CVNA Options History — January 2020

In January 2020, CVNA traded between $3.15 and $3.85. ATM implied volatility averaged 51.9%, placing in the 9.4% IV rank vs the trailing year. The 30-day expected move averaged 13.9%. IV traded above realized volatility by 4.3% (HV 20d: 47.6%). Max pain ranged from $3.20 to $3.40. Net GEX was positive for 17 of 21 trading days. Term structure was in contango for 13 of 21 days. Put/call ratio averaged 1.74.

Notable Days

  • 2020-01-14: Highest Volume — 272,325 contracts
  • 2020-01-27: Largest IV spike — 15.4% change
  • 2020-01-31: Highest IV Rank — 26.5%
  • 2020-01-31: Largest Expected Move — 15.4%

Monthly Statistics

MetricAvgMinMaxOpenClose
Price$3.46$3.15$3.85$3.85$3.15
Max Pain$3.22$3.20$3.40$3.20$3.20
ATM IV51.9%45.6%68.1%45.6%68.1%
Expected Move13.9%13.1%15.4%13.1%15.4%
HV 20d47.6%42.7%52.2%48.8%42.7%
HV 60d48.1%46.3%50.3%46.8%48.4%
IV Rank9.4%2.8%26.5%2.8%26.5%
IV Percentile24.7%6.7%71.0%6.7%71.0%
Term Structure2.5%-2.2%15.8%1.2%-1.8%
VWIV48.7%44.0%55.3%44.0%52.7%
Skew 25d5.5%3.6%10.8%3.6%10.8%
Skew 10d11.9%6.6%44.1%7.9%44.1%
Call IV 25d49.3%43.8%61.7%43.8%61.7%
Put IV 25d54.8%47.4%72.6%47.4%72.6%
Bid-Ask Spread %26.2610.7744.0016.9021.42
Gamma HHI0.100.080.190.100.10
Net GEX1.3M-798.0K3.7M3.2M725.2K
Net DEX-244.3M-384.1M-155.7M-384.1M-155.7M
Net VEX-1.4M-1.4M-1.3M-1.4M-1.3M
Div Yield0.0%0.0%0.0%0.0%0.0%
P/C Ratio1.740.3713.620.530.94
Total Volume103,982.14320,325272,32579,050122,500
Total OI2,424,676.192,063,8502,829,3002,481,6752,260,350

Daily Data (21 trading days)

DatePriceMax PainATM IVExp MoveHV 20dIV RankVWIVSkew 25dTerm StrGEXDEXVEXP/CSpread %Call VolPut VolCall OIPut OI
2020-01-02$3.85$3.2045.6%13.1%48.8%2.8%44.0%3.6%1.2%3.2M-384.1M-1.4M0.5316.9051,80027,2501,547,700933,975
2020-01-03$3.71$3.2046.1%13.2%50.5%3.3%45.4%3.6%0.8%1.6M-332.8M-1.4M0.7116.2047,35033,7751,565,750953,975
2020-01-06$3.67$3.2046.5%13.3%46.5%3.7%46.9%3.6%0.2%3.7M-330.2M-1.4M1.3532.8537,60050,6501,573,900914,575
2020-01-07$3.65$3.2045.8%13.6%46.2%3.0%47.8%3.7%2.0%3.0M-317.9M-1.4M2.0231.4820,25040,9001,592,825949,400
2020-01-08$3.58$3.2046.0%13.1%45.9%3.2%46.4%4.4%0.7%2.2M-291.2M-1.4M1.9736.3751,475101,6251,600,175976,775
2020-01-09$3.48$3.2046.8%13.4%45.5%4.1%46.4%4.2%0.2%-255.6K-239.3M-1.4M1.9040.5043,55082,9501,602,0501,039,500
2020-01-10$3.49$3.2047.4%13.4%43.4%4.7%45.9%4.4%2.0%487.9K-245.4M-1.4M1.4644.0028,27541,3751,622,9001,044,575
2020-01-13$3.71$3.2046.3%13.3%49.1%3.6%47.0%4.1%0.2%3.3M-342.8M-1.4M1.1741.0382,90096,9001,590,8501,014,325
2020-01-14$3.45$3.2052.0%14.8%52.2%9.6%52.6%5.1%-0.4%716.9K-239.6M-1.4M1.0441.19133,250139,0751,603,8251,028,175
2020-01-15$3.45$3.2051.2%14.5%49.3%8.7%55.3%4.4%-0.4%351.1K-235.0M-1.4M3.7242.0135,825133,3251,649,2751,087,975
2020-01-16$3.47$3.2049.7%14.0%49.4%7.1%47.7%4.6%-1.0%-220.4K-238.0M-1.4M0.3734.3527,82510,4251,658,6751,166,850
2020-01-17$3.36$3.2047.3%13.1%50.1%4.6%46.1%5.8%-2.2%-798.0K-198.8M-1.3M0.9033.7648,50043,5501,664,6001,164,700
2020-01-21$3.36$3.4049.3%14.1%48.0%6.8%50.5%4.9%11.5%905.7K-196.9M-1.3M0.6214.5244,70027,8751,329,975733,875
2020-01-22$3.35$3.3249.2%14.1%48.0%6.6%49.3%5.0%11.1%1.1M-196.4M-1.3M0.6610.7739,37525,9751,349,000740,400
2020-01-23$3.33$3.2050.7%13.8%48.0%8.2%49.0%4.2%15.8%1.0M-195.1M-1.3M13.6214.3312,100164,7501,368,750747,500
2020-01-24$3.33$3.2052.4%13.8%47.8%10.0%48.2%5.2%12.6%-518.7K-193.2M-1.3M1.3213.1526,00034,3501,374,825773,525
2020-01-27$3.40$3.2860.5%14.6%47.6%18.4%52.2%8.2%-0.3%2.0M-220.9M-1.3M0.4211.4955,67523,6251,355,300751,150
2020-01-28$3.40$3.2460.8%14.3%47.7%18.7%48.7%7.9%-0.1%2.1M-224.6M-1.4M0.6616.4012,2258,1001,401,925766,475
2020-01-29$3.28$3.2063.3%14.4%45.8%21.4%49.4%9.2%-0.9%1.3M-190.1M-1.3M0.4917.0076,75037,7251,407,725769,725
2020-01-30$3.18$3.2465.1%14.8%46.5%23.2%51.3%8.9%0.7%806.1K-162.7M-1.3M0.6121.6938,10023,4001,455,875784,500
2020-01-31$3.15$3.2068.1%15.4%42.7%26.5%52.7%10.8%-1.8%725.2K-155.7M-1.3M0.9421.4263,22559,2751,472,475787,875