CVNA Options History — March 2019

In March 2019, CVNA traded between $1.68 and $2.33. ATM implied volatility averaged 66.8%, placing in the 21.3% IV rank vs the trailing year. The 30-day expected move averaged 19.8%. IV traded below realized volatility by 6.2% (HV 20d: 73.0%). Max pain ranged from $1.56 to $1.84. Net GEX was positive for 21 of 21 trading days. Term structure was in contango for 20 of 21 days. Put/call ratio averaged 1.49.

Notable Days

  • 2019-03-06: Highest Volume — 425,300 contracts
  • 2019-03-12: Largest IV drop — 18.5% change
  • 2019-03-11: Highest IV Rank — 38.7%
  • 2019-03-07: Largest Expected Move — 21.1%

Monthly Statistics

MetricAvgMinMaxOpenClose
Price$2.16$1.68$2.33$1.75$2.33
Max Pain$1.63$1.56$1.84$1.56$1.84
ATM IV66.8%58.9%82.2%65.1%64.0%
Expected Move19.8%18.5%21.1%18.7%19.8%
HV 20d73.0%62.8%85.0%71.6%62.8%
HV 60d69.9%64.0%75.6%73.2%64.0%
IV Rank21.3%12.4%38.7%19.4%18.1%
IV Percentile36.9%20.6%68.7%34.5%30.6%
Term Structure3.7%-0.1%6.5%-0.1%4.6%
VWIV68.9%36.9%77.1%66.3%36.9%
Skew 25d11.4%9.3%13.5%9.8%9.8%
Skew 10d27.0%18.2%37.0%22.7%22.8%
Call IV 25d60.6%56.7%65.1%61.5%61.9%
Put IV 25d72.1%68.1%77.6%71.3%71.7%
Bid-Ask Spread %43.4831.5650.5936.2248.21
Gamma HHI0.100.080.160.090.09
Net GEX1.4M1.1M1.8M1.4M1.4M
Net DEX-172.6M-231.6M-85.4M-104.2M-168.0M
Net VEX-1.0M-1.1M-844.4K-883.0K-1.1M
Div Yield0.0%0.0%0.0%0.0%0.0%
P/C Ratio1.490.415.492.921.00
Total Volume169,410.71432,025425,300365,900195,800
Total OI2,850,019.0482,565,5253,267,9002,646,8252,861,575

Daily Data (21 trading days)

DatePriceMax PainATM IVExp MoveHV 20dIV RankVWIVSkew 25dTerm StrGEXDEXVEXP/CSpread %Call VolPut VolCall OIPut OI
2019-03-01$1.75$1.5665.1%18.7%71.6%19.4%66.3%9.8%-0.1%1.4M-104.2M-883.0K2.9236.2293,450272,4501,430,2751,216,550
2019-03-04$1.68$1.6070.9%20.3%71.0%26.0%73.8%10.7%2.9%1.2M-85.4M-844.4K0.8331.5629,90024,7751,446,4751,241,675
2019-03-05$1.93$1.6069.6%20.0%85.0%24.5%72.3%9.3%1.6%1.6M-150.3M-928.2K0.5344.12107,65056,6751,457,9501,253,450
2019-03-06$2.02$1.6072.3%20.7%82.7%27.5%73.5%12.8%3.0%1.5M-175.9M-956.4K1.8050.46151,850273,4501,482,4251,288,550
2019-03-07$1.99$1.6073.6%21.1%81.9%28.9%74.0%13.3%3.0%1.6M-163.8M-996.8K2.3645.7695,875226,4501,577,0751,420,875
2019-03-08$1.99$1.6072.4%20.7%81.3%27.6%77.1%12.5%5.5%1.5M-161.9M-1.0M5.4950.5937,275204,5001,609,0751,402,800
2019-03-11$2.09$1.6082.2%20.3%80.4%38.7%73.8%11.7%2.7%1.8M-193.3M-1.0M1.3237.57112,850148,8251,614,7251,522,700
2019-03-12$2.12$1.6067.0%19.5%79.3%21.6%75.0%12.0%1.1%1.7M-196.7M-1.0M1.5138.8647,25071,3001,624,8251,516,550
2019-03-13$2.25$1.6069.3%20.4%76.2%24.1%69.4%13.5%1.8%1.8M-231.6M-1.0M1.1037.07139,900153,8501,651,6251,519,150
2019-03-14$2.23$1.6066.3%20.1%72.3%20.8%66.1%12.4%4.0%1.5M-218.9M-1.1M1.1439.8868,45077,9001,675,1001,592,800
2019-03-15$2.24$1.6062.8%19.4%72.5%16.8%67.4%12.0%4.9%1.2M-227.6M-1.0M1.4344.6954,92578,4751,670,4501,589,900
2019-03-18$2.27$1.6062.4%19.1%72.6%16.3%66.1%11.7%4.4%1.2M-169.0M-1.0M1.0044.5244,05043,9001,367,3751,198,150
2019-03-19$2.32$1.6061.1%18.5%72.3%14.8%65.2%11.1%3.8%1.3M-180.9M-1.1M1.0046.5128,82528,7751,396,3501,224,225
2019-03-20$2.32$1.6062.5%19.1%70.7%16.5%69.5%10.1%4.1%1.3M-180.2M-1.1M0.4150.1643,37517,9251,403,5751,239,750
2019-03-21$2.32$1.6058.9%18.6%67.0%12.4%70.3%11.3%6.5%1.3M-180.1M-1.1M0.8447.3626,42522,1501,395,9751,245,175
2019-03-22$2.22$1.6065.1%19.9%67.9%19.4%76.5%11.8%4.4%1.1M-154.6M-1.1M1.0244.2132,47533,1501,399,0501,255,150
2019-03-25$2.26$1.6065.6%20.3%67.9%19.9%76.8%11.8%4.3%1.2M-162.8M-1.0M0.8044.1617,80014,2251,406,1001,268,625
2019-03-26$2.31$1.6063.8%19.7%67.1%18.0%65.9%10.9%4.6%1.3M-178.5M-1.1M1.0043.2391,05090,7001,419,0001,276,950
2019-03-27$2.33$1.8463.4%19.6%65.5%17.5%70.0%11.8%4.8%1.4M-170.4M-1.1M2.1042.7745,12594,8251,492,1501,349,475
2019-03-28$2.32$1.8463.6%19.6%64.5%17.8%60.5%10.2%5.3%1.4M-169.8M-1.1M1.7145.0958,750100,2751,490,5251,356,225
2019-03-29$2.33$1.8464.0%19.8%62.8%18.1%36.9%9.8%4.6%1.4M-168.0M-1.1M1.0048.2197,97597,8251,490,5251,371,050