averaged 1.12.

Notable Days

  • 2025-11-24: Highest Volume — 5,829 contracts
  • 2025-11-05: Largest IV spike — 216.8% change
  • 2025-11-17: Highest IV Rank — 93.2%
  • 2025-11-17: Largest Expected Move — 118.0%

Monthly Statistics

MetricAvgMinMaxOpenClose
Price$6.82$6.13$8.16$7.03$7.79
Max Pain$3.61$2.50$7.00$7.00$5.00
ATM IV180.6%75.1%411.7%168.3%75.1%
Expected Move57.6%21.5%118.0%48.2%21.5%
HV 20d72.1%52.3%86.4%82.5%86.4%
HV 60d76.2%73.2%82.9%73.4%81.2%
IV Rank36.1%10.0%93.2%33.0%10.0%
IV Percentile66.4%22.2%99.6%80.2%22.2%
Term Structure10.5%-285.6%121.9%-7.4%5.9%
VWIV95.4%48.9%145.3%145.3%75.2%
Skew 25d110.5%-66.9%376.1%-12.0%17.9%
Skew 10d-48.9%-292.3%104.2%-122.2%-58.6%
Call IV 25d110.4%52.9%234.1%121.2%52.9%
Put IV 25d220.9%69.5%480.7%109.2%70.8%
Bid-Ask Spread %151.36126.22163.96142.85142.82
Gamma HHI0.550.340.970.340.70
Net GEX186.7K104.4K328.3K128.2K328.3K
Net DEX-6.0M-12.7M-2.8M-5.3M-11.6M
Net VEX-14.2K-20.0K-10.7K-12.9K-19.2K
Div Yield0.0%0.0%0.0%0.0%0.0%
P/C Ratio1.120.0016.670.090.67
Total Volume908.52605,8296225
Total OI22,771.15816,47726,75716,47724,267

Daily Data (19 trading days)

DatePriceMax PainATM IVExp MoveHV 20dIV RankVWIVSkew 25dTerm StrGEXDEXVEXP/CSpread %Call WallPut WallCall VolPut VolCall OIPut OI
2025-11-03$7.03$7.00168.3%48.2%82.5%33.0%145.3%-12.0%-7.4%128.2K-5.3M-12.9K0.09142.85N/AN/A57515,570907
2025-11-04$7.00$7.0098.1%28.1%82.5%15.7%97.9%-51.7%7.5%142.7K-5.3M-12.6K0.04159.81N/AN/A5,01022015,596912
2025-11-05$6.54$7.00310.7%89.1%85.7%68.2%48.9%100.1%89.6%104.4K-6.3M-16.3K16.67163.96N/AN/A1220020,5851,132
2025-11-06$6.52$2.50219.7%73.8%72.3%45.7%122.1%51.9%-74.4%119.4K-5.3M-15.5K0.14158.48N/AN/A7120,5871,332
2025-11-07$6.13$2.50200.0%75.4%72.4%40.8%85.9%201.1%-48.5%119.5K-2.8M-11.8K0.00160.33N/AN/A5020,5921,333
2025-11-10$6.17$2.50101.0%51.7%70.9%16.4%111.2%169.2%-17.6%143.9K-3.1M-11.5K0.00163.22N/AN/A32020,5951,333
2025-11-11$6.33$2.5080.6%81.5%71.4%11.4%126.8%332.2%51.8%154.0K-4.0M-12.9K0.00160.95N/AN/A6020,5971,333
2025-11-12$6.25$2.50159.1%45.6%69.0%30.8%0.0%37.8%62.4%122.0K-2.8M-10.7K0.00161.57N/AN/A0020,6001,333
2025-11-13$6.47$2.50121.0%34.7%70.1%21.3%74.8%-66.9%47.9%176.4K-4.1M-12.3K0.00146.87N/AN/A8020,6001,333
2025-11-14$6.34$2.50295.9%84.8%70.4%64.6%92.8%152.9%53.5%151.8K-3.9M-12.2K0.00157.23N/AN/A5,191020,5951,333
2025-11-17$6.70$2.50411.7%118.0%60.3%93.2%79.8%331.1%-285.6%256.5K-5.7M-15.6K0.03154.04N/AN/A34125,4121,331
2025-11-18$6.55$2.50114.8%32.9%60.6%19.8%98.9%64.3%41.2%209.2K-5.3M-14.7K0.29156.56N/AN/A341025,4091,331
2025-11-19$6.42$2.50300.5%86.2%54.6%65.7%114.0%357.0%73.6%198.1K-5.3M-13.9K0.00159.09N/AN/A26025,4161,341
2025-11-20$6.38$2.50328.1%94.1%52.3%72.5%91.6%376.1%121.9%185.9K-4.1M-12.2K0.23160.50N/AN/A481125,3991,341
2025-11-21$6.79$2.50204.7%58.7%54.1%42.0%74.0%81.3%18.6%196.4K-4.7M-13.2K0.00132.98N/AN/A114025,3771,351
2025-11-24$8.16$2.5088.2%25.3%85.1%13.2%91.0%-10.7%-16.3%215.5K-10.1M-14.0K0.01126.22N/AN/A5,7943517,986364
2025-11-25$7.95$5.0075.8%21.7%85.2%10.2%117.3%-16.4%6.1%303.2K-12.1M-20.0K0.00139.36N/AN/A152023,597398
2025-11-26$8.14$5.0078.6%22.5%84.7%10.9%70.6%-15.9%69.5%291.2K-12.7M-18.4K2.07129.02N/AN/A7315123,736398
2025-11-28$7.79$5.0075.1%21.5%86.4%10.0%75.2%17.9%5.9%328.3K-11.6M-19.2K0.67142.82N/AN/A151023,727540