RLAY Options History — December 2025

In December 2025, RLAY traded between $7.48 and $8.65. ATM implied volatility averaged 88.8%, placing in the 11.7% IV rank vs the trailing year. The 30-day expected move averaged 28.8%. IV traded above realized volatility by 13.9% (HV 20d: 74.9%). Max pain ranged from $3.00 to $8.00. Net GEX was positive for 22 of 22 trading days. Term structure was in contango for 13 of 22 days. Put/call ratio averaged 1.57.

Notable Days

  • 2025-12-02: Highest Volume — 804 contracts
  • 2025-12-19: Largest IV spike — 88.3% change
  • 2025-12-19: Highest IV Rank — 36.9%
  • 2025-12-19: Largest Expected Move — 54.9%

Monthly Statistics

MetricAvgMinMaxOpenClose
Price$8.11$7.48$8.65$7.48$8.47
Max Pain$4.73$3.00$8.00$5.00$8.00
ATM IV88.8%61.3%191.4%76.7%64.2%
Expected Move28.8%17.6%54.9%22.0%18.4%
HV 20d74.9%49.4%88.4%87.6%49.7%
HV 60d78.5%73.0%82.0%81.6%73.9%
IV Rank11.7%3.9%36.9%10.4%4.6%
IV Percentile30.0%4.4%82.9%23.8%7.9%
Term Structure35.4%-143.0%182.0%180.6%20.2%
VWIV93.7%51.9%146.8%75.6%74.0%
Skew 25d44.4%-106.5%317.6%-34.5%-12.3%
Skew 10d-43.1%-385.2%334.9%-50.0%-251.5%
Call IV 25d111.5%51.4%356.8%100.1%60.4%
Put IV 25d155.9%48.1%377.8%65.5%48.2%
Bid-Ask Spread %148.27130.28160.35130.28156.50
Gamma HHI0.770.480.940.720.89
Net GEX269.2K80.0K506.0K349.0K140.4K
Net DEX-10.7M-19.4M-4.4M-9.9M-4.9M
Net VEX-11.6K-18.4K-6.2K-18.0K-6.2K
Div Yield0.0%0.0%0.0%0.0%0.0%
P/C Ratio1.570.0013.5613.560.13
Total Volume187.5911080413126
Total OI20,328.8648,41126,77724,2759,129

Daily Data (22 trading days)

DatePriceMax PainATM IVExp MoveHV 20dIV RankVWIVSkew 25dTerm StrGEXDEXVEXP/CSpread %Call WallPut WallCall VolPut VolCall OIPut OI
2025-12-01$7.48$5.0076.7%22.0%87.6%10.4%75.6%-34.5%180.6%349.0K-9.9M-18.0K13.56130.28N/AN/A912223,725550
2025-12-02$7.49$7.5079.2%22.7%87.1%11.0%79.1%-8.3%182.0%346.3K-9.7M-17.8K0.18133.61N/AN/A68312123,723671
2025-12-03$7.85$7.5070.8%20.3%88.4%8.9%85.6%-15.8%4.2%318.2K-11.7M-18.4K0.00148.04N/AN/A49024,276792
2025-12-04$7.97$3.0070.2%24.2%84.0%8.8%87.8%102.1%-11.6%360.9K-12.5M-17.6K0.00149.23N/AN/A28024,255792
2025-12-05$7.68$3.0075.5%48.8%85.6%10.1%88.7%105.1%5.0%328.1K-10.7M-17.2K0.00155.08N/AN/A16024,266792
2025-12-08$7.65$3.0067.1%54.4%81.7%8.0%146.8%15.8%-41.6%414.2K-10.2M-14.8K0.00150.53N/AN/A10024,271792
2025-12-09$7.69$3.0071.3%26.3%81.7%8.0%90.3%133.3%-17.2%424.2K-10.8M-15.5K0.03139.08N/AN/A4091124,277792
2025-12-10$7.64$3.0088.5%25.4%81.7%10.8%91.0%-89.9%-16.3%447.1K-10.6M-15.3K0.00141.35N/AN/A401024,684802
2025-12-11$7.78$3.0092.2%26.4%81.4%11.7%93.5%198.1%13.1%478.9K-12.0M-15.0K0.00150.51N/AN/A241025,085802
2025-12-12$8.04$3.0090.8%26.0%81.3%11.4%85.5%231.8%-5.3%464.2K-14.3M-13.8K0.02148.47N/AN/A5951225,322802
2025-12-15$8.50$3.0084.5%24.2%81.9%9.8%89.7%51.0%35.3%229.5K-19.0M-8.9K0.02149.79N/AN/A103225,857812
2025-12-16$8.59$3.0089.2%25.6%80.5%11.0%131.8%-13.7%-24.4%258.5K-16.2M-11.8K0.04150.49N/AN/A3291225,863811
2025-12-17$8.05$3.00106.2%30.4%84.3%15.3%102.8%-1.6%-18.6%506.0K-16.4M-9.8K0.05149.24N/AN/A37225,946821
2025-12-18$8.21$3.00101.7%29.1%83.5%14.1%112.4%54.6%100.0%91.2K-18.5M-7.7K0.00148.01N/AN/A15025,942823
2025-12-19$8.63$3.00191.4%54.9%84.3%36.9%138.5%-41.3%11.7%107.1K-19.4M-6.7K0.90151.68N/AN/A393525,954823
2025-12-22$8.52$3.00179.8%51.5%82.9%34.0%90.1%146.8%-143.0%107.1K-4.8M-7.4K0.10143.27N/AN/A300318,4092
2025-12-23$8.32$5.0070.0%20.1%52.9%6.1%71.8%-11.5%132.1%128.3K-4.9M-7.0K7.04143.04N/AN/A231628,69433
2025-12-24$8.65$8.0061.3%17.6%53.6%3.9%96.0%317.6%140.6%122.9K-5.3M-6.3K0.00152.67N/AN/A4308,711193
2025-12-26$8.55$8.0074.4%21.3%53.3%7.2%75.7%-2.0%127.9%121.8K-5.3M-6.6K1.53152.68N/AN/A15238,714193
2025-12-29$8.29$8.0073.4%21.0%52.0%7.0%51.9%-106.5%-1.7%80.0K-4.5M-6.6K4.26160.35N/AN/A381628,709216
2025-12-30$8.29$8.0075.5%21.7%49.4%7.5%101.8%-41.5%105.7%99.4K-4.4M-6.7K6.67157.95N/AN/A3208,731378
2025-12-31$8.47$8.0064.2%18.4%49.7%4.6%74.0%-12.3%20.2%140.4K-4.9M-6.2K0.13156.50N/AN/A2338,731398