NexPoint Real Estate Finance (NREF) Options Chain

NYSE: NREFReal EstateReal Estate Investment TrustsUSD

15.38-0.20 (-1.28%)

At close: Oct 9, 4:00 PM ET · Delayed 15 min

Expiration date

Expiration: Nov 20, 2026
Days to expiration: 40
Share price: $15.38
Put/call ratio (OI): 0.41
Put/call ratio (volume): 9.18
ATM implied volatility: 52.4%
Expected move: ±$2.67
Open interest (C / P): 266 / 110

NREF options summary

The NREF options chain for the November 20, 2026 expiration lists 4 call and 3 put contracts, with 40 days until expiration. Open interest stands at 266 calls and 110 puts, a put/call ratio of 0.41, which is tilted bullish, with calls outnumbering puts. At-the-money implied volatility near the $15.00 strike is 52.4%, which implies the market expects a move of about ±$2.67 (17.4%) in NexPoint Real Estate Finance stock by expiration.

The most open interest sits at the $17.50 call (261 contracts) and the $12.50 put (100 contracts).

Summary generated from market data by MetaCap's automated system. Methodology

NREF options chain · November 20, 2026

NREF calls and puts by strike price. Shaded cells are in the money.
Calls							Puts
OI	Vol	IV	Last	Bid	Ask	Strike	Bid	Ask	Last	IV	Vol	OI
0	1	411.7%	15.30	11.80	14.60	2.50	—	—	—	—	—	—
0	—	439.8%	11.20	10.50	13.10	5.00	—	—	—	—	—	—
—	—	—	—	—	—	12.50	0.00	1.50	1.45	99.7%	100	100
5	5	59.2%	0.85	0.45	2.35	15.00	0.00	0.75	0.57	45.7%	1	9
NREF $15.38
261	5	40.2%	0.05	0.00	0.20	17.50	1.50	2.90	1.45	74.2%	—	1

In-the-money callsIn-the-money puts. IV = implied volatility, OI = open interest (contracts). Each contract covers 100 shares. Quotes delayed at least 15 minutes.

Frequently asked questions

What is the NREF put/call ratio?

For the November 20, 2026 expiration, the NREF put/call ratio based on open interest is 0.41 (110 puts vs 266 calls), and 9.18 based on today's volume. A ratio above 1 means more puts than calls.

What is NREF's implied volatility?

At-the-money implied volatility for NREF options expiring November 20, 2026 is about 52.4%, an annualized estimate of how much the market expects NexPoint Real Estate Finance stock to move.

How many NREF option expiration dates are there?

NREF has 3 listed expiration dates, from Oct 16, 2026 to Feb 19, 2027.

What does "in the money" mean?

A call is in the money when the strike price is below the current share price; a put is in the money when the strike is above it. In-the-money contracts have intrinsic value and are shaded in the table.