CVNA Options History — July 2021

In July 2021, CVNA traded between $12.30 and $13.65. ATM implied volatility averaged 54.6%, placing in the 19.1% IV rank vs the trailing year. The 30-day expected move averaged 15.4%. IV traded above realized volatility by 25.0% (HV 20d: 29.6%). Max pain ranged from $10.80 to $11.20. Net GEX was positive for 21 of 21 trading days. Term structure was in contango for 3 of 21 days. Put/call ratio averaged 0.99.

Notable Days

2021-07-20: Highest Volume — 324,075 contracts
2021-07-06: Largest IV spike — 14.3% change
2021-07-28: Highest IV Rank — 23.8%
2021-07-27: Largest Expected Move — 17.1%

Monthly Statistics

Metric	Avg	Min	Max	Open	Close
Price	$12.99	$12.30	$13.65	$12.30	$13.46
Max Pain	$11.16	$10.80	$11.20	$10.80	$11.20
ATM IV	54.6%	46.2%	57.2%	46.2%	54.3%
Expected Move	15.4%	11.3%	17.1%	12.1%	16.3%
HV 20d	29.6%	24.3%	37.1%	37.0%	24.5%
HV 60d	44.3%	41.7%	47.0%	46.9%	41.7%
IV Rank	19.1%	4.2%	23.8%	4.2%	18.5%
IV Percentile	14.9%	3.6%	21.0%	3.6%	14.7%
Term Structure	-1.2%	-4.3%	7.6%	7.6%	-0.9%
VWIV	53.7%	40.0%	59.4%	42.3%	56.5%
Skew 25d	1.5%	-1.0%	5.1%	0.6%	0.7%
Skew 10d	0.7%	-17.2%	5.4%	0.7%	1.5%
Call IV 25d	53.2%	44.6%	56.0%	44.6%	55.7%
Put IV 25d	54.7%	44.9%	58.0%	45.2%	56.4%
Bid-Ask Spread %	37.95	30.27	51.17	36.66	38.19
Gamma HHI	0.08	0.06	0.15	0.06	0.06
Net GEX	25.3M	6.5M	41.8M	22.0M	19.1M
Net DEX	-1.55B	-1.81B	-1.13B	-1.32B	-1.66B
Net VEX	-6.1M	-6.8M	-5.4M	-6.8M	-5.4M
Div Yield	0.0%	0.0%	0.0%	0.0%	0.0%
P/C Ratio	0.99	0.33	1.95	0.60	0.85
Total Volume	148,836.905	81,775	324,075	101,975	92,275
Total OI	4,450,242.857	4,043,225	4,771,725	4,415,050	4,486,050

Daily Data (21 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
2021-07-01	$12.30	$10.80	46.2%	12.1%	37.0%	4.2%	42.3%	0.6%	7.6%	22.0M	-1.32B	-6.8M	0.60	36.66	63,775	38,200	2,306,075	2,108,975
2021-07-02	$12.48	$10.80	46.7%	11.3%	37.0%	5.1%	40.0%	-1.0%	6.9%	25.9M	-1.43B	-6.6M	0.65	51.17	92,425	60,200	2,327,875	2,122,875
2021-07-06	$12.61	$11.20	53.4%	15.4%	37.1%	17.1%	54.3%	5.0%	0.9%	23.7M	-1.47B	-6.4M	1.29	32.74	80,325	103,475	2,293,075	2,068,925
2021-07-07	$12.65	$11.20	54.5%	15.4%	36.6%	18.9%	54.6%	-0.5%	-1.3%	23.9M	-1.49B	-6.4M	1.48	30.27	36,850	54,375	2,318,000	2,108,925
2021-07-08	$12.81	$11.20	56.6%	15.3%	30.8%	22.7%	53.6%	0.7%	-4.3%	25.4M	-1.57B	-6.2M	1.95	37.03	91,525	178,625	2,324,250	2,124,675
2021-07-09	$12.97	$11.20	55.5%	14.9%	30.8%	20.8%	51.8%	2.5%	-2.6%	39.0M	-1.66B	-6.2M	0.62	34.39	156,550	96,775	2,351,850	2,248,775
2021-07-12	$12.93	$11.20	56.4%	14.9%	30.5%	22.4%	53.2%	0.0%	-3.6%	24.4M	-1.60B	-6.2M	1.15	31.14	72,475	83,350	2,317,425	2,207,050
2021-07-13	$12.96	$11.20	55.4%	15.0%	30.3%	20.5%	52.4%	0.2%	-2.5%	25.3M	-1.62B	-6.2M	0.74	40.14	93,100	68,975	2,357,475	2,240,375
2021-07-14	$12.64	$11.20	53.9%	14.7%	30.3%	17.9%	51.9%	2.3%	-3.0%	18.2M	-1.42B	-6.3M	1.35	43.32	64,800	87,325	2,389,525	2,275,075
2021-07-15	$12.43	$11.20	55.3%	15.1%	30.4%	20.3%	52.8%	2.8%	-3.3%	13.0M	-1.29B	-6.3M	1.12	41.67	72,250	80,725	2,404,500	2,319,925
2021-07-16	$12.52	$11.20	53.9%	15.1%	28.3%	17.8%	53.1%	2.1%	-0.5%	6.5M	-1.36B	-6.2M	1.34	45.94	46,250	61,825	2,427,400	2,344,325
2021-07-19	$12.44	$11.20	57.0%	16.1%	28.4%	23.4%	55.8%	2.4%	-1.5%	10.6M	-1.13B	-6.2M	0.76	33.89	73,350	56,100	1,935,875	2,107,350
2021-07-20	$13.07	$11.20	56.3%	16.0%	32.8%	22.2%	55.5%	1.3%	-0.0%	15.8M	-1.45B	-5.9M	0.33	34.76	244,250	79,825	1,955,725	2,130,775
2021-07-21	$13.23	$11.20	55.7%	16.0%	27.1%	21.1%	55.8%	1.0%	-1.0%	26.5M	-1.58B	-6.0M	0.64	35.07	91,200	58,025	2,121,325	2,238,000
2021-07-22	$13.41	$11.20	55.1%	15.9%	27.4%	20.0%	55.4%	1.1%	-3.1%	31.6M	-1.69B	-5.9M	0.81	33.70	68,300	55,300	2,167,175	2,264,475
2021-07-23	$13.58	$11.20	54.9%	15.9%	24.7%	19.7%	55.9%	0.0%	-2.5%	36.4M	-1.81B	-5.7M	0.65	34.46	80,025	51,675	2,196,250	2,283,775
2021-07-26	$13.52	$11.20	56.8%	16.7%	24.3%	23.0%	58.0%	5.1%	-2.7%	30.8M	-1.72B	-5.6M	1.67	32.97	42,450	70,900	2,113,150	2,225,625
2021-07-27	$13.48	$11.20	56.6%	17.1%	24.5%	22.6%	59.4%	-0.0%	-2.0%	31.0M	-1.69B	-5.7M	0.61	41.78	67,150	40,675	2,136,100	2,243,850
2021-07-28	$13.65	$11.20	57.2%	16.5%	24.3%	23.8%	58.0%	2.4%	-4.3%	39.7M	-1.80B	-5.5M	1.08	42.33	42,450	45,675	2,164,775	2,249,575
2021-07-29	$13.56	$11.20	54.9%	16.7%	24.5%	19.6%	57.9%	3.6%	-2.0%	41.8M	-1.72B	-5.6M	1.05	45.40	39,875	41,900	2,186,600	2,261,300
2021-07-30	$13.46	$11.20	54.3%	16.3%	24.5%	18.5%	56.5%	0.7%	-0.9%	19.1M	-1.66B	-5.4M	0.85	38.19	49,750	42,525	2,193,925	2,292,125