CVNA Options History — October 2019

In October 2019, CVNA traded between $2.56 and $3.39. ATM implied volatility averaged 66.4%, placing in the 17.9% IV rank vs the trailing year. The 30-day expected move averaged 20.2%. IV traded above realized volatility by 19.9% (HV 20d: 46.5%). Max pain ranged from $2.60 to $3.00. Net GEX was positive for 23 of 23 trading days. Term structure was in contango for 5 of 23 days. Put/call ratio averaged 1.10.

Notable Days

2019-10-29: Highest Volume — 248,425 contracts
2019-10-07: Largest IV spike — 10.7% change
2019-10-08: Highest IV Rank — 22.7%
2019-10-30: Largest Expected Move — 23.4%

Monthly Statistics

Metric	Avg	Min	Max	Open	Close
Price	$2.97	$2.56	$3.39	$2.67	$3.25
Max Pain	$2.73	$2.60	$3.00	$2.80	$3.00
ATM IV	66.4%	56.5%	70.5%	56.5%	65.2%
Expected Move	20.2%	16.5%	23.4%	16.5%	22.8%
HV 20d	46.5%	42.1%	52.0%	46.6%	42.1%
HV 60d	66.9%	65.7%	69.1%	68.1%	65.8%
IV Rank	17.9%	6.6%	22.7%	6.6%	16.6%
IV Percentile	41.4%	14.7%	54.4%	14.7%	39.7%
Term Structure	-0.1%	-5.5%	13.5%	11.8%	-2.3%
VWIV	71.5%	55.9%	83.2%	55.9%	78.7%
Skew 25d	8.2%	4.3%	10.2%	4.3%	8.4%
Skew 10d	16.6%	7.1%	23.1%	13.8%	16.5%
Call IV 25d	62.0%	53.4%	68.0%	54.1%	61.1%
Put IV 25d	70.1%	58.4%	76.2%	58.4%	69.5%
Bid-Ask Spread %	39.81	21.09	63.06	55.32	27.76
Gamma HHI	0.15	0.10	0.24	0.11	0.16
Net GEX	2.8M	1.3M	5.0M	1.8M	2.0M
Net DEX	-216.1M	-313.2M	-126.2M	-149.5M	-255.1M
Net VEX	-1.3M	-1.4M	-1.2M	-1.3M	-1.4M
Div Yield	0.0%	0.0%	0.0%	0.0%	0.0%
P/C Ratio	1.10	0.22	2.99	1.29	0.28
Total Volume	76,139.13	23,150	248,425	31,475	46,800
Total OI	2,154,084.783	2,041,475	2,401,425	2,083,375	2,401,425

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
2019-10-01	$2.67	$2.80	56.5%	16.5%	46.6%	6.6%	55.9%	4.3%	11.8%	1.8M	-149.5M	-1.3M	1.29	55.32	13,725	17,750	1,438,675	644,700
2019-10-02	$2.56	$2.80	59.1%	17.2%	45.7%	9.7%	60.3%	6.8%	13.0%	1.3M	-126.2M	-1.2M	1.95	63.06	14,500	28,300	1,443,400	644,900
2019-10-03	$2.67	$2.60	60.1%	19.7%	47.4%	10.8%	69.1%	8.4%	13.2%	1.7M	-151.5M	-1.3M	0.79	48.64	22,625	17,825	1,443,925	654,975
2019-10-04	$2.72	$2.60	61.8%	19.2%	48.7%	12.7%	66.4%	6.9%	13.5%	2.5M	-165.3M	-1.3M	0.41	47.61	25,925	10,600	1,458,325	652,200
2019-10-07	$2.65	$2.60	68.4%	20.2%	49.1%	20.3%	70.8%	9.8%	-1.3%	2.0M	-147.5M	-1.2M	1.64	44.07	14,575	23,975	1,424,875	616,600
2019-10-08	$2.68	$2.60	70.5%	20.1%	43.7%	22.7%	68.2%	7.4%	-1.7%	2.1M	-151.2M	-1.2M	1.85	49.23	8,125	15,025	1,428,825	618,400
2019-10-09	$2.77	$2.60	70.0%	19.6%	45.4%	22.0%	69.3%	7.5%	0.3%	2.7M	-173.5M	-1.3M	1.30	50.91	43,775	57,000	1,432,125	629,250
2019-10-10	$2.77	$2.60	69.5%	19.5%	43.1%	21.5%	68.9%	7.8%	-2.3%	2.7M	-172.8M	-1.3M	0.69	50.20	18,275	12,650	1,456,325	667,175
2019-10-11	$2.91	$2.60	69.3%	19.0%	47.6%	21.3%	67.3%	8.9%	-3.6%	3.5M	-213.9M	-1.3M	0.35	53.52	149,675	52,825	1,452,700	664,925
2019-10-14	$2.98	$2.60	67.2%	19.0%	48.0%	18.8%	65.8%	8.4%	-1.7%	3.5M	-224.6M	-1.3M	0.78	50.31	18,075	14,025	1,454,550	691,625
2019-10-15	$3.11	$2.60	63.8%	18.1%	50.9%	15.0%	67.7%	7.8%	-0.7%	4.1M	-267.6M	-1.3M	0.92	40.67	66,750	61,525	1,460,675	699,600
2019-10-16	$3.07	$2.60	67.4%	19.3%	47.5%	19.0%	70.0%	10.2%	-3.5%	4.2M	-249.6M	-1.4M	2.61	44.71	11,725	30,575	1,483,575	726,425
2019-10-17	$3.08	$2.80	65.9%	19.1%	47.5%	17.4%	69.3%	8.9%	-4.9%	5.0M	-252.7M	-1.4M	0.52	44.89	47,375	24,675	1,488,850	745,425
2019-10-18	$2.95	$2.80	67.3%	19.5%	49.3%	19.0%	69.5%	9.6%	-2.0%	1.9M	-206.0M	-1.3M	1.40	53.29	49,275	69,225	1,506,950	763,225
2019-10-21	$3.10	$2.80	67.1%	20.2%	52.0%	18.7%	70.3%	8.4%	-3.8%	2.1M	-231.5M	-1.4M	0.91	21.09	29,875	27,175	1,365,575	719,675
2019-10-22	$3.05	$2.80	69.1%	20.7%	47.7%	21.0%	73.5%	8.4%	-3.1%	2.1M	-223.0M	-1.4M	0.74	23.33	58,675	43,600	1,379,475	732,525
2019-10-23	$3.08	$2.80	68.7%	21.1%	47.7%	20.6%	80.7%	8.8%	-3.8%	2.7M	-227.9M	-1.4M	2.99	23.07	8,500	25,425	1,409,200	736,350
2019-10-24	$3.13	$2.80	70.0%	21.6%	45.2%	22.0%	77.5%	9.4%	-4.8%	3.5M	-246.0M	-1.4M	0.37	23.18	53,000	19,825	1,412,250	745,250
2019-10-25	$3.17	$2.80	69.3%	22.4%	42.8%	21.2%	78.6%	9.5%	-5.5%	5.0M	-255.8M	-1.4M	0.22	24.67	88,550	19,100	1,414,725	748,950
2019-10-28	$3.31	$2.80	67.3%	22.7%	44.3%	18.9%	80.9%	7.3%	-2.9%	2.9M	-289.7M	-1.3M	0.40	25.11	49,875	19,975	1,414,125	727,875
2019-10-29	$3.39	$2.80	65.9%	22.6%	44.6%	17.3%	83.0%	7.4%	-2.1%	3.1M	-313.2M	-1.4M	2.29	24.92	75,450	172,975	1,440,800	740,225
2019-10-30	$3.31	$3.00	66.7%	23.4%	42.3%	18.3%	83.2%	7.6%	-3.3%	2.0M	-276.5M	-1.4M	0.64	26.06	44,025	28,000	1,460,725	901,600
2019-10-31	$3.25	$3.00	65.2%	22.8%	42.1%	16.6%	78.7%	8.4%	-2.3%	2.0M	-255.1M	-1.4M	0.28	27.76	36,700	10,100	1,479,125	922,300