CVNA Options History — August 2019

In August 2019, CVNA traded between $2.32 and $3.34. ATM implied volatility averaged 70.2%, placing in the 22.9% IV rank vs the trailing year. The 30-day expected move averaged 18.0%. IV traded below realized volatility by 14.8% (HV 20d: 85.0%). Max pain ranged from $2.40 to $3.00. Net GEX was positive for 22 of 22 trading days. Term structure was in contango for 15 of 22 days. Put/call ratio averaged 0.83.

Notable Days

2019-08-08: Highest Volume — 988,425 contracts
2019-08-08: Largest IV drop — 51.1% change
2019-08-07: Highest IV Rank — 100.0%
2019-08-02: Largest Expected Move — 28.3%

Monthly Statistics

Metric	Avg	Min	Max	Open	Close
Price	$3.01	$2.32	$3.34	$2.52	$3.24
Max Pain	$2.67	$2.40	$3.00	$2.40	$3.00
ATM IV	70.2%	51.3%	138.3%	90.6%	54.2%
Expected Move	18.0%	14.7%	28.3%	26.0%	15.0%
HV 20d	85.0%	54.3%	97.1%	55.3%	92.7%
HV 60d	66.9%	53.1%	70.5%	60.1%	69.6%
IV Rank	22.9%	1.5%	100.0%	46.9%	3.7%
IV Percentile	31.6%	2.4%	100.0%	81.3%	3.6%
Term Structure	-0.6%	-26.9%	8.4%	-23.0%	0.8%
VWIV	63.6%	52.8%	96.5%	91.2%	54.3%
Skew 25d	5.9%	4.0%	7.6%	7.6%	6.2%
Skew 10d	12.2%	9.0%	15.2%	14.5%	15.2%
Call IV 25d	60.4%	48.8%	94.5%	87.7%	51.1%
Put IV 25d	66.3%	55.0%	100.1%	95.3%	57.3%
Bid-Ask Spread %	34.09	20.22	71.02	68.53	30.02
Gamma HHI	0.30	0.14	0.98	0.23	0.17
Net GEX	10.6M	1.6M	128.6M	2.9M	2.2M
Net DEX	-307.0M	-542.0M	-123.7M	-188.1M	-266.4M
Net VEX	-1.3M	-1.4M	-1.1M	-1.1M	-1.4M
Div Yield	0.0%	0.0%	0.0%	0.0%	0.0%
P/C Ratio	0.83	0.09	2.05	0.71	1.08
Total Volume	183,277.273	17,475	988,425	32,575	22,725
Total OI	2,992,190.909	2,026,500	4,209,375	3,242,225	2,265,450

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
2019-08-01	$2.52	$2.40	90.6%	26.0%	55.3%	46.9%	91.2%	7.6%	-23.0%	2.9M	-188.1M	-1.1M	0.71	68.53	19,000	13,575	2,013,875	1,228,350
2019-08-02	$2.50	$2.40	98.8%	28.3%	54.4%	56.3%	96.5%	5.7%	-26.9%	2.8M	-182.7M	-1.1M	0.71	71.02	69,300	49,225	2,012,925	1,227,725
2019-08-05	$2.45	$2.40	116.3%	22.1%	54.3%	76.6%	76.6%	6.8%	-6.2%	2.6M	-166.3M	-1.1M	2.05	25.88	34,925	71,650	2,022,575	1,200,375
2019-08-06	$2.39	$2.40	124.1%	22.2%	54.9%	85.6%	77.8%	5.2%	-4.8%	2.3M	-148.8M	-1.1M	1.20	25.26	106,800	128,025	2,031,675	1,200,100
2019-08-07	$2.32	$2.40	138.3%	23.4%	54.6%	100.0%	81.9%	7.2%	-5.2%	1.6M	-123.7M	-1.1M	1.81	22.91	218,650	394,875	1,999,150	1,257,575
2019-08-08	$2.88	$2.40	67.7%	17.7%	94.6%	20.0%	62.5%	4.0%	4.5%	9.1M	-339.1M	-1.1M	0.86	26.58	532,725	455,700	2,148,700	1,528,325
2019-08-09	$3.12	$2.60	61.0%	17.7%	97.1%	12.5%	63.5%	4.2%	4.2%	10.2M	-467.8M	-1.3M	0.65	30.42	113,100	73,825	2,236,100	1,688,275
2019-08-12	$3.13	$2.60	72.3%	17.9%	96.5%	25.2%	65.3%	7.0%	6.3%	10.5M	-470.8M	-1.2M	0.69	36.37	158,275	109,575	2,240,000	1,720,600
2019-08-13	$3.23	$2.60	62.4%	16.5%	93.1%	14.0%	59.6%	6.9%	7.4%	11.2M	-542.0M	-1.4M	0.21	33.28	182,050	38,875	2,301,725	1,806,050
2019-08-14	$3.16	$2.60	58.6%	16.8%	93.3%	9.8%	61.0%	4.0%	6.7%	13.0M	-509.6M	-1.4M	0.35	45.06	112,575	39,625	2,366,350	1,826,725
2019-08-15	$3.16	$2.60	57.7%	16.5%	92.4%	8.7%	63.6%	6.2%	7.3%	17.0M	-496.7M	-1.4M	0.57	36.86	84,350	48,075	2,369,100	1,840,275
2019-08-16	$3.20	$2.60	55.7%	16.0%	91.5%	6.5%	55.6%	7.0%	8.4%	128.6M	-511.5M	-1.4M	0.09	29.97	424,550	38,975	2,321,375	1,864,450
2019-08-19	$3.09	$2.60	54.6%	15.6%	93.0%	5.2%	53.2%	5.5%	2.5%	1.9M	-236.6M	-1.4M	0.32	42.22	41,425	13,250	1,305,550	720,950
2019-08-20	$3.07	$2.80	53.5%	15.3%	91.0%	3.9%	53.2%	4.7%	1.6%	1.8M	-230.4M	-1.4M	0.57	52.61	13,250	7,550	1,307,350	725,900
2019-08-21	$3.34	$2.80	51.3%	14.7%	93.9%	1.5%	53.6%	6.2%	3.1%	2.3M	-287.4M	-1.4M	0.84	23.81	58,600	49,125	1,308,650	727,225
2019-08-22	$3.20	$2.80	52.7%	15.1%	95.8%	3.0%	53.5%	5.3%	-1.4%	2.2M	-260.1M	-1.4M	1.82	20.22	18,700	34,025	1,329,350	758,625
2019-08-23	$3.16	$2.80	55.3%	15.9%	96.2%	6.0%	57.1%	6.3%	-1.3%	1.8M	-245.1M	-1.4M	1.22	27.36	36,025	43,775	1,329,025	777,300
2019-08-26	$3.22	$3.00	54.9%	15.7%	96.0%	5.4%	52.8%	6.7%	0.9%	2.1M	-261.9M	-1.4M	0.54	23.37	34,525	18,800	1,351,300	800,950
2019-08-27	$3.21	$3.00	55.4%	15.9%	93.0%	5.4%	58.8%	6.5%	1.4%	2.0M	-256.8M	-1.4M	0.77	25.87	25,550	19,600	1,374,600	820,675
2019-08-28	$3.28	$3.00	54.7%	15.4%	92.9%	4.6%	53.8%	5.9%	0.2%	2.5M	-280.7M	-1.4M	0.32	26.23	45,125	14,275	1,388,400	825,575
2019-08-29	$3.28	$3.00	53.5%	15.2%	92.5%	2.9%	54.3%	5.2%	0.3%	2.9M	-282.4M	-1.4M	0.89	26.21	9,225	8,250	1,423,900	835,050
2019-08-30	$3.24	$3.00	54.2%	15.0%	92.7%	3.7%	54.3%	6.2%	0.8%	2.2M	-266.4M	-1.4M	1.08	30.02	10,925	11,800	1,425,575	839,875