CVNA Options History — February 2022

In February 2022, CVNA traded between $4.58 and $6.59. ATM implied volatility averaged 102.1%, placing in the 86.4% IV rank vs the trailing year. The 30-day expected move averaged 28.9%. IV traded below realized volatility by 2.6% (HV 20d: 104.7%). Max pain ranged from $7.00 to $8.00. Net GEX was positive for 15 of 19 trading days. Term structure was in contango for 2 of 19 days. Put/call ratio averaged 0.61.

Notable Days

2022-02-25: Highest Volume — 1,943,825 contracts
2022-02-25: Largest IV drop — 22.8% change
2022-02-22: Highest IV Rank — 97.8%
2022-02-24: Largest Expected Move — 33.6%

Monthly Statistics

Metric	Avg	Min	Max	Open	Close
Price	$5.73	$4.58	$6.59	$6.59	$5.98
Max Pain	$7.65	$7.00	$8.00	$7.00	$7.40
ATM IV	102.1%	83.7%	110.9%	103.5%	87.8%
Expected Move	28.9%	24.8%	33.6%	25.4%	26.2%
HV 20d	104.7%	79.5%	114.5%	109.8%	114.5%
HV 60d	88.3%	82.8%	101.8%	82.8%	101.6%
IV Rank	86.4%	62.5%	97.8%	88.2%	67.8%
IV Percentile	96.4%	90.5%	98.8%	98.0%	90.5%
Term Structure	-3.6%	-6.6%	0.7%	-3.7%	0.7%
VWIV	98.8%	84.0%	116.9%	88.7%	95.7%
Skew 25d	13.7%	10.1%	17.5%	14.7%	12.2%
Skew 10d	28.7%	20.5%	35.1%	31.9%	24.4%
Call IV 25d	96.1%	80.5%	106.2%	97.6%	82.7%
Put IV 25d	109.9%	91.6%	120.0%	112.3%	94.9%
Bid-Ask Spread %	25.36	13.57	51.82	37.63	16.05
Gamma HHI	0.09	0.05	0.15	0.09	0.10
Net GEX	4.8M	-2.1M	17.5M	12.5M	6.5M
Net DEX	453.0M	97.6M	715.9M	97.6M	402.6M
Net VEX	-2.7M	-4.2M	-1.3M	-4.2M	-2.3M
Div Yield	0.0%	0.0%	0.0%	0.0%	0.0%
P/C Ratio	0.61	0.19	1.28	0.73	1.26
Total Volume	761,678.947	469,450	1,943,825	560,250	491,325
Total OI	7,313,375	5,945,300	8,117,750	7,009,450	6,024,900

Daily Data (19 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
2022-02-01	$6.59	$7.00	103.5%	25.4%	109.8%	88.2%	88.7%	14.7%	-3.7%	12.5M	97.6M	-4.2M	0.73	37.63	324,500	235,750	4,644,050	2,365,400
2022-02-02	$6.34	$7.00	103.1%	24.8%	108.0%	87.7%	84.0%	10.1%	-5.6%	8.9M	257.9M	-3.8M	0.50	51.82	369,425	185,725	4,697,050	2,401,725
2022-02-03	$5.85	$8.00	105.4%	29.2%	106.5%	90.7%	93.2%	16.9%	-1.8%	4.8M	481.9M	-3.1M	0.34	20.05	782,700	269,025	4,851,475	2,421,900
2022-02-04	$6.03	$8.00	110.1%	29.4%	106.8%	96.8%	101.2%	16.4%	-5.2%	7.9M	324.6M	-3.6M	0.82	23.45	267,375	218,725	5,085,275	2,488,050
2022-02-07	$5.82	$8.00	101.5%	27.8%	107.1%	85.7%	91.0%	13.7%	-2.9%	4.2M	486.8M	-2.9M	0.19	21.14	1,193,850	225,650	4,993,875	2,361,500
2022-02-08	$6.11	$8.00	97.6%	27.8%	109.1%	80.5%	89.5%	17.5%	-0.1%	8.9M	369.4M	-3.4M	0.38	24.42	479,875	180,550	5,280,725	2,415,375
2022-02-09	$6.48	$8.00	95.5%	26.9%	110.4%	77.8%	88.9%	17.3%	-1.3%	17.5M	149.2M	-3.9M	0.61	21.97	441,675	271,100	5,365,275	2,419,325
2022-02-10	$6.14	$7.80	96.0%	27.4%	110.4%	78.5%	89.4%	13.2%	0.4%	7.6M	386.2M	-3.3M	0.69	21.81	302,450	209,375	5,373,475	2,510,925
2022-02-11	$5.61	$7.80	105.0%	29.0%	111.0%	90.1%	97.0%	11.9%	-6.6%	967.8K	624.8M	-2.6M	0.40	22.33	621,125	245,475	5,387,650	2,520,725
2022-02-14	$5.62	$7.80	108.1%	30.6%	110.1%	94.2%	104.7%	13.9%	-4.5%	2.7M	544.6M	-2.6M	0.57	24.23	329,150	186,300	5,502,775	2,399,750
2022-02-15	$5.68	$7.60	104.7%	29.8%	108.7%	89.8%	101.1%	14.6%	-3.6%	2.0M	559.6M	-2.5M	0.43	29.92	379,150	162,575	5,569,350	2,417,625
2022-02-16	$5.53	$7.60	100.8%	28.9%	108.9%	84.7%	101.5%	11.6%	-3.4%	266.2K	602.7M	-2.4M	0.23	23.73	612,000	137,700	5,680,050	2,429,925
2022-02-17	$5.39	$7.60	104.4%	30.2%	109.1%	89.4%	106.3%	12.2%	-6.3%	-701.0K	654.9M	-2.2M	0.53	24.78	326,375	173,200	5,612,225	2,437,425
2022-02-18	$5.12	$7.60	105.4%	30.8%	97.6%	90.7%	111.0%	13.5%	-5.9%	-2.1M	715.9M	-1.9M	1.28	22.79	206,100	263,350	5,650,450	2,467,300
2022-02-22	$4.82	$7.60	110.9%	33.5%	80.8%	97.8%	116.9%	11.4%	-5.4%	-111.6K	596.7M	-1.6M	0.42	14.82	478,800	201,925	3,890,550	2,054,750
2022-02-23	$4.58	$7.60	107.9%	32.6%	79.5%	93.9%	112.4%	14.3%	-5.5%	-697.6K	639.5M	-1.3M	0.70	13.57	363,450	253,025	3,976,550	2,110,900
2022-02-24	$5.01	$7.60	108.5%	33.6%	86.1%	94.6%	115.8%	14.6%	-6.3%	1.6M	580.7M	-1.6M	0.87	44.43	609,175	530,125	4,085,375	2,210,600
2022-02-25	$6.16	$7.40	83.7%	25.0%	114.5%	62.5%	88.9%	11.1%	-1.3%	9.4M	131.8M	-2.4M	0.62	22.96	1,199,675	744,150	4,369,650	2,480,200
2022-02-28	$5.98	$7.40	87.8%	26.2%	114.5%	67.8%	95.7%	12.2%	0.7%	6.5M	402.6M	-2.3M	1.26	16.05	217,675	273,650	3,761,800	2,263,100