CVNA Options History — September 2018

In September 2018, CVNA traded between $2.36 and $2.82. ATM implied volatility averaged 61.8%, placing in the 13.3% IV rank vs the trailing year. The 30-day expected move averaged 17.7%. IV traded below realized volatility by 0.5% (HV 20d: 62.3%). Max pain ranged from $2.00 to $2.40. Net GEX was positive for 19 of 19 trading days. Term structure was in contango for 17 of 19 days. Put/call ratio averaged 0.72.

Notable Days

  • 2018-09-13: Highest Volume — 204,475 contracts
  • 2018-09-10: Largest IV spike — 8.4% change
  • 2018-09-18: Highest IV Rank — 18.0%
  • 2018-09-18: Largest Expected Move — 19.1%

Monthly Statistics

MetricAvgMinMaxOpenClose
Price$2.49$2.36$2.82$2.68$2.36
Max Pain$2.36$2.00$2.40$2.00$2.40
ATM IV61.8%56.3%66.6%56.3%59.3%
Expected Move17.7%16.1%19.1%16.1%17.0%
HV 20d62.3%41.3%68.7%41.3%65.5%
HV 60d57.9%55.4%61.4%56.7%55.4%
IV Rank13.3%8.1%18.0%8.1%10.9%
IV Percentile27.4%15.9%40.5%15.9%21.4%
Term Structure7.4%-2.4%11.4%-1.4%10.5%
VWIV62.1%55.6%65.6%55.6%59.2%
Skew 25d5.3%3.9%7.2%5.1%7.2%
Skew 10d11.6%2.8%14.6%10.4%14.6%
Call IV 25d60.4%53.8%65.3%53.8%57.3%
Put IV 25d65.7%58.9%71.7%58.9%64.5%
Bid-Ask Spread %20.5811.6138.9011.6114.26
Gamma HHI0.230.140.710.180.21
Net GEX1.5M897.9K6.3M1.1M907.1K
Net DEX-121.6M-182.5M-90.5M-159.3M-90.5M
Net VEX-288.9K-315.6K-247.9K-247.9K-315.6K
Div Yield0.0%0.0%0.0%0.0%0.0%
P/C Ratio0.720.471.020.500.81
Total Volume144,481.579113,650204,475126,475133,925
Total OI1,270,293.4211,126,3251,439,7751,126,3251,294,450

Daily Data (19 trading days)

DatePriceMax PainATM IVExp MoveHV 20dIV RankVWIVSkew 25dTerm StrGEXDEXVEXP/CSpread %Call VolPut VolCall OIPut OI
2018-09-04$2.68$2.0056.3%16.1%41.3%8.1%55.6%5.1%-1.4%1.1M-159.3M-247.9K0.5011.6184,35042,125766,500359,825
2018-09-05$2.48$2.0058.8%16.9%53.0%10.4%59.0%6.0%-2.4%1.2M-128.6M-275.3K0.7518.3171,72554,100774,225366,350
2018-09-06$2.38$2.4059.6%16.9%56.5%11.2%59.5%5.3%6.3%1.2M-112.6M-288.4K0.5514.6591,27549,925779,025386,025
2018-09-07$2.45$2.4058.7%17.0%52.1%10.3%60.2%5.0%7.2%1.3M-125.4M-288.6K0.6116.4974,87546,000794,375392,500
2018-09-10$2.71$2.4063.6%17.8%60.1%15.1%63.2%4.9%5.6%1.1M-165.7M-262.6K0.4713.18117,42555,750799,550399,625
2018-09-11$2.82$2.4064.4%18.6%60.5%15.9%65.3%5.5%5.8%1.0M-182.5M-255.6K0.4816.89123,40059,325814,425411,975
2018-09-12$2.70$2.4063.6%18.2%63.7%15.1%65.0%5.0%7.6%1.1M-164.8M-271.4K0.6021.1292,57555,250826,900423,225
2018-09-13$2.56$2.4065.6%18.8%66.5%17.0%64.9%4.1%6.4%1.2M-135.0M-278.8K0.6721.25122,55081,925806,925423,525
2018-09-14$2.53$2.4063.5%18.2%66.7%15.0%63.4%5.4%7.5%1.4M-129.8M-290.1K0.9117.5796,92587,925837,875446,000
2018-09-17$2.43$2.4065.8%18.9%68.7%17.2%65.3%5.0%8.7%1.4M-111.1M-301.7K0.7826.7880,30062,500863,550487,025
2018-09-18$2.38$2.4066.6%19.1%66.7%18.0%65.6%6.3%7.3%1.5M-102.6M-307.4K0.6519.1998,57564,350885,875511,200
2018-09-19$2.36$2.4063.8%18.3%66.7%15.3%64.0%4.6%9.9%1.7M-99.1M-309.9K0.7919.6165,02551,600916,950518,400
2018-09-20$2.42$2.4062.4%17.9%67.2%13.9%63.7%6.2%9.7%2.2M-112.0M-304.1K0.7521.7865,02548,625916,725521,575
2018-09-21$2.39$2.4059.0%16.9%67.3%10.7%59.9%5.8%10.8%6.3M-102.0M-294.7K0.9825.2462,40061,425918,500521,275
2018-09-24$2.37$2.4060.1%17.2%65.9%11.7%61.5%4.2%11.4%897.9K-92.0M-285.8K0.7738.9064,87550,200761,950444,400
2018-09-25$2.37$2.4060.5%17.4%64.6%12.1%61.6%3.9%9.5%942.8K-93.3M-287.2K1.0224.0270,85072,350768,600448,150
2018-09-26$2.44$2.4062.1%17.8%65.3%13.6%61.9%4.5%9.8%977.4K-104.7M-312.3K0.7523.8388,47566,125784,525480,050
2018-09-27$2.41$2.4060.3%17.3%65.4%11.9%60.6%6.9%9.9%959.7K-99.5M-311.9K0.7726.2773,87557,225795,250488,275
2018-09-28$2.36$2.4059.3%17.0%65.5%10.9%59.2%7.2%10.5%907.1K-90.5M-315.6K0.8114.2674,17559,750800,250494,200