CVNA Options History — May 2021

In May 2021, CVNA traded between $9.01 and $11.65. ATM implied volatility averaged 55.2%, placing in the 6.0% IV rank vs the trailing year. The 30-day expected move averaged 16.1%. IV traded above realized volatility by 0.6% (HV 20d: 54.6%). Max pain ranged from $9.60 to $10.80. Net GEX was positive for 8 of 20 trading days. Term structure was in contango for 8 of 20 days. Put/call ratio averaged 2.23.

Notable Days

  • 2021-05-17: Highest Volume — 1,172,675 contracts
  • 2021-05-07: Largest IV drop — 20.6% change
  • 2021-05-12: Highest IV Rank — 19.6%
  • 2021-05-04: Largest Expected Move — 20.0%

Monthly Statistics

MetricAvgMinMaxOpenClose
Price$10.03$9.01$11.65$11.65$10.61
Max Pain$10.18$9.60$10.80$9.60$10.00
ATM IV55.2%47.2%65.1%60.5%50.0%
Expected Move16.1%14.0%20.0%19.0%14.1%
HV 20d54.6%45.4%60.8%47.6%57.0%
HV 60d64.6%56.8%68.3%63.8%56.8%
IV Rank6.0%0.0%19.6%5.2%5.3%
IV Percentile3.7%0.0%31.7%4.8%0.4%
Term Structure-0.3%-4.6%4.3%-1.9%-0.2%
VWIV56.3%49.0%71.3%65.5%49.0%
Skew 25d4.1%0.7%7.1%4.1%2.7%
Skew 10d8.7%-1.4%15.8%7.1%6.3%
Call IV 25d52.4%41.8%61.0%57.7%49.0%
Put IV 25d56.5%48.0%64.9%61.8%51.7%
Bid-Ask Spread %53.6542.7267.3752.0156.63
Gamma HHI0.130.080.280.080.18
Net GEX-2.3M-18.5M24.0M2.6M24.0M
Net DEX-221.6M-762.2M397.8M-741.5M-762.2M
Net VEX-3.0M-4.2M-2.2M-2.6M-4.2M
Div Yield0.0%0.0%0.0%0.0%0.0%
P/C Ratio2.230.2115.351.501.63
Total Volume275,732.596,2501,172,675128,400144,625
Total OI3,361,772.52,295,8503,994,4502,906,9753,087,550

Daily Data (20 trading days)

DatePriceMax PainATM IVExp MoveHV 20dIV RankVWIVSkew 25dTerm StrGEXDEXVEXP/CSpread %Call VolPut VolCall OIPut OI
2021-05-03$11.65$9.6060.5%19.0%47.6%5.2%65.5%4.1%-1.9%2.6M-741.5M-2.6M1.5052.0151,40077,0001,239,0251,667,950
2021-05-04$11.51$9.6061.8%20.0%46.4%8.1%71.3%0.7%-1.8%1.9M-676.9M-2.8M15.3552.9923,475360,2501,273,5251,712,125
2021-05-05$11.25$9.6061.0%20.0%45.4%6.8%68.9%2.5%-2.7%-1.4M-580.8M-2.8M2.0055.5435,72571,2751,284,9252,048,875
2021-05-06$10.52$10.8065.1%17.6%51.5%16.5%60.8%3.9%-4.6%-6.1M-280.1M-2.9M1.4950.15155,850232,2751,296,7002,089,050
2021-05-07$9.95$10.8051.7%15.0%55.0%0.0%52.2%2.4%-0.2%-18.5M-44.6M-2.7M1.4850.28109,075161,4251,403,3002,188,200
2021-05-10$9.68$10.8052.1%15.0%55.6%0.9%52.0%3.2%-0.9%-9.9M39.1M-2.6M3.8348.2877,700297,3501,304,0002,068,300
2021-05-11$9.56$10.8055.6%15.5%54.1%8.1%54.0%7.1%-1.8%-11.7M104.4M-2.6M1.5551.3450,10077,4751,338,3502,318,125
2021-05-12$9.01$10.8061.2%17.6%56.7%19.6%63.1%6.9%0.2%-13.5M380.4M-2.4M2.3342.7261,150142,5501,360,1252,335,850
2021-05-13$9.01$10.4058.5%17.0%52.7%14.0%59.4%4.4%1.1%-13.6M397.8M-2.3M2.5951.4341,200106,5751,388,1752,347,525
2021-05-14$9.48$10.4053.8%15.4%56.5%4.3%55.8%4.3%0.6%-15.4M161.4M-2.5M1.3056.0647,62561,8001,397,0752,387,550
2021-05-17$9.05$10.0057.4%16.4%58.0%11.7%55.4%6.6%-0.5%-13.2M396.8M-2.2M0.6253.16724,700447,9751,339,7002,364,625
2021-05-18$9.12$10.0054.5%15.6%56.8%5.9%53.3%5.5%-0.1%-3.5M90.2M-3.0M0.5459.2887,70047,7001,636,1002,162,125
2021-05-19$9.09$10.0055.8%16.0%56.0%8.6%55.1%5.3%1.3%-3.2M95.4M-3.0M0.2756.73198,72553,4001,665,0252,152,825
2021-05-20$9.65$10.0053.3%15.2%60.8%3.4%53.0%3.8%1.2%-174.1K-212.3M-3.3M0.3760.88197,02573,0501,675,3002,162,100
2021-05-21$9.85$10.0052.1%14.9%59.1%0.8%52.3%3.6%0.2%5.1M-426.0M-3.4M0.7567.3795,80071,9501,799,5752,194,875
2021-05-24$10.16$10.0051.3%14.3%54.7%0.0%56.2%3.9%-0.4%5.1M-496.8M-3.3M4.8749.9155,225269,0001,333,650962,200
2021-05-25$10.41$10.0050.3%14.3%55.8%0.0%49.8%3.3%1.7%6.2M-586.4M-3.4M1.3751.68182,200249,5751,364,1001,143,975
2021-05-26$10.38$10.0051.1%14.0%55.8%1.7%49.7%1.9%-0.6%7.4M-581.0M-3.9M0.5951.0960,40035,8501,492,3501,363,675
2021-05-27$10.71$10.0047.2%14.5%57.0%0.0%49.2%6.2%4.3%12.2M-708.7M-3.9M0.2155.53229,50048,9751,510,6501,376,300
2021-05-28$10.61$10.0050.0%14.1%57.0%5.3%49.0%2.7%-0.2%24.0M-762.2M-4.2M1.6356.6355,02589,6001,687,4751,400,075