CVNA Options History — October 2018

In October 2018, CVNA traded between $1.49 and $2.29. ATM implied volatility averaged 88.2%, placing in the 38.8% IV rank vs the trailing year. The 30-day expected move averaged 25.7%. IV traded above realized volatility by 31.3% (HV 20d: 56.9%). Max pain ranged from $1.76 to $2.40. Net GEX was positive for 22 of 23 trading days. Term structure was in contango for 3 of 23 days. Put/call ratio averaged 0.74.

Notable Days

2018-10-15: Highest Volume — 466,700 contracts
2018-10-10: Largest IV spike — 27.0% change
2018-10-30: Highest IV Rank — 68.2%
2018-10-30: Largest Expected Move — 34.1%

Monthly Statistics

Metric	Avg	Min	Max	Open	Close
Price	$1.82	$1.49	$2.29	$2.29	$1.54
Max Pain	$1.86	$1.76	$2.40	$2.40	$1.76
ATM IV	88.2%	59.9%	118.8%	63.0%	112.6%
Expected Move	25.7%	17.2%	34.1%	18.1%	32.3%
HV 20d	56.9%	36.8%	66.5%	64.3%	66.5%
HV 60d	59.3%	54.7%	62.7%	55.0%	62.4%
IV Rank	38.8%	11.5%	68.2%	14.5%	62.2%
IV Percentile	75.6%	23.0%	98.8%	31.7%	97.2%
Term Structure	-13.9%	-26.4%	10.3%	7.8%	-24.8%
VWIV	90.3%	60.2%	125.8%	60.2%	110.5%
Skew 25d	7.7%	-0.9%	11.6%	6.3%	9.8%
Skew 10d	16.1%	7.4%	21.1%	12.7%	18.5%
Call IV 25d	87.2%	59.4%	123.0%	59.6%	109.7%
Put IV 25d	94.9%	64.5%	123.4%	65.9%	119.5%
Bid-Ask Spread %	24.42	10.94	46.52	10.94	23.73
Gamma HHI	0.17	0.12	0.30	0.20	0.18
Net GEX	462.4K	-288.4K	797.1K	797.1K	545.8K
Net DEX	-32.4M	-78.1M	-1.0M	-78.1M	-20.3M
Net VEX	-348.3K	-423.4K	-279.9K	-300.1K	-352.9K
Div Yield	0.0%	0.0%	0.0%	0.0%	0.0%
P/C Ratio	0.74	0.14	1.46	0.76	0.82
Total Volume	205,481.522	116,175	466,700	134,300	246,550
Total OI	1,512,104.348	1,296,450	1,797,350	1,296,450	1,504,950

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
2018-10-01	$2.29	$2.40	63.0%	18.1%	64.3%	14.5%	60.2%	6.3%	7.8%	797.1K	-78.1M	-300.1K	0.76	10.94	76,125	58,175	801,500	494,950
2018-10-02	$2.16	$2.40	61.6%	17.6%	64.3%	13.1%	61.4%	8.5%	7.5%	624.0K	-55.3M	-281.8K	0.67	13.71	101,775	68,150	806,250	495,550
2018-10-03	$2.17	$2.40	59.9%	17.2%	59.6%	11.5%	62.5%	4.1%	10.3%	538.9K	-57.1M	-294.5K	0.47	25.23	99,050	46,325	833,750	534,925
2018-10-04	$2.12	$1.80	62.9%	20.8%	58.5%	14.4%	77.5%	8.8%	-8.6%	468.3K	-49.0M	-288.5K	0.88	17.98	80,900	70,825	859,800	535,475
2018-10-05	$2.15	$1.80	63.9%	21.3%	57.6%	15.4%	76.8%	7.9%	-9.3%	476.8K	-52.5M	-300.3K	0.65	17.47	77,425	50,375	870,200	560,650
2018-10-08	$2.10	$1.80	73.6%	22.7%	41.4%	24.7%	81.5%	7.5%	-12.3%	380.3K	-44.2M	-290.1K	0.74	22.46	69,600	51,400	873,400	563,750
2018-10-09	$2.04	$1.80	72.1%	23.1%	36.8%	23.2%	78.9%	8.0%	-13.4%	281.8K	-35.3M	-279.9K	0.14	30.42	309,950	43,275	879,725	563,825
2018-10-10	$1.88	$1.80	91.5%	26.2%	42.1%	41.9%	90.1%	8.5%	-15.8%	536.1K	-32.6M	-383.9K	0.29	22.13	199,550	58,350	1,115,575	563,825
2018-10-11	$1.77	$1.80	94.1%	27.0%	43.5%	44.4%	91.8%	11.6%	-18.0%	283.3K	-14.3M	-402.0K	0.49	41.95	256,725	125,875	1,123,125	612,225
2018-10-12	$1.87	$1.80	88.4%	25.4%	51.4%	38.9%	89.9%	9.6%	-17.0%	283.2K	-28.0M	-423.4K	1.46	21.39	99,950	145,550	1,067,250	592,750
2018-10-15	$1.76	$1.80	96.8%	27.8%	53.5%	47.0%	94.8%	8.6%	-22.5%	309.2K	-17.6M	-393.7K	0.31	31.43	355,475	111,225	1,103,325	584,125
2018-10-16	$1.82	$1.76	89.0%	25.5%	56.7%	39.5%	87.3%	8.8%	-17.3%	358.8K	-31.1M	-405.8K	0.87	34.52	112,325	97,375	1,132,075	605,600
2018-10-17	$1.79	$1.76	88.9%	25.5%	56.7%	39.4%	91.3%	8.8%	-15.7%	316.7K	-28.0M	-406.5K	0.64	15.83	70,800	45,375	1,181,875	599,700
2018-10-18	$1.71	$1.76	91.0%	26.1%	55.8%	41.4%	92.1%	8.0%	-18.0%	252.3K	-14.2M	-381.2K	0.75	16.75	72,425	54,175	1,181,875	598,075
2018-10-19	$1.61	$1.76	94.5%	27.1%	58.3%	44.8%	91.5%	8.8%	-19.0%	-288.4K	-1.0M	-357.2K	0.69	15.19	104,475	72,375	1,186,700	610,650
2018-10-22	$1.66	$1.76	94.6%	27.1%	61.4%	44.9%	94.3%	6.8%	-14.6%	729.3K	-36.0M	-364.3K	0.72	19.64	75,800	54,225	928,350	417,950
2018-10-23	$1.67	$1.76	95.3%	27.3%	61.6%	45.6%	96.0%	7.9%	-16.1%	732.9K	-37.6M	-365.3K	0.70	23.24	74,050	51,775	931,150	423,125
2018-10-24	$1.57	$1.76	97.9%	28.1%	60.8%	48.0%	98.0%	9.5%	-20.8%	639.8K	-22.6M	-341.5K	0.69	33.90	78,175	53,675	933,550	426,275
2018-10-25	$1.63	$1.76	97.0%	27.8%	64.0%	47.2%	96.9%	9.2%	-15.8%	696.5K	-31.0M	-356.6K	1.02	16.85	86,250	87,925	935,350	435,925
2018-10-26	$1.54	$1.76	108.6%	31.1%	65.0%	58.4%	107.7%	5.1%	-20.7%	604.1K	-23.9M	-355.3K	0.63	24.92	143,200	90,175	947,875	470,650
2018-10-29	$1.49	$1.76	113.5%	32.5%	65.2%	63.1%	125.8%	-0.9%	-20.0%	561.6K	-20.1M	-345.1K	1.11	46.52	109,325	121,025	945,625	480,750
2018-10-30	$1.49	$1.76	118.8%	34.1%	64.5%	68.2%	120.6%	6.8%	-26.4%	507.2K	-16.4M	-340.5K	1.45	35.48	109,450	159,100	949,375	515,000
2018-10-31	$1.54	$1.76	112.6%	32.3%	66.5%	62.2%	110.5%	9.8%	-24.8%	545.8K	-20.3M	-352.9K	0.82	23.73	135,825	110,725	949,625	555,325