Reformation REF
$18.05 +$1.20 (+7.12%)
Market closed · Nov 6, 8:10 pm ET · Last extended-hours $18.05 0.00%
Open$16.90
Prev close$16.85
Day range$16.02 – $18.09
Volume930.9K
Market cap$1.07B
P/E (TTM)196.2
Dividend yield–
Average implied volatility across the listed chain right now: 127%. Implied volatility measures how big a price swing the options market is pricing in — there is no fixed “normal” level, it varies a lot by stock.
Open interest by strike
Nearest listed expiry only. Calls above the line, puts below — clusters mark strikes where the market has built up the most open positions.
Implied volatility by strike
The “volatility smile”: strikes far from the current price often price in richer implied volatility than at-the-money strikes.
Calls
| Expiry | Strike | Last | Bid/Ask | Volume | Open interest | IV |
|---|---|---|---|---|---|---|
| 20 Nov 2026 | $17.50 | $1.06 | $1.10/$1.30 | 76 | 1,187 | 66% |
| 20 Nov 2026 | $20.00 | $0.18 | $0.20/$0.35 | 0 | 507 | 66% |
| 20 Nov 2026 | $15.00 | $2.24 | $2.75/$3.50 | 0 | 169 | 64% |
| 20 Nov 2026 | $22.50 | $0.03 | $0.00/$0.25 | 0 | 0 | 63% |
| 20 Nov 2026 | $12.50 | $4.40 | $4.00/$7.30 | 0 | 1 | 123% |
| 20 Nov 2026 | $25.00 | $0.00 | $0.00/$0.25 | 0 | 0 | 67% |
| 20 Nov 2026 | $10.00 | $6.86 | $6.50/$9.20 | 0 | 0 | 0% |
| 20 Nov 2026 | $7.50 | $9.35 | $9.00/$12.30 | 0 | 0 | 266% |
| 20 Nov 2026 | $5.00 | $11.85 | $11.50/$14.20 | 0 | 0 | 0% |
| 20 Nov 2026 | $2.50 | $14.35 | $14.00/$16.90 | 0 | 0 | 0% |
Puts
| Expiry | Strike | Last | Bid/Ask | Volume | Open interest | IV |
|---|---|---|---|---|---|---|
| 20 Nov 2026 | $17.50 | $1.44 | $0.60/$0.80 | 0 | 0 | 72% |
| 20 Nov 2026 | $20.00 | $3.31 | $2.05/$2.40 | 0 | 0 | 69% |
| 20 Nov 2026 | $15.00 | $0.38 | $0.05/$1.10 | 0 | 3 | 137% |
| 20 Nov 2026 | $22.50 | $5.67 | $4.00/$6.30 | 0 | 0 | 152% |
| 20 Nov 2026 | $12.50 | $0.04 | $0.00/$0.25 | 0 | 50 | 110% |
| 20 Nov 2026 | $25.00 | $8.15 | $6.60/$8.60 | 0 | 0 | 184% |
| 20 Nov 2026 | $10.00 | $0.00 | $0.00/$2.15 | 0 | 4 | 109% |
| 20 Nov 2026 | $7.50 | $0.00 | $0.00/$0.45 | 0 | 0 | 129% |
| 20 Nov 2026 | $5.00 | $0.00 | $0.00/$0.75 | 0 | 0 | 187% |
| 20 Nov 2026 | $2.50 | $0.00 | $0.00/$0.05 | 0 | 0 | 286% |
Open interest = contracts currently outstanding (not yet closed out). Higher open interest generally means a strike/expiry is more actively traded and easier to get in and out of.
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