RZLV Options History — December 2025

In December 2025, RZLV traded between $2.25 and $2.96. ATM implied volatility averaged 141.5%, placing in the 25.9% IV rank vs the trailing year. The 30-day expected move averaged 42.0%. IV traded above realized volatility by 27.2% (HV 20d: 114.3%). Max pain ranged from $3.00 to $4.00. Net GEX was positive for 22 of 22 trading days. Term structure was in contango for 12 of 22 days. Put/call ratio averaged 0.24.

Notable Days

2025-12-16: Highest Volume — 59,317 contracts
2025-12-05: Largest IV drop — 15.0% change
2025-12-22: Highest IV Rank — 34.4%
2025-12-29: Largest Expected Move — 46.3%

Monthly Statistics

Metric	Avg	Min	Max	Open	Close
Price	$2.68	$2.25	$2.96	$2.77	$2.56
Max Pain	$3.09	$3.00	$4.00	$4.00	$3.00
ATM IV	141.5%	122.7%	161.8%	138.3%	143.3%
Expected Move	42.0%	35.2%	46.3%	45.9%	45.8%
HV 20d	114.3%	77.9%	150.6%	77.9%	144.1%
HV 60d	108.5%	98.3%	119.8%	113.1%	106.7%
IV Rank	25.9%	17.9%	34.4%	24.5%	26.6%
IV Percentile	55.3%	25.8%	78.0%	51.4%	62.6%
Term Structure	2.7%	-33.8%	31.8%	25.0%	-23.8%
VWIV	153.2%	130.4%	179.0%	167.9%	170.8%
Skew 25d	-6.0%	-44.2%	39.8%	24.4%	-37.6%
Skew 10d	47.4%	-322.3%	198.7%	127.2%	85.9%
Call IV 25d	149.2%	111.4%	168.9%	147.9%	159.5%
Put IV 25d	143.2%	111.3%	180.9%	172.3%	121.9%
Bid-Ask Spread %	61.78	43.35	84.47	76.36	56.17
Gamma HHI	0.16	0.12	0.34	0.13	0.18
Net GEX	180.1K	99.6K	392.3K	153.1K	181.9K
Net DEX	-12.7M	-19.2M	-7.0M	-11.8M	-13.5M
Net VEX	-90.7K	-106.3K	-67.7K	-89.5K	-92.5K
Div Yield	0.0%	0.0%	0.0%	0.0%	0.0%
P/C Ratio	0.24	0.08	0.61	0.26	0.10
Total Volume	13,897.364	3,462	59,317	6,793	8,229
Total OI	227,702.455	194,217	258,337	194,217	245,148

Daily Data (22 trading days)

Date	Price	Max Pain	ATM IV	Exp Move	HV 20d	IV Rank	VWIV	Skew 25d	Term Str	GEX	DEX	VEX	P/C	Spread %	Call Wall	Put Wall	Call Vol	Put Vol	Call OI	Put OI
2025-12-01	$2.77	$4.00	138.3%	45.9%	77.9%	24.5%	167.9%	24.4%	25.0%	153.1K	-11.8M	-89.5K	0.26	76.36	N/A	N/A	5,411	1,382	173,414	20,803
2025-12-02	$2.58	$3.50	147.4%	44.2%	79.6%	28.3%	165.0%	-25.8%	-1.9%	139.7K	-10.5M	-86.1K	0.15	68.10	N/A	N/A	7,137	1,091	178,750	22,115
2025-12-03	$2.62	$3.50	151.0%	45.1%	80.7%	29.9%	161.3%	-44.2%	20.5%	132.8K	-9.7M	-83.6K	0.32	65.78	N/A	N/A	4,112	1,298	181,128	23,007
2025-12-04	$2.92	$3.00	150.9%	40.3%	92.5%	29.8%	144.1%	8.8%	5.7%	194.3K	-13.6M	-95.7K	0.14	64.76	N/A	N/A	8,410	1,206	182,243	23,456
2025-12-05	$2.79	$3.00	128.2%	40.3%	92.2%	20.3%	140.3%	7.2%	-15.1%	156.9K	-13.8M	-91.8K	0.25	75.70	N/A	N/A	2,774	706	186,765	24,136
2025-12-08	$2.75	$3.00	146.6%	40.4%	92.1%	28.0%	131.9%	33.8%	2.7%	157.4K	-12.1M	-90.8K	0.49	66.05	N/A	N/A	4,825	2,359	184,533	23,630
2025-12-09	$2.79	$3.00	160.0%	38.4%	92.8%	33.7%	138.7%	-18.0%	-3.3%	157.8K	-12.2M	-89.7K	0.10	69.56	N/A	N/A	9,635	1,003	185,296	25,494
2025-12-10	$2.80	$3.00	136.3%	40.0%	86.2%	23.7%	135.2%	17.9%	-2.9%	168.9K	-10.8M	-87.2K	0.61	84.47	N/A	N/A	2,153	1,309	190,811	26,095
2025-12-11	$2.65	$3.00	128.2%	42.3%	86.3%	20.3%	144.7%	-21.1%	20.9%	140.4K	-10.3M	-84.8K	0.49	79.99	N/A	N/A	3,510	1,729	191,923	27,291
2025-12-12	$2.55	$3.00	135.7%	39.3%	83.4%	23.4%	147.3%	4.0%	-0.8%	130.9K	-9.1M	-83.1K	0.37	59.57	N/A	N/A	4,737	1,774	192,898	28,843
2025-12-15	$2.37	$3.00	141.0%	40.3%	86.4%	25.7%	158.6%	-21.0%	-33.8%	99.6K	-7.1M	-74.6K	0.49	74.67	N/A	N/A	4,158	2,040	190,536	29,189
2025-12-16	$2.96	$3.00	132.1%	37.5%	115.6%	21.9%	140.3%	-21.5%	31.8%	175.8K	-15.0M	-97.6K	0.11	51.21	N/A	N/A	53,647	5,670	191,607	30,477
2025-12-17	$2.42	$3.00	138.4%	39.7%	133.6%	24.6%	146.7%	-27.0%	-14.5%	128.6K	-8.4M	-80.7K	0.22	63.08	N/A	N/A	23,854	5,279	217,689	31,659
2025-12-18	$2.25	$3.00	122.7%	35.2%	134.9%	17.9%	130.4%	3.3%	23.2%	123.7K	-7.0M	-67.7K	0.13	61.69	N/A	N/A	14,933	1,950	223,193	31,371
2025-12-19	$2.58	$3.00	141.1%	39.8%	145.0%	25.7%	144.9%	-22.7%	11.4%	191.5K	-12.8M	-91.8K	0.12	53.24	N/A	N/A	17,071	2,122	229,996	28,341
2025-12-22	$2.87	$3.00	161.8%	43.4%	150.6%	34.4%	157.5%	0.7%	15.2%	254.5K	-17.9M	-101.3K	0.14	53.68	N/A	N/A	23,611	3,325	207,909	23,499
2025-12-23	$2.79	$3.00	149.3%	44.6%	149.1%	29.2%	162.1%	39.8%	10.8%	270.8K	-17.1M	-104.7K	0.08	46.36	N/A	N/A	31,887	2,441	217,737	25,560
2025-12-24	$2.88	$3.00	144.6%	43.8%	148.1%	27.2%	159.0%	-2.0%	18.6%	392.3K	-19.2M	-106.3K	0.15	55.21	N/A	N/A	4,882	729	226,210	27,179
2025-12-26	$2.81	$3.00	136.5%	46.0%	148.3%	23.8%	176.4%	5.6%	11.9%	221.5K	-17.1M	-104.8K	0.23	46.73	N/A	N/A	8,466	1,917	229,098	27,241
2025-12-29	$2.67	$3.00	143.9%	46.3%	149.1%	26.9%	167.9%	-12.8%	-13.8%	206.2K	-15.4M	-99.5K	0.11	43.35	N/A	N/A	14,430	1,630	212,494	27,483
2025-12-30	$2.56	$3.00	135.0%	46.2%	146.3%	23.1%	179.0%	-23.1%	-29.3%	183.9K	-14.3M	-92.8K	0.25	43.49	N/A	N/A	5,527	1,383	214,662	28,545
2025-12-31	$2.56	$3.00	143.3%	45.8%	144.1%	26.6%	170.8%	-37.6%	-23.8%	181.9K	-13.5M	-92.5K	0.10	56.17	N/A	N/A	7,501	728	216,030	29,118