CVNA Options History — June 2020

In June 2020, CVNA traded between $3.69 and $5.12. ATM implied volatility averaged 81.5%, placing in the 22.2% IV rank vs the trailing year. The 30-day expected move averaged 23.6%. IV traded below realized volatility by 15.1% (HV 20d: 96.7%). Max pain ranged from $3.80 to $4.60. Net GEX was positive for 22 of 22 trading days. Term structure was in contango for 14 of 22 days. Put/call ratio averaged 0.74.

Notable Days

2020-06-02: Highest Volume — 670,200 contracts
2020-06-11: Largest IV spike — 14.3% change
2020-06-11: Highest IV Rank — 25.7%
2020-06-11: Largest Expected Move — 26.0%

Monthly Statistics

Metric	Avg	Min	Max	Open	Close
Price	$4.60	$3.69	$5.12	$3.69	$4.80
Max Pain	$4.39	$3.80	$4.60	$3.80	$4.60
ATM IV	81.5%	74.7%	87.6%	84.2%	76.5%
Expected Move	23.6%	21.4%	26.0%	25.3%	21.4%
HV 20d	96.7%	76.8%	103.2%	76.8%	85.3%
HV 60d	147.2%	108.4%	185.6%	184.9%	108.4%
IV Rank	22.2%	18.3%	25.7%	23.8%	19.4%
IV Percentile	67.7%	58.7%	76.6%	74.2%	58.7%
Term Structure	0.9%	-2.3%	8.4%	-0.0%	8.4%
VWIV	82.8%	71.0%	92.9%	88.0%	78.0%
Skew 25d	11.7%	7.8%	22.6%	17.5%	9.0%
Skew 10d	24.8%	17.1%	34.4%	26.8%	28.7%
Call IV 25d	76.1%	69.6%	82.5%	75.6%	73.3%
Put IV 25d	87.8%	81.3%	95.6%	93.2%	82.3%
Bid-Ask Spread %	36.42	21.84	44.63	38.33	38.27
Gamma HHI	0.10	0.05	0.47	0.06	0.06
Net GEX	3.1M	757.7K	9.9M	757.7K	3.9M
Net DEX	-525.6M	-701.3M	-283.6M	-283.6M	-570.7M
Net VEX	-2.1M	-2.1M	-1.9M	-1.9M	-2.1M
Div Yield	0.0%	0.0%	0.0%	0.0%	0.0%
P/C Ratio	0.74	0.33	1.44	1.43	0.85
Total Volume	238,452.273	33,100	670,200	33,100	41,175
Total OI	3,374,473.864	2,936,025	3,705,650	2,936,025	3,252,550

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
2020-06-01	$3.69	$3.80	84.2%	25.3%	76.8%	23.8%	88.0%	17.5%	-0.0%	757.7K	-283.6M	-1.9M	1.43	38.33	13,600	19,500	1,639,000	1,297,025
2020-06-02	$4.33	$3.80	84.0%	25.5%	92.8%	23.7%	89.7%	13.2%	-1.0%	1.6M	-450.3M	-2.0M	0.95	32.13	344,150	326,050	1,651,950	1,306,025
2020-06-03	$4.32	$3.80	78.8%	24.1%	90.2%	20.7%	89.2%	22.6%	0.0%	1.9M	-458.8M	-2.1M	0.98	36.07	158,350	155,525	1,795,550	1,553,400
2020-06-04	$4.03	$4.40	77.0%	22.2%	94.0%	19.6%	71.0%	11.6%	0.2%	944.1K	-361.4M	-2.0M	0.98	33.98	198,900	195,775	1,824,425	1,537,100
2020-06-05	$4.60	$4.40	74.7%	22.0%	100.9%	18.3%	77.0%	12.9%	-2.3%	3.4M	-558.2M	-2.1M	0.53	42.20	390,675	206,300	1,878,600	1,557,150
2020-06-08	$4.43	$4.40	82.1%	23.6%	101.8%	22.6%	85.1%	14.5%	0.1%	2.3M	-478.6M	-2.1M	0.69	35.81	124,450	85,675	1,884,400	1,586,975
2020-06-09	$4.54	$4.40	82.5%	23.0%	102.0%	22.8%	80.4%	12.6%	-1.7%	2.4M	-519.5M	-2.1M	0.74	41.39	72,800	53,750	1,880,275	1,619,200
2020-06-10	$4.75	$4.40	76.6%	22.3%	97.6%	19.4%	77.1%	10.6%	2.6%	3.3M	-596.7M	-2.1M	0.98	41.87	195,200	190,775	1,901,125	1,640,600
2020-06-11	$4.31	$4.40	87.6%	26.0%	103.0%	25.7%	92.1%	10.4%	2.3%	1.4M	-428.8M	-2.1M	0.98	44.63	130,925	127,750	1,987,450	1,705,025
2020-06-12	$4.42	$4.40	87.5%	25.7%	103.2%	25.7%	92.9%	13.1%	3.2%	2.2M	-468.1M	-2.1M	0.38	38.98	219,150	84,200	1,985,100	1,720,550
2020-06-15	$4.55	$4.40	86.5%	24.7%	103.2%	25.1%	88.5%	9.3%	-1.7%	1.9M	-503.9M	-2.1M	1.44	34.54	30,525	44,050	1,879,450	1,615,550
2020-06-16	$4.71	$4.60	84.6%	24.2%	101.7%	24.0%	81.9%	10.2%	-1.9%	2.7M	-561.4M	-2.1M	0.35	40.10	79,750	28,300	1,885,125	1,628,700
2020-06-17	$4.76	$4.40	85.3%	24.5%	93.6%	24.4%	86.8%	10.8%	-2.3%	3.1M	-583.3M	-2.1M	0.58	36.48	53,100	31,025	1,907,325	1,638,875
2020-06-18	$4.91	$4.40	81.7%	23.4%	93.8%	22.3%	83.3%	9.2%	-1.3%	5.3M	-643.3M	-2.1M	0.49	37.07	79,825	39,475	1,928,375	1,654,750
2020-06-19	$5.03	$4.40	80.7%	23.1%	93.2%	21.7%	83.0%	7.8%	0.8%	9.9M	-701.3M	-2.1M	0.52	35.08	191,400	99,675	1,958,950	1,676,450
2020-06-22	$5.10	$4.60	81.1%	23.5%	93.2%	22.0%	81.0%	12.0%	3.6%	3.0M	-638.7M	-2.1M	0.36	21.84	145,000	51,550	1,800,500	1,260,075
2020-06-23	$5.12	$4.60	78.8%	22.4%	92.9%	20.7%	78.0%	9.8%	1.0%	4.4M	-654.5M	-2.1M	1.10	27.82	100,975	110,775	1,871,700	1,293,850
2020-06-24	$4.56	$4.60	81.5%	23.6%	102.6%	22.2%	81.8%	7.9%	1.5%	2.0M	-476.5M	-2.1M	0.92	34.14	160,150	146,800	1,883,975	1,313,625
2020-06-25	$4.69	$4.60	81.0%	22.0%	102.1%	21.9%	78.2%	8.3%	0.6%	3.8M	-534.2M	-2.1M	0.39	33.57	151,950	59,525	1,997,925	1,341,000
2020-06-26	$4.73	$4.60	80.5%	23.4%	101.6%	21.6%	79.2%	10.4%	2.7%	4.6M	-539.6M	-2.1M	0.39	35.70	114,625	44,800	1,991,800	1,351,600
2020-06-29	$4.81	$4.60	80.7%	22.6%	101.5%	21.7%	79.4%	12.7%	4.1%	2.7M	-551.4M	-2.1M	0.33	41.17	111,425	36,575	1,847,725	1,307,625
2020-06-30	$4.80	$4.60	76.5%	21.4%	85.3%	19.4%	78.0%	9.0%	8.4%	3.9M	-570.7M	-2.1M	0.85	38.27	22,200	18,975	1,929,825	1,322,725