CVNA Options History — August 2018

In August 2018, CVNA traded between $1.74 and $2.58. ATM implied volatility averaged 65.6%, placing in the 13.2% IV rank vs the trailing year. The 30-day expected move averaged 17.2%. IV traded above realized volatility by 15.0% (HV 20d: 50.6%). Max pain ranged from $1.40 to $2.00. Net GEX was positive for 23 of 23 trading days. Term structure was in contango for 16 of 23 days. Put/call ratio averaged 0.65.

Notable Days

2018-08-09: Highest Volume — 313,325 contracts
2018-08-09: Largest IV drop — 39.9% change
2018-08-08: Highest IV Rank — 39.0%
2018-08-02: Largest Expected Move — 27.7%

Monthly Statistics

Metric	Avg	Min	Max	Open	Close
Price	$2.19	$1.74	$2.58	$1.75	$2.58
Max Pain	$1.78	$1.40	$2.00	$1.40	$2.00
ATM IV	65.6%	50.0%	105.4%	95.6%	51.4%
Expected Move	17.2%	14.3%	27.7%	27.4%	14.7%
HV 20d	50.6%	39.0%	59.8%	59.8%	41.2%
HV 60d	60.7%	56.5%	62.4%	62.3%	56.5%
IV Rank	13.2%	2.0%	39.0%	32.3%	3.3%
IV Percentile	30.4%	1.2%	96.4%	89.7%	6.0%
Term Structure	-1.7%	-24.9%	6.4%	-23.8%	-0.2%
VWIV	61.1%	50.5%	99.7%	96.2%	52.5%
Skew 25d	5.0%	2.8%	9.4%	9.2%	4.5%
Skew 10d	10.6%	7.0%	20.2%	18.0%	8.0%
Call IV 25d	58.4%	48.6%	93.5%	90.4%	49.8%
Put IV 25d	63.4%	52.8%	101.0%	99.6%	54.3%
Bid-Ask Spread %	21.10	13.53	69.46	69.46	16.25
Gamma HHI	0.19	0.14	0.50	0.14	0.18
Net GEX	1.1M	492.7K	3.1M	492.7K	1.2M
Net DEX	-110.1M	-148.0M	-58.0M	-58.6M	-144.9M
Net VEX	-206.4K	-269.2K	-153.4K	-188.8K	-269.2K
Div Yield	0.0%	0.0%	0.0%	0.0%	0.0%
P/C Ratio	0.65	0.21	1.26	1.21	0.55
Total Volume	165,910.87	91,125	313,325	100,725	107,025
Total OI	1,137,578.261	822,700	1,462,300	1,149,275	1,129,650

Daily Data (23 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 Vol	Put Vol	Call OI	Put OI
2018-08-01	$1.75	$1.40	95.6%	27.4%	59.8%	32.3%	96.2%	9.2%	-23.8%	492.7K	-58.6M	-188.8K	1.21	69.46	45,650	55,075	642,950	506,325
2018-08-02	$1.74	$1.40	96.5%	27.7%	53.5%	32.9%	99.7%	7.5%	-24.9%	502.1K	-58.0M	-190.0K	1.16	18.31	44,125	51,200	645,375	509,525
2018-08-03	$1.80	$1.40	95.3%	27.3%	51.9%	32.2%	99.3%	9.4%	-23.6%	570.3K	-66.3M	-185.8K	1.26	15.82	44,100	55,700	648,625	510,175
2018-08-06	$1.87	$1.56	100.8%	20.2%	50.1%	35.9%	71.3%	6.8%	-4.3%	620.8K	-75.5M	-175.7K	1.25	16.71	40,575	50,550	649,625	511,350
2018-08-07	$1.88	$1.56	101.9%	19.5%	49.7%	36.6%	69.7%	5.7%	-0.6%	654.1K	-78.2M	-168.4K	1.08	18.40	46,475	50,150	651,000	513,825
2018-08-08	$1.91	$1.60	105.4%	19.6%	49.8%	39.0%	68.5%	4.4%	-4.7%	651.7K	-80.3M	-169.2K	0.56	36.17	118,825	65,975	653,100	518,550
2018-08-09	$2.05	$1.60	63.3%	16.5%	54.4%	14.8%	58.1%	5.6%	5.4%	922.9K	-105.8M	-153.4K	0.32	25.23	236,875	76,450	701,775	531,750
2018-08-10	$2.15	$1.76	55.8%	15.6%	54.7%	7.6%	55.9%	5.7%	6.4%	1.2M	-132.6M	-203.2K	0.58	23.74	116,100	67,750	833,125	544,725
2018-08-13	$2.15	$1.76	64.3%	16.3%	54.8%	15.7%	57.9%	4.6%	5.4%	1.1M	-132.0M	-201.8K	0.58	19.02	98,350	56,575	846,425	550,225
2018-08-14	$2.19	$1.80	62.0%	14.9%	55.0%	13.6%	52.7%	4.9%	4.3%	1.3M	-137.6M	-192.0K	0.43	20.16	154,775	67,100	840,525	556,300
2018-08-15	$2.13	$1.88	55.1%	15.8%	56.4%	6.9%	54.8%	2.8%	2.9%	1.3M	-133.7M	-216.1K	0.40	23.08	141,875	57,275	888,775	568,825
2018-08-16	$2.18	$1.88	52.5%	15.0%	54.5%	4.4%	52.8%	4.3%	4.7%	1.6M	-140.4M	-214.4K	0.44	17.67	144,500	63,100	889,875	568,275
2018-08-17	$2.21	$1.88	50.7%	14.5%	53.3%	2.7%	51.4%	3.3%	5.8%	3.1M	-148.0M	-212.5K	1.07	16.53	87,375	93,125	889,450	572,850
2018-08-20	$2.34	$1.88	50.7%	14.5%	53.5%	2.7%	51.9%	3.5%	0.8%	1.1M	-96.1M	-210.2K	0.81	13.80	71,150	57,975	583,500	239,275
2018-08-21	$2.33	$1.92	52.0%	14.9%	53.9%	3.9%	52.2%	4.0%	0.4%	1.1M	-95.4M	-208.2K	0.21	14.49	207,900	43,575	585,475	237,225
2018-08-22	$2.32	$1.92	50.3%	14.4%	53.3%	2.3%	50.9%	4.4%	0.6%	1.2M	-107.5M	-225.8K	0.30	19.16	116,875	35,225	662,300	243,150
2018-08-23	$2.31	$1.92	50.0%	14.3%	53.5%	2.0%	51.2%	3.5%	2.1%	1.2M	-106.3M	-225.2K	0.29	13.53	127,050	36,975	664,400	247,900
2018-08-24	$2.40	$1.96	50.2%	14.4%	51.5%	2.2%	50.5%	4.3%	0.9%	1.2M	-118.9M	-223.0K	0.44	14.95	133,150	58,850	672,225	255,225
2018-08-27	$2.49	$1.96	52.3%	15.0%	40.3%	4.2%	52.4%	4.1%	0.9%	1.2M	-128.1M	-224.5K	0.27	17.61	151,150	41,300	681,175	281,250
2018-08-28	$2.53	$2.00	50.7%	14.5%	39.0%	2.7%	53.1%	4.6%	1.4%	1.2M	-131.3M	-228.6K	0.43	18.66	91,775	39,725	685,875	285,975
2018-08-29	$2.52	$2.00	51.0%	14.6%	39.7%	2.9%	51.2%	4.0%	0.4%	1.2M	-130.5M	-230.1K	0.43	17.61	86,425	37,325	687,700	288,850
2018-08-30	$2.48	$2.00	51.7%	14.8%	41.0%	3.6%	51.8%	4.0%	1.5%	1.2M	-126.4M	-231.8K	0.77	18.87	137,150	105,725	697,300	292,525
2018-08-31	$2.58	$2.00	51.4%	14.7%	41.2%	3.3%	52.5%	4.5%	-0.2%	1.2M	-144.9M	-269.2K	0.55	16.25	69,150	37,875	767,100	362,550