Stock Ratings / Industrials / REFR / options

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Research Frontiers Incorporated (REFR) Options Positioning, Max Pain & Unusual Sweeps

Q: What is REFR's options positioning and volatility profile?

Roarable tracks verified CBOE unusual options sweeps, put/call ratios, and OHLCV realized volatility bands for REFR.

$0.38 -13.63% NASDAQ • Live Quote vs Prior Daily Close (Synced Snapshot)

Research Frontiers Incorporated (REFR) carries a Roarable Rating of D- (Sell) with 36/100 RQD Confidence due to weak cash-flow efficiency and sensitivity to current interest rates. Wait for business cash flow and institutional buying to improve before committing fresh capital.

ROARABLE D- • RED ALERT Cap $13.3M

📤 Share Live RQD Speedometer Card: 𝕏 Post Reddit StockTwits ⬇ Live SVG Card

INTERACTIVE SCENARIO DECK:

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RQD QUANT TACHOMETERRED ALERT • D-

3-of-3 JEV AI Jury Bearish Warning

Cash

SEC

Whale

Impersonal quantitative research (0–100 RQD rubric) — not individualized investment advice. Past performance does not guarantee future results. Full Disclaimer

5-PILLAR SNOWFLAKE RADARRw D- · Rk D-

Each axis scored 0–20

12M PRICE TARGET CONE-10.5% Base Target

WHALE OPTIONS SNAPSHOT: — (No Active Options Snapshot on file for REFR)Realized 20D OHLCV Swing Band: ±12.5%

CALL VS. PUT WHALE SHARE

— (No Active Options Snapshot)

Put/Call Ratio: — (No Active Options Snapshot)

MAX-PAIN EXPIRATION MAGNET

— (No Active Options Snapshot)

No active options chain max-pain snapshot on file

HISTORICAL 20D VOLATILITY SWING

±12.5%

Derived from 20D OHLCV bars (No Active Options Snapshot)

Active Strike Call vs. Put Concentration Ladder (REFR)

— (No Active Options Snapshot) — No unusual CBOE strike concentration anomalies recorded in the current database snapshot for REFR.

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Red-Light Warning Desk: Spotting SEC Cash-Flow & Dilution Risks Before Downgrades (Featuring REFR)

✓Walkthrough of REFR's RQD Radar, SEC cash-conversion gap & downside invalidation levels
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REFR // CANDLESTICK & AUTO-TRENDLINE WORKSTATION6M: -58.70%🛡️ HOLDING TREND SUPPORT

2026-10-30O $0.39H $0.40L $0.34C $0.38VOL 200.3K

RES: $0.99SUP: $0.33SMA50: $0.54SMA200: $0.75

PRIMARY-SOURCE FORENSICS, SECOND-ORDER LINKS & AI ANALYST DESK

REFR Dilution Monitor, Expectations Hurdle, Butterfly Connections & Policy Exposure

🦋 REFR Butterfly Map → + Track REFR →

Share Count & Dilution Monitor (#25)

Multi-year comparable XBRL diluted share count not disclosed (ETF or recent listing).

Reverse-DCF Expectations Hurdle (#30)

8.0%/yr Implied 5Y Growth

vs. -16.0% actual YoY revenue growth (assuming 9.25% cost of equity & 16.5x terminal multiple).

Ellis Vennor Setup Ledger (#33)

No active Ellis Vennor swing setup published on REFR today. View full Setup Ledger →

🦋 Documented & Second-Order Butterfly Connections Open Graph →

No direct multi-tier Butterfly edges indexed yet for REFR. Explore sector supply chains on /butterfly.

AI Analyst Theses, Washington Policy & Company Video

🎬 No recent verified company-specific video clip queued for REFR today (we never pad ticker pages with unrelated generic clips). Browse Macro Video Desk →

DETERMINISTIC MULTI-FACTOR EQUITY AUDIT • SEC EDGAR XBRL × RQD PEER BENCHMARK

📊 Quantitative Sector Peer Comparison, SEC Filing Delta & Investment FAQ (REFR)

Industrials Rank #406 of 485 ⚔️ RMCO vs REFR Full Matrix →

1. Head-to-Head Industrials Peer Comparison (REFR vs. RMCO, NTIP, VHC, AMOD)

Industry: Multi-Sector Companies (11 Tracked Issuers)

Across 485 tracked Industrials securities in the Roarable RQD universe, Research Frontiers Incorporated (REFR) ranks #406 by composite RQD confidence (36/100, grade D-) and #445 by equity capitalization ($13.3M). Within this direct 5-issuer industry benchmark cohort, REFR leads on earnings valuation at N/A trailing P/E, while RMCO leads on capital efficiency and profitability with -1.7% ROIC and 16.3% gross margin. RMCO currently holds the highest overall quantitative score in the immediate peer group at 44/100 (D) compared with REFR at 36/100 (D-).

Ticker / Company	Roarable Grade	RQD Score	Trailing P/E	Gross Margin	ROIC	1D Change	Market Cap	Head-to-Head
REFR ACTIVE Research Frontiers Incorporated	D-	36/100	—	—	-35.0%	-13.63%	$13.3M	Benchmark Subject
RMCO Royalty Management Holding Corporation (Class A)	D	44/100	—	16.3%	-1.7%	+5.86%	$35.7M	/rmco-vs-refr →
NTIP Network-1 Technologies Inc.	D-	39/100	—	72.0%	-10.0%	+0.63%	$36.4M	/ntip-vs-refr →
VHC VirnetX Holding Corp	E	32/100	—	—	-35.0%	-3.89%	$43.9M	/vhc-vs-refr →
AMOD Alpha Modus Holdings Inc. (Class A)	E	30/100	—	96.0%	-35.0%	-8.93%	$65.1M	/amod-vs-refr →

2. Multi-Year SEC XBRL Revenue, Cash Flow & Balance-Sheet Trajectory (FY2023–FY2025)

SEC EDGAR 10-K • FILED 2025-12-31 • CIK 0000793524

In its most recent audited fiscal period (FY2025, filed 2025-12-31), Research Frontiers Incorporated (REFR) reported GAAP revenue of $1.1M (-16.0% vs. FY2024 revenue of $1.3M , and +23.3% cumulative change since FY2023) , GAAP net income of -$2.0M, operating cash flow of -$1.3M, and free cash flow of -$1.3M (-68.2% YoY). On the balance sheet, REFR closed FY2025 with $2.3M in total assets against $0 in total debt (Altman Z-Score: N/A, Piotroski F-Score: 2/9).

Fiscal Period	Filing Date	Revenue	Net Income	Operating Cash Flow	Free Cash Flow	Total Assets	Total Debt
FY2025 (FY)	2025-12-31	$1.1M	-$2.0M	-$1.3M	-$1.3M	$2.3M	—
FY2024 (FY)	2024-12-31	$1.3M	-$1.3M	-$788.8K	-$790.4K	$4.0M	—
FY2023 (FY)	2023-12-31	$909.6K	-$1.9M	-$2.3M	-$2.3M	—	—

3. REFR Data-Verified Investor FAQ (RQD Rating, Sector Peers, SEC Forensics & Technicals)

✓ SCHEMA.ORG FAQPAGE JSON-LD ENABLED

Is REFR stock a Buy, Hold, or Sell right now according to Roarable's RQD model?

As of 2026-11-01, Research Frontiers Incorporated (NASDAQ: REFR) is rated D- (Sell / SELL) by Roarable's 5-pillar RQD engine with a composite confidence score of 36/100 at a spot price of $0.38 (-13.63% 1D, market cap $13.3M). Pillar breakdown: Fundamental Cash Engine 8/20, Institutional 13F & Options Flow 11/20, Executive Insider Alignment 8/20, FRED Macro Regime Fit 6/20, and SEC Balance-Sheet Forensics 3/20. Across 485 tracked Industrials issuers, REFR ranks #406 in composite RQD confidence.

How does REFR compare to RMCO and NTIP in the Industrials sector?

Within the Industrials sector (Multi-Sector Companies), REFR carries a Roarable D- (36/100 RQD), trailing P/E of N/A, gross margin of —, and ROIC of -35.0%. By comparison, RMCO (Royalty Management Holding Corporation (Class A)) holds a D grade (44/100 RQD, P/E N/A, ROIC -1.7%, cap $35.7M) and NTIP (Network-1 Technologies Inc.) posts a D- grade (39/100 RQD, P/E N/A, ROIC -10.0%, cap $36.4M). Among the 5-stock peer group, REFR leads on earnings multiple (N/A) while RMCO leads on capital efficiency (-1.7% ROIC).

What are the biggest fundamental strengths and SEC risk factors for REFR?

Per REFR's SEC EDGAR XBRL 10-K filing (FY2025, filed 2025-12-31, CIK 0000793524), Research Frontiers Incorporated generated $1.1M in revenue (-16.0% YoY), -$2.0M in net income, and -$1.3M in free cash flow against $2.3M in total assets and $0 in total debt. Key quantitative strengths: Established market leader in Industrials with deep daily trading liquidity.. Primary risk factors monitored: Company executives have done more routine share selling than personal cash buying lately.. Institutional options positioning shows a 50% call / 50% put premium split.

Where is REFR trading relative to its 50-day, 200-day, and 52-week technical levels?

REFR last traded at $0.38 (-13.63% on volume of 126,510 shares), positioning the stock -29.63% below its 50-day simple moving average ($0.54) and -49.33% below its 200-day simple moving average ($0.75). Across its 52-week range of $0.34 to $2.10, REFR sits at the 2.3% percentile with a 14-day RSI of 29.5 (OVERSOLD (<32)) and an implied next-earnings move of ±12.5% ($1.00 to $0.43).

REFR Investor FAQ & Complete 8-Part Research Index

100% OPEN ACCESS • SEC EDGAR × CBOE × FRED

What is REFR's options positioning and volatility profile?

Roarable tracks verified CBOE unusual options sweeps, put/call ratios, and OHLCV realized volatility bands for REFR.

Direct Sub-Reports: REFR RQD Cockpit REFR 12M Forecast REFR Earnings & Move REFR Dividends & DRIP REFR Insiders & 13F REFR Whale Options REFR Profit Sankey REFR News & Why