CVNA Options History — July 2019

In July 2019, CVNA traded between $2.33 and $2.70. ATM implied volatility averaged 72.5%, placing in the 26.0% IV rank vs the trailing year. The 30-day expected move averaged 21.4%. IV traded above realized volatility by 17.6% (HV 20d: 54.9%). Max pain ranged from $2.00 to $2.60. Net GEX was positive for 20 of 22 trading days. Term structure was in contango for 3 of 22 days. Put/call ratio averaged 1.14.

Notable Days

2019-07-16: Highest Volume — 656,150 contracts
2019-07-10: Largest IV spike — 23.0% change
2019-07-30: Highest IV Rank — 43.6%
2019-07-30: Largest Expected Move — 25.2%

Monthly Statistics

Metric	Avg	Min	Max	Open	Close
Price	$2.56	$2.33	$2.70	$2.61	$2.56
Max Pain	$2.32	$2.00	$2.60	$2.60	$2.40
ATM IV	72.5%	51.0%	87.7%	55.1%	83.3%
Expected Move	21.4%	14.6%	25.2%	15.8%	23.9%
HV 20d	54.9%	51.8%	58.4%	58.4%	55.2%
HV 60d	57.2%	54.7%	60.2%	56.1%	60.2%
IV Rank	26.0%	1.1%	43.6%	5.9%	38.5%
IV Percentile	47.6%	2.8%	76.6%	5.6%	70.2%
Term Structure	-9.0%	-18.9%	13.6%	12.9%	-18.9%
VWIV	75.4%	51.8%	87.2%	56.0%	85.2%
Skew 25d	6.8%	2.9%	10.3%	5.1%	5.5%
Skew 10d	13.9%	6.7%	22.4%	11.1%	11.9%
Call IV 25d	71.7%	49.9%	84.1%	53.1%	82.5%
Put IV 25d	78.5%	53.2%	89.9%	58.2%	88.0%
Bid-Ask Spread %	49.95	42.53	59.90	43.31	59.90
Gamma HHI	0.22	0.17	0.43	0.17	0.23
Net GEX	1.9M	-3.2M	3.6M	1.4M	3.1M
Net DEX	-177.6M	-239.1M	-71.1M	-177.1M	-198.4M
Net VEX	-1.2M	-1.3M	-1.1M	-1.1M	-1.2M
Div Yield	0.0%	0.0%	0.0%	0.0%	0.0%
P/C Ratio	1.14	0.25	3.28	0.52	3.28
Total Volume	149,043.182	21,000	656,150	25,700	87,425
Total OI	2,954,306.818	2,462,450	3,598,575	2,462,450	3,288,950

Daily Data (22 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
2019-07-01	$2.61	$2.60	55.1%	15.8%	58.4%	5.9%	56.0%	5.1%	12.9%	1.4M	-177.1M	-1.1M	0.52	43.31	16,950	8,750	1,379,350	1,083,100
2019-07-02	$2.59	$2.60	51.9%	14.9%	56.3%	2.2%	52.3%	2.9%	13.3%	1.6M	-175.0M	-1.1M	1.76	49.30	8,850	15,550	1,405,625	1,082,500
2019-07-03	$2.56	$2.60	51.0%	14.6%	55.6%	1.1%	51.8%	4.5%	13.6%	1.5M	-166.2M	-1.1M	1.15	50.96	9,750	11,250	1,408,250	1,084,375
2019-07-05	$2.63	$2.00	52.5%	18.9%	56.3%	2.8%	67.7%	5.7%	-4.3%	1.8M	-186.5M	-1.1M	0.73	53.14	17,400	12,700	1,408,625	1,085,675
2019-07-08	$2.66	$2.00	57.4%	20.4%	53.3%	8.5%	71.1%	5.4%	-9.3%	2.0M	-197.0M	-1.1M	0.27	50.29	113,825	31,150	1,417,200	1,089,050
2019-07-09	$2.65	$2.00	55.3%	20.3%	52.2%	6.1%	71.0%	6.1%	-9.1%	2.4M	-196.5M	-1.1M	0.52	50.13	45,025	23,600	1,477,900	1,103,325
2019-07-10	$2.70	$2.00	68.0%	19.5%	52.5%	20.7%	69.7%	5.4%	-8.1%	2.9M	-215.6M	-1.1M	0.53	51.82	40,800	21,700	1,490,450	1,112,100
2019-07-11	$2.57	$2.00	72.3%	20.7%	56.0%	25.8%	72.4%	6.7%	-10.1%	1.9M	-174.1M	-1.1M	1.14	50.59	187,450	214,150	1,497,975	1,116,250
2019-07-12	$2.70	$2.20	68.4%	19.6%	58.4%	21.3%	68.6%	5.8%	-6.3%	2.8M	-221.6M	-1.2M	0.81	48.21	43,250	34,950	1,569,350	1,268,500
2019-07-15	$2.64	$2.20	74.9%	21.5%	57.8%	28.7%	77.0%	7.8%	-11.6%	2.2M	-195.4M	-1.1M	1.63	51.43	42,375	69,200	1,561,600	1,274,125
2019-07-16	$2.48	$2.40	80.7%	23.1%	58.3%	35.4%	78.1%	9.0%	-13.8%	28.6K	-133.0M	-1.1M	0.49	52.42	440,200	215,950	1,575,525	1,326,775
2019-07-17	$2.44	$2.40	82.2%	23.6%	56.8%	37.2%	80.5%	10.3%	-13.8%	-750.6K	-124.8M	-1.2M	0.33	44.58	146,800	47,975	1,863,200	1,473,675
2019-07-18	$2.38	$2.40	81.1%	23.3%	56.3%	36.0%	78.6%	9.3%	-14.4%	-3.2M	-97.2M	-1.2M	0.25	42.53	307,675	77,350	1,914,975	1,484,825
2019-07-19	$2.34	$2.40	79.8%	22.9%	53.3%	34.5%	80.2%	7.8%	-14.1%	1.4M	-71.1M	-1.2M	0.54	45.23	96,175	52,075	2,111,175	1,487,400
2019-07-22	$2.33	$2.40	80.8%	23.2%	53.3%	35.5%	87.2%	9.2%	-12.2%	1.5M	-117.5M	-1.1M	2.94	47.57	30,675	90,225	1,931,725	1,211,575
2019-07-23	$2.50	$2.40	83.9%	24.1%	53.0%	39.2%	85.0%	7.1%	-14.2%	2.6M	-177.8M	-1.2M	1.19	45.55	82,350	97,675	1,936,525	1,195,425
2019-07-24	$2.61	$2.40	81.8%	23.5%	54.1%	36.7%	85.5%	7.2%	-13.0%	3.2M	-222.1M	-1.3M	1.80	47.89	29,825	53,700	1,994,675	1,245,775
2019-07-25	$2.63	$2.40	82.1%	23.5%	53.5%	37.0%	83.4%	8.8%	-13.2%	3.2M	-223.0M	-1.3M	1.91	53.01	18,475	35,350	1,991,850	1,261,150
2019-07-26	$2.66	$2.40	81.3%	23.3%	52.0%	36.1%	83.1%	7.1%	-15.6%	3.6M	-239.1M	-1.2M	1.84	52.90	20,175	37,150	1,992,100	1,264,800
2019-07-29	$2.63	$2.40	84.4%	24.2%	51.8%	39.7%	86.9%	7.5%	-16.6%	3.4M	-226.6M	-1.2M	0.27	52.20	57,325	15,200	1,992,525	1,273,025
2019-07-30	$2.49	$2.40	87.7%	25.2%	54.2%	43.6%	86.7%	5.8%	-18.9%	2.4M	-172.2M	-1.2M	1.22	55.91	122,075	148,450	1,990,525	1,271,250
2019-07-31	$2.56	$2.40	83.3%	23.9%	55.2%	38.5%	85.2%	5.5%	-18.9%	3.1M	-198.4M	-1.2M	3.28	59.90	20,425	67,000	2,016,750	1,272,200