CVNA Options History — October 2020

In October 2020, CVNA traded between $7.32 and $9.35. ATM implied volatility averaged 86.1%, placing in the 24.9% IV rank vs the trailing year. The 30-day expected move averaged 24.3%. IV traded below realized volatility by 4.5% (HV 20d: 90.6%). Max pain ranged from $6.60 to $8.80. Net GEX was positive for 4 of 22 trading days. Term structure was in contango for 2 of 22 days. Put/call ratio averaged 0.97.

Notable Days

2020-10-30: Highest Volume — 943,625 contracts
2020-10-02: Largest IV spike — 21.2% change
2020-10-06: Highest IV Rank — 30.1%
2020-10-28: Largest Expected Move — 28.4%

Monthly Statistics

Metric	Avg	Min	Max	Open	Close
Price	$8.41	$7.32	$9.35	$9.35	$7.32
Max Pain	$6.91	$6.60	$8.80	$8.80	$6.80
ATM IV	86.1%	76.8%	95.2%	76.8%	79.4%
Expected Move	24.3%	19.3%	28.4%	19.3%	24.0%
HV 20d	90.6%	55.5%	120.0%	120.0%	55.5%
HV 60d	95.8%	84.5%	98.2%	95.1%	84.5%
IV Rank	24.9%	19.5%	30.1%	19.5%	21.0%
IV Percentile	71.2%	54.4%	83.3%	56.7%	54.4%
Term Structure	-1.9%	-5.0%	13.8%	13.8%	-0.7%
VWIV	86.4%	71.0%	98.4%	71.0%	86.1%
Skew 25d	5.1%	1.2%	8.1%	7.7%	4.6%
Skew 10d	11.3%	1.0%	22.5%	14.9%	5.1%
Call IV 25d	83.5%	72.1%	89.9%	72.1%	78.6%
Put IV 25d	88.6%	79.8%	93.8%	79.8%	83.1%
Bid-Ask Spread %	24.64	9.75	41.97	18.81	41.97
Gamma HHI	0.08	0.04	0.31	0.07	0.09
Net GEX	-2.8M	-8.7M	3.3M	3.3M	-3.8M
Net DEX	-917.4M	-1.22B	-622.3M	-1.22B	-622.3M
Net VEX	-2.2M	-2.3M	-2.0M	-2.0M	-2.2M
Div Yield	0.0%	0.0%	0.0%	0.0%	0.0%
P/C Ratio	0.97	0.29	1.73	1.30	1.73
Total Volume	374,243.182	124,850	943,625	576,325	943,625
Total OI	3,841,993.182	3,603,000	4,173,525	3,673,900	4,173,525

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
2020-10-01	$9.35	$8.80	76.8%	19.3%	120.0%	19.5%	71.0%	7.7%	13.8%	3.3M	-1.22B	-2.0M	1.30	18.81	250,775	325,550	1,772,375	1,901,525
2020-10-02	$8.89	$8.80	93.1%	21.1%	115.2%	28.9%	74.6%	1.2%	-2.5%	-2.2M	-1.01B	-2.2M	1.31	19.14	327,875	428,525	1,823,050	2,054,950
2020-10-05	$9.03	$6.60	93.0%	25.2%	112.7%	28.8%	89.2%	5.4%	-1.9%	-1.6M	-1.05B	-2.3M	1.08	19.91	75,950	82,175	1,741,200	1,983,725
2020-10-06	$8.60	$6.60	95.2%	25.7%	113.4%	30.1%	91.6%	3.5%	-3.2%	-4.7M	-897.0M	-2.3M	1.52	21.06	100,275	152,425	1,752,550	2,015,375
2020-10-07	$8.74	$6.60	90.7%	24.7%	113.2%	27.5%	88.6%	4.3%	-0.3%	-4.4M	-952.9M	-2.3M	0.84	20.05	67,900	56,950	1,788,400	2,054,600
2020-10-08	$8.58	$6.60	87.0%	23.8%	113.6%	25.4%	87.8%	6.9%	-1.9%	-7.4M	-896.8M	-2.2M	1.08	11.97	93,750	101,700	1,801,450	2,060,150
2020-10-09	$8.51	$6.60	84.6%	23.6%	112.8%	24.0%	89.9%	7.8%	0.2%	-6.1M	-879.9M	-2.2M	1.41	14.84	105,450	148,475	1,835,425	2,076,325
2020-10-12	$8.42	$6.60	82.7%	22.7%	112.8%	22.9%	79.9%	8.0%	-3.4%	-5.9M	-863.2M	-2.2M	1.32	9.75	88,825	116,950	1,755,050	1,986,950
2020-10-13	$8.72	$6.60	82.8%	22.9%	113.1%	23.0%	81.5%	4.8%	-3.0%	-5.5M	-975.4M	-2.2M	0.52	16.04	220,475	114,000	1,795,300	2,026,300
2020-10-14	$8.56	$6.60	84.7%	23.3%	113.4%	24.1%	81.8%	4.4%	-2.6%	-6.1M	-922.2M	-2.3M	0.29	24.43	313,600	91,725	1,878,200	2,062,625
2020-10-15	$8.85	$6.80	82.6%	23.3%	110.8%	22.9%	81.6%	2.7%	-1.3%	-633.4K	-1.08B	-2.3M	0.40	31.02	372,275	149,800	1,962,100	2,089,325
2020-10-16	$8.87	$6.80	82.0%	22.9%	110.6%	22.5%	82.2%	3.1%	-2.8%	-8.7M	-1.11B	-2.2M	0.63	11.78	394,600	249,450	1,970,450	2,128,025
2020-10-19	$8.58	$6.80	87.8%	25.1%	111.2%	25.9%	86.2%	8.1%	-4.3%	-798.9K	-993.5M	-2.2M	0.72	30.59	176,825	127,700	1,845,375	1,819,700
2020-10-20	$8.03	$6.80	86.8%	24.8%	59.6%	25.3%	88.1%	6.0%	-4.5%	-4.0M	-783.4M	-2.3M	1.13	29.47	219,450	248,300	1,853,725	1,863,950
2020-10-21	$7.66	$6.80	86.7%	24.9%	60.6%	25.2%	88.0%	4.6%	-1.9%	-4.0M	-676.2M	-2.3M	0.76	27.09	208,450	159,250	1,920,775	1,901,325
2020-10-22	$8.10	$6.80	85.3%	24.7%	62.1%	24.4%	86.7%	5.3%	-5.0%	-316.8K	-867.4M	-2.3M	1.14	28.80	176,100	200,775	1,998,975	1,917,900
2020-10-23	$8.07	$6.80	82.5%	24.1%	61.0%	22.8%	84.4%	5.5%	-4.5%	-432.8K	-859.4M	-2.3M	0.95	32.42	116,425	111,125	2,015,025	1,998,350
2020-10-26	$8.02	$6.80	85.9%	26.1%	55.5%	24.7%	92.6%	3.7%	-1.5%	140.3K	-860.6M	-2.2M	0.71	30.93	75,400	53,425	1,827,875	1,775,125
2020-10-27	$8.34	$6.80	85.7%	26.2%	55.5%	24.6%	92.7%	4.9%	-1.5%	1.7M	-968.6M	-2.2M	0.74	31.24	99,525	73,700	1,862,225	1,799,575
2020-10-28	$8.17	$6.80	89.4%	28.4%	55.8%	26.8%	98.4%	5.1%	-3.9%	1.2M	-915.7M	-2.2M	0.70	33.48	152,025	107,175	1,908,200	1,836,525
2020-10-29	$7.70	$6.80	89.4%	28.1%	55.5%	26.8%	97.4%	4.9%	-4.4%	-701.8K	-775.6M	-2.3M	0.96	37.34	282,825	271,775	2,011,200	1,879,075
2020-10-30	$7.32	$6.80	79.4%	24.0%	55.5%	21.0%	86.1%	4.6%	-0.7%	-3.8M	-622.3M	-2.2M	1.73	41.97	345,100	598,525	2,167,650	2,005,875