CVNA Options History — August 2021

In August 2021, CVNA traded between $13.15 and $14.73. ATM implied volatility averaged 42.6%, placing in the 4.8% IV rank vs the trailing year. The 30-day expected move averaged 12.1%. IV traded above realized volatility by 15.7% (HV 20d: 26.9%). Max pain ranged from $11.20 to $14.40. Net GEX was positive for 20 of 22 trading days. Term structure was in contango for 12 of 22 days. Put/call ratio averaged 1.71.

Notable Days

2021-08-06: Highest Volume — 823,725 contracts
2021-08-06: Largest IV drop — 24.6% change
2021-08-03: Highest IV Rank — 19.2%
2021-08-03: Largest Expected Move — 16.9%

Monthly Statistics

Metric	Avg	Min	Max	Open	Close
Price	$13.95	$13.15	$14.73	$13.39	$13.15
Max Pain	$13.61	$11.20	$14.40	$11.20	$14.20
ATM IV	42.6%	38.5%	54.7%	52.8%	39.5%
Expected Move	12.1%	10.2%	16.9%	16.5%	10.2%
HV 20d	26.9%	24.4%	30.9%	24.4%	30.9%
HV 60d	32.4%	29.7%	39.0%	39.0%	31.0%
IV Rank	4.8%	0.0%	19.2%	15.9%	1.5%
IV Percentile	4.0%	0.0%	16.3%	12.7%	1.2%
Term Structure	-0.2%	-4.9%	1.8%	-2.1%	1.1%
VWIV	42.9%	36.2%	59.2%	58.2%	36.2%
Skew 25d	2.7%	1.2%	4.2%	3.0%	4.1%
Skew 10d	5.1%	-0.8%	10.1%	2.0%	8.9%
Call IV 25d	41.7%	37.9%	53.6%	51.1%	38.2%
Put IV 25d	44.3%	40.2%	55.8%	54.2%	42.3%
Bid-Ask Spread %	50.76	33.84	62.83	33.84	56.47
Gamma HHI	0.09	0.06	0.49	0.06	0.06
Net GEX	14.9M	-9.7M	56.4M	16.2M	-2.0M
Net DEX	-1.67B	-2.22B	-931.5M	-1.59B	-931.5M
Net VEX	-4.8M	-5.5M	-4.4M	-5.2M	-5.2M
Div Yield	0.0%	0.0%	0.0%	0.0%	0.0%
P/C Ratio	1.71	0.57	5.68	1.01	1.52
Total Volume	229,282.955	110,425	823,725	119,500	275,250
Total OI	4,446,762.5	3,896,625	5,051,425	4,128,400	4,153,725

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
2021-08-02	$13.39	$11.20	52.8%	16.5%	24.4%	15.9%	58.2%	3.0%	-2.1%	16.2M	-1.59B	-5.2M	1.01	33.84	59,500	60,000	1,922,000	2,206,400
2021-08-03	$13.31	$11.20	54.7%	16.9%	24.5%	19.2%	59.2%	2.2%	-3.8%	15.9M	-1.55B	-5.3M	1.80	34.94	50,950	91,775	1,930,950	2,212,925
2021-08-04	$13.27	$11.20	53.9%	16.6%	24.6%	17.9%	58.3%	4.0%	-1.7%	16.4M	-1.52B	-5.5M	5.38	34.97	29,850	160,625	1,981,450	2,235,500
2021-08-05	$13.39	$12.80	53.5%	14.2%	24.4%	17.2%	50.2%	2.0%	-4.9%	15.4M	-1.55B	-5.5M	1.10	44.87	170,200	187,600	2,017,000	2,302,075
2021-08-06	$13.80	$12.80	40.3%	12.0%	26.2%	0.0%	41.5%	1.2%	-0.1%	18.7M	-1.83B	-4.8M	0.62	52.46	508,175	315,550	2,034,275	2,421,725
2021-08-09	$14.21	$12.80	40.1%	11.5%	27.6%	0.0%	40.3%	2.6%	0.1%	20.0M	-1.99B	-4.5M	1.14	51.09	132,975	151,275	1,981,050	2,356,175
2021-08-10	$14.73	$13.20	39.6%	11.2%	29.7%	0.0%	39.5%	1.9%	-0.5%	23.8M	-2.22B	-4.5M	0.92	47.75	287,650	264,375	2,088,825	2,429,825
2021-08-11	$14.44	$13.20	39.3%	11.4%	29.1%	0.0%	40.1%	1.2%	0.8%	22.8M	-2.13B	-4.4M	1.69	56.50	106,575	180,525	2,140,425	2,502,025
2021-08-12	$14.36	$14.40	38.9%	11.3%	28.1%	0.0%	40.4%	1.3%	0.4%	18.2M	-2.04B	-4.8M	1.00	54.89	62,250	62,275	2,257,000	2,652,000
2021-08-13	$14.39	$14.40	38.5%	11.2%	28.2%	0.0%	39.5%	2.0%	1.1%	27.6M	-2.07B	-4.6M	1.43	57.41	56,275	80,275	2,284,325	2,713,225
2021-08-16	$14.50	$14.40	40.2%	11.5%	27.8%	2.6%	41.5%	1.3%	1.8%	17.3M	-2.11B	-4.5M	1.54	50.90	79,575	122,250	2,196,525	2,620,750
2021-08-17	$14.14	$14.40	41.7%	12.0%	25.4%	5.2%	42.8%	2.8%	-0.8%	13.5M	-1.89B	-4.6M	1.27	56.85	80,525	102,600	2,202,250	2,659,050
2021-08-18	$14.10	$14.40	40.5%	11.6%	25.4%	3.3%	41.2%	3.3%	-0.3%	9.0M	-1.82B	-4.6M	0.57	61.05	87,525	50,275	2,214,350	2,721,975
2021-08-19	$13.97	$14.40	42.4%	12.2%	25.4%	6.3%	43.8%	3.4%	-1.3%	5.9M	-1.74B	-4.8M	1.30	62.83	64,150	83,675	2,251,450	2,749,625
2021-08-20	$13.99	$14.40	39.7%	11.3%	25.1%	1.9%	39.9%	3.5%	1.3%	56.4M	-1.75B	-4.7M	2.89	62.73	40,675	117,675	2,288,850	2,762,575
2021-08-23	$14.35	$14.40	40.4%	11.4%	26.3%	3.0%	40.2%	4.0%	0.7%	11.9M	-1.50B	-4.5M	1.03	42.31	83,825	86,000	1,626,050	2,270,575
2021-08-24	$14.15	$14.40	40.3%	11.0%	27.0%	2.9%	39.4%	3.9%	1.0%	9.1M	-1.42B	-4.5M	0.79	47.27	80,225	63,000	1,632,800	2,319,950
2021-08-25	$14.18	$14.40	40.0%	10.8%	26.7%	2.3%	38.2%	1.7%	1.2%	11.7M	-1.43B	-4.6M	5.68	50.97	16,525	93,900	1,690,775	2,362,400
2021-08-26	$14.04	$14.40	40.7%	10.8%	26.8%	3.5%	38.2%	4.2%	-0.1%	7.1M	-1.34B	-4.9M	2.27	50.57	43,125	97,950	1,748,175	2,390,375
2021-08-27	$13.59	$14.30	39.9%	10.7%	29.4%	2.1%	38.3%	2.4%	0.6%	-9.7M	-1.12B	-5.1M	1.05	52.47	89,925	94,375	1,753,825	2,466,475
2021-08-30	$13.52	$14.20	39.7%	10.2%	29.4%	1.8%	36.4%	3.0%	0.7%	1.9M	-1.09B	-5.2M	1.53	53.51	68,125	104,400	1,699,300	2,377,775
2021-08-31	$13.15	$14.20	39.5%	10.2%	30.9%	1.5%	36.2%	4.1%	1.1%	-2.0M	-931.5M	-5.2M	1.52	56.47	109,225	166,025	1,731,525	2,422,200