CVNA Options History — January 2019

In January 2019, CVNA traded between $1.22 and $1.58. ATM implied volatility averaged 74.3%, placing in the 29.8% IV rank vs the trailing year. The 30-day expected move averaged 21.2%. IV traded above realized volatility by 1.8% (HV 20d: 72.5%). Max pain ranged from $1.36 to $1.88. Net GEX was positive for 21 of 21 trading days. Term structure was in contango for 19 of 21 days. Put/call ratio averaged 1.72.

Notable Days

2019-01-04: Highest Volume — 108,925 contracts
2019-01-22: Largest IV spike — 10.5% change
2019-01-02: Highest IV Rank — 49.4%
2019-01-02: Largest Expected Move — 26.3%

Monthly Statistics

Metric	Avg	Min	Max	Open	Close
Price	$1.43	$1.22	$1.58	$1.28	$1.49
Max Pain	$1.82	$1.36	$1.88	$1.36	$1.48
ATM IV	74.3%	65.9%	91.7%	91.7%	67.4%
Expected Move	21.2%	18.9%	26.3%	26.3%	21.1%
HV 20d	72.5%	57.8%	85.1%	84.2%	59.7%
HV 60d	82.2%	76.1%	84.6%	83.4%	76.1%
IV Rank	29.8%	20.3%	49.4%	49.4%	22.0%
IV Percentile	51.4%	35.3%	83.3%	83.3%	38.1%
Term Structure	7.2%	-2.1%	12.6%	-1.1%	-2.1%
VWIV	72.5%	59.3%	94.8%	94.8%	72.4%
Skew 25d	12.5%	9.7%	16.7%	13.8%	11.6%
Skew 10d	26.7%	21.1%	39.2%	34.1%	25.9%
Call IV 25d	67.8%	60.6%	86.3%	86.3%	67.6%
Put IV 25d	80.3%	71.4%	100.1%	100.1%	79.2%
Bid-Ask Spread %	49.00	13.21	64.12	64.12	13.21
Gamma HHI	0.09	0.07	0.13	0.09	0.08
Net GEX	420.0K	15.7K	614.5K	132.6K	533.4K
Net DEX	-33.3M	-50.9M	-2.2M	-11.7M	-36.4M
Net VEX	-559.6K	-607.0K	-480.3K	-497.4K	-571.8K
Div Yield	0.0%	0.0%	0.0%	0.0%	0.0%
P/C Ratio	1.72	0.16	5.72	1.40	3.16
Total Volume	48,960.714	11,600	108,925	26,800	72,050
Total OI	1,918,222.619	1,537,525	2,249,375	1,916,800	1,646,850

Daily Data (21 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
2019-01-02	$1.28	$1.36	91.7%	26.3%	84.2%	49.4%	94.8%	13.8%	-1.1%	132.6K	-11.7M	-497.4K	1.40	64.12	11,150	15,650	1,192,150	724,650
2019-01-03	$1.22	$1.88	90.9%	25.0%	76.3%	48.5%	84.4%	16.7%	5.7%	15.7K	-2.2M	-480.3K	3.33	48.16	15,775	52,475	1,196,125	763,800
2019-01-04	$1.24	$1.88	84.2%	23.4%	76.8%	41.0%	77.9%	12.9%	8.4%	36.4K	-3.8M	-482.7K	5.33	51.26	17,200	91,725	1,198,725	762,400
2019-01-07	$1.33	$1.88	87.5%	23.1%	82.1%	44.7%	78.1%	15.2%	7.8%	214.7K	-15.3M	-516.2K	0.16	43.04	22,350	3,600	1,201,050	789,925
2019-01-08	$1.42	$1.88	78.5%	21.2%	85.1%	34.5%	73.6%	12.3%	10.4%	478.3K	-37.9M	-577.8K	0.22	41.61	33,175	7,300	1,322,475	790,800
2019-01-09	$1.40	$1.88	74.4%	21.3%	84.6%	29.9%	72.4%	10.9%	9.6%	479.4K	-37.7M	-583.3K	1.21	46.67	13,325	16,125	1,329,700	792,075
2019-01-10	$1.38	$1.88	74.3%	21.3%	82.9%	29.7%	73.0%	12.8%	9.0%	436.2K	-30.1M	-561.3K	1.12	48.37	17,200	19,300	1,333,950	797,450
2019-01-11	$1.46	$1.88	69.9%	20.0%	82.9%	24.8%	72.7%	11.7%	12.0%	596.6K	-46.8M	-590.7K	1.14	49.08	23,550	26,850	1,338,525	809,850
2019-01-14	$1.41	$1.88	75.1%	21.5%	79.8%	30.7%	77.3%	13.2%	12.0%	528.4K	-36.5M	-565.2K	2.79	46.80	15,125	42,250	1,348,275	814,075
2019-01-15	$1.42	$1.88	71.5%	20.5%	77.2%	26.6%	70.6%	12.7%	11.4%	325.6K	-34.5M	-564.7K	1.29	49.56	33,950	43,700	1,357,525	867,625
2019-01-16	$1.42	$1.88	72.6%	20.8%	77.0%	27.9%	69.9%	12.1%	9.1%	454.5K	-36.6M	-571.4K	0.40	43.43	44,200	17,725	1,374,100	858,575
2019-01-17	$1.42	$1.88	69.2%	19.8%	73.0%	24.0%	67.3%	12.7%	10.2%	512.6K	-38.0M	-569.0K	0.36	56.01	48,700	17,700	1,387,875	861,100
2019-01-18	$1.47	$1.88	66.0%	18.9%	68.0%	20.5%	66.3%	12.3%	12.6%	420.0K	-50.9M	-574.1K	0.63	51.34	43,100	27,200	1,392,025	857,350
2019-01-22	$1.42	$1.88	73.0%	20.9%	68.1%	28.3%	74.8%	13.2%	8.7%	376.7K	-31.1M	-550.0K	1.43	54.42	4,775	6,825	980,050	557,475
2019-01-23	$1.48	$1.88	69.0%	19.8%	64.3%	23.8%	69.0%	13.7%	5.8%	457.1K	-35.8M	-568.1K	0.60	48.70	30,425	18,250	981,500	562,475
2019-01-24	$1.53	$1.80	67.6%	19.4%	63.1%	22.3%	70.2%	9.7%	5.0%	549.9K	-44.0M	-585.6K	1.76	56.06	19,675	34,675	1,005,375	575,925
2019-01-25	$1.58	$1.80	65.9%	18.9%	58.9%	20.3%	68.2%	10.8%	4.8%	614.5K	-49.7M	-604.4K	1.05	51.22	20,500	21,625	1,014,075	595,150
2019-01-28	$1.58	$1.80	70.5%	20.2%	57.8%	25.4%	68.6%	12.1%	3.3%	605.5K	-48.6M	-607.0K	5.72	53.38	3,250	18,600	1,020,100	605,650
2019-01-29	$1.49	$1.84	72.2%	20.7%	60.7%	27.4%	61.6%	12.1%	3.5%	522.5K	-36.1M	-569.9K	1.72	54.76	10,175	17,550	1,021,550	612,350
2019-01-30	$1.50	$1.84	69.8%	20.0%	60.1%	24.7%	59.3%	9.8%	5.0%	529.0K	-36.4M	-561.5K	1.30	57.75	12,800	16,600	1,024,600	617,375
2019-01-31	$1.49	$1.48	67.4%	21.1%	59.7%	22.0%	72.4%	11.6%	-2.1%	533.4K	-36.4M	-571.8K	3.16	13.21	17,300	54,750	1,027,950	618,900