CVNA Options History — July 2020

In July 2020, CVNA traded between $5.07 and $6.26. ATM implied volatility averaged 81.4%, placing in the 22.2% IV rank vs the trailing year. The 30-day expected move averaged 23.1%. IV traded above realized volatility by 23.8% (HV 20d: 57.6%). Max pain ranged from $3.00 to $4.60. Net GEX was positive for 22 of 22 trading days. Term structure was in contango for 6 of 22 days. Put/call ratio averaged 0.87.

Notable Days

2020-07-06: Highest Volume — 287,525 contracts
2020-07-06: Largest IV spike — 11.3% change
2020-07-13: Highest IV Rank — 27.6%
2020-07-14: Largest Expected Move — 25.3%

Monthly Statistics

Metric	Avg	Min	Max	Open	Close
Price	$5.67	$5.07	$6.26	$5.07	$6.18
Max Pain	$3.32	$3.00	$4.60	$4.60	$3.20
ATM IV	81.4%	70.2%	90.9%	77.1%	70.2%
Expected Move	23.1%	19.0%	25.3%	20.4%	21.6%
HV 20d	57.6%	37.6%	87.1%	87.1%	38.5%
HV 60d	85.1%	74.2%	102.4%	102.4%	74.2%
IV Rank	22.2%	15.7%	27.6%	19.7%	15.7%
IV Percentile	64.2%	48.0%	80.2%	59.5%	48.0%
Term Structure	-0.9%	-5.7%	8.9%	6.0%	1.0%
VWIV	82.7%	67.4%	89.6%	72.4%	74.2%
Skew 25d	9.9%	5.9%	15.3%	9.1%	7.5%
Skew 10d	21.5%	12.3%	27.8%	12.3%	23.7%
Call IV 25d	77.1%	68.5%	86.5%	74.7%	68.5%
Put IV 25d	87.1%	76.0%	98.1%	83.7%	76.0%
Bid-Ask Spread %	29.44	20.48	46.37	46.37	32.09
Gamma HHI	0.08	0.06	0.18	0.07	0.07
Net GEX	5.3M	3.8M	8.5M	5.5M	4.1M
Net DEX	-816.2M	-959.8M	-651.1M	-657.8M	-932.3M
Net VEX	-2.0M	-2.2M	-1.8M	-2.1M	-1.8M
Div Yield	0.0%	0.0%	0.0%	0.0%	0.0%
P/C Ratio	0.87	0.27	1.93	0.86	0.28
Total Volume	147,578.409	43,375	287,525	112,150	220,150
Total OI	3,413,419.318	3,267,475	3,641,875	3,267,475	3,400,650

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
2020-07-01	$5.07	$4.60	77.1%	20.4%	87.1%	19.7%	72.4%	9.1%	6.0%	5.5M	-657.8M	-2.1M	0.86	46.37	60,250	51,900	1,938,875	1,328,600
2020-07-02	$5.14	$4.60	73.0%	19.0%	81.9%	17.3%	67.4%	10.6%	8.9%	8.5M	-691.2M	-2.2M	0.36	44.73	180,275	65,000	1,962,975	1,354,125
2020-07-06	$5.36	$3.00	81.2%	23.2%	69.6%	22.1%	87.2%	9.9%	-2.2%	5.0M	-734.5M	-2.1M	1.24	26.49	128,425	159,100	1,939,525	1,329,000
2020-07-07	$5.38	$3.20	83.6%	23.6%	67.7%	23.5%	82.5%	9.8%	-1.8%	5.3M	-742.5M	-2.1M	1.58	24.04	56,475	89,300	1,972,350	1,368,175
2020-07-08	$5.53	$3.20	82.9%	23.6%	67.9%	23.0%	84.1%	12.2%	-1.1%	5.4M	-803.4M	-2.1M	0.66	25.90	49,500	32,850	2,003,625	1,405,100
2020-07-09	$5.51	$3.20	89.1%	24.4%	66.6%	26.6%	87.1%	7.3%	-5.7%	6.0M	-799.9M	-2.1M	0.27	29.49	142,175	38,200	2,013,450	1,412,400
2020-07-10	$5.49	$3.20	90.0%	25.0%	54.3%	27.1%	88.0%	5.9%	-1.1%	4.5M	-786.3M	-2.1M	0.34	29.79	210,650	71,125	2,059,275	1,430,275
2020-07-13	$5.15	$3.20	90.9%	25.3%	60.5%	27.6%	87.0%	12.3%	-2.8%	4.2M	-651.1M	-2.1M	0.32	39.14	158,450	50,300	2,032,850	1,433,850
2020-07-14	$5.43	$3.20	88.6%	25.3%	62.2%	26.3%	87.2%	8.2%	0.3%	6.2M	-768.8M	-2.1M	1.47	35.87	52,725	77,525	2,125,400	1,457,650
2020-07-15	$5.47	$3.20	88.5%	24.9%	61.5%	26.2%	88.5%	8.3%	-1.6%	6.7M	-784.1M	-2.1M	1.44	30.31	71,675	102,975	2,142,525	1,482,600
2020-07-16	$5.49	$3.20	86.6%	24.6%	61.5%	25.2%	87.8%	15.3%	-2.5%	6.7M	-800.5M	-2.0M	0.68	32.13	31,350	21,400	2,142,625	1,490,325
2020-07-17	$5.63	$3.20	82.8%	23.4%	61.2%	23.0%	83.5%	8.3%	-1.1%	5.8M	-850.3M	-2.1M	0.27	24.22	205,050	56,325	2,144,825	1,497,050
2020-07-20	$5.80	$3.20	82.1%	23.4%	61.4%	22.6%	83.8%	11.2%	-3.7%	4.0M	-833.0M	-2.0M	0.99	23.86	46,250	45,975	1,936,500	1,348,175
2020-07-21	$5.80	$3.20	80.2%	22.9%	61.4%	21.5%	89.6%	12.9%	-1.6%	4.1M	-835.3M	-2.0M	0.61	23.76	90,650	55,075	1,951,125	1,363,650
2020-07-22	$5.95	$3.20	78.8%	22.6%	61.7%	20.7%	81.7%	10.5%	-2.0%	5.0M	-882.3M	-2.0M	1.18	22.36	42,325	49,800	1,977,025	1,380,700
2020-07-23	$5.91	$3.20	79.2%	22.8%	41.1%	20.9%	79.5%	12.1%	-2.2%	5.1M	-879.8M	-1.9M	1.15	27.93	57,250	65,875	1,990,800	1,401,750
2020-07-24	$5.91	$3.20	77.8%	22.4%	40.9%	20.1%	81.6%	11.9%	0.3%	8.4M	-868.6M	-2.0M	0.42	28.92	138,125	57,425	1,997,225	1,436,250
2020-07-27	$6.02	$3.20	77.1%	22.7%	40.9%	19.7%	84.9%	9.0%	0.6%	3.8M	-862.8M	-2.0M	1.93	21.35	14,800	28,575	1,942,150	1,396,300
2020-07-28	$6.08	$3.20	78.6%	22.7%	40.9%	20.6%	80.2%	10.3%	-4.0%	3.8M	-901.9M	-1.9M	1.53	20.48	26,175	40,175	1,945,750	1,406,150
2020-07-29	$6.21	$3.20	76.2%	22.4%	40.8%	19.2%	82.5%	8.5%	-2.9%	3.8M	-929.1M	-2.0M	0.75	31.15	31,000	23,125	1,949,675	1,416,725
2020-07-30	$6.26	$3.20	75.7%	23.1%	37.6%	18.9%	78.3%	7.6%	-1.3%	4.5M	-959.8M	-1.9M	0.87	27.29	27,200	23,775	1,961,125	1,426,050
2020-07-31	$6.18	$3.20	70.2%	21.6%	38.5%	15.7%	74.2%	7.5%	1.0%	4.1M	-932.3M	-1.8M	0.28	32.09	172,250	47,900	1,971,450	1,429,200