CVNA Options History — May 2022

In May 2022, CVNA traded between $1.06 and $2.38. ATM implied volatility averaged 152.1%, placing in the 81.8% IV rank vs the trailing year. The 30-day expected move averaged 43.5%. IV traded above realized volatility by 12.0% (HV 20d: 140.1%). Max pain ranged from $1.56 to $4.00. Net GEX was positive for 5 of 21 trading days. Term structure was in contango for 4 of 21 days. Put/call ratio averaged 1.02.

Notable Days

2022-05-12: Highest Volume — 3,368,675 contracts
2022-05-06: Largest IV spike — 15.4% change
2022-05-02: Highest IV Rank — 100.0%
2022-05-12: Largest Expected Move — 54.1%

Monthly Statistics

Metric	Avg	Min	Max	Open	Close
Price	$1.55	$1.06	$2.38	$2.38	$1.16
Max Pain	$2.35	$1.56	$4.00	$4.00	$1.56
ATM IV	152.1%	115.3%	203.5%	128.6%	147.1%
Expected Move	43.5%	34.4%	54.1%	39.3%	44.9%
HV 20d	140.1%	78.8%	184.3%	96.8%	184.3%
HV 60d	128.6%	111.4%	139.5%	111.7%	136.6%
IV Rank	81.8%	62.3%	100.0%	100.0%	66.4%
IV Percentile	98.0%	94.0%	100.0%	100.0%	94.4%
Term Structure	-4.3%	-14.2%	3.6%	-3.0%	-10.7%
VWIV	152.8%	124.9%	190.2%	139.1%	157.8%
Skew 25d	18.4%	10.0%	29.4%	20.0%	10.0%
Skew 10d	34.2%	24.2%	44.4%	39.6%	24.2%
Call IV 25d	143.9%	108.1%	191.1%	117.4%	141.0%
Put IV 25d	162.4%	126.0%	219.9%	137.4%	151.1%
Bid-Ask Spread %	30.22	16.35	43.36	16.35	21.42
Gamma HHI	0.08	0.05	0.14	0.09	0.06
Net GEX	-1.0M	-4.9M	2.3M	-3.1M	-4.9K
Net DEX	196.2M	24.0M	354.7M	302.3M	94.7M
Net VEX	-865.1K	-1.1M	-605.4K	-1.1M	-745.2K
Div Yield	0.0%	0.0%	0.0%	0.0%	0.0%
P/C Ratio	1.02	0.52	1.94	1.35	1.00
Total Volume	1,752,320.238	991,050	3,368,675	1,346,200	994,525
Total OI	7,001,233.333	5,233,375	9,194,475	5,233,375	6,364,425

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
2022-05-02	$2.38	$4.00	128.6%	39.3%	96.8%	100.0%	139.1%	20.0%	-3.0%	-3.1M	302.3M	-1.1M	1.35	16.35	571,750	774,450	2,500,250	2,733,125
2022-05-03	$2.28	$4.00	120.7%	36.6%	78.8%	91.5%	129.2%	17.7%	-2.1%	-3.2M	311.7M	-1.1M	0.99	18.75	498,150	492,900	2,687,725	2,958,375
2022-05-04	$2.36	$3.60	115.3%	34.4%	79.1%	85.7%	124.9%	17.9%	-1.2%	-3.0M	288.8M	-1.1M	0.93	25.75	616,600	572,225	2,844,925	3,030,400
2022-05-05	$1.92	$3.00	132.2%	36.1%	100.2%	100.0%	129.3%	20.2%	-2.3%	-2.7M	336.2M	-880.2K	1.94	37.20	719,000	1,398,275	2,891,475	3,016,300
2022-05-06	$1.83	$3.00	152.6%	41.3%	99.6%	100.0%	141.6%	18.7%	-5.6%	-4.9M	354.7M	-893.8K	1.47	35.78	1,072,875	1,581,650	3,090,800	3,360,900
2022-05-09	$1.55	$2.80	151.6%	42.0%	108.4%	99.2%	149.1%	19.4%	-2.7%	-2.0M	273.8M	-750.0K	1.53	37.49	554,975	846,525	2,685,450	3,031,975
2022-05-10	$1.46	$2.60	167.4%	45.6%	107.8%	100.0%	153.4%	29.4%	-8.7%	-1.9M	269.3M	-737.7K	0.79	42.84	1,345,100	1,068,700	2,881,900	3,362,875
2022-05-11	$1.20	$2.00	181.6%	49.6%	119.1%	100.0%	169.3%	26.7%	-9.3%	-1.7M	280.4M	-627.5K	1.48	37.36	1,011,950	1,499,575	3,681,800	3,693,775
2022-05-12	$1.50	$2.00	203.5%	54.1%	154.3%	100.0%	190.2%	28.8%	-14.2%	122.9K	150.2M	-968.3K	0.91	27.40	1,765,750	1,602,925	4,205,350	3,700,950
2022-05-13	$1.52	$2.00	175.2%	48.6%	155.9%	83.1%	172.8%	15.1%	-6.8%	-86.3K	175.5M	-956.2K	0.62	28.10	1,437,100	888,250	4,560,850	4,207,050
2022-05-16	$1.53	$2.00	155.7%	44.3%	156.9%	71.6%	152.3%	21.2%	0.5%	-576.8K	180.1M	-917.4K	0.52	25.30	1,534,925	794,925	3,430,525	3,363,350
2022-05-17	$1.64	$2.00	149.0%	42.8%	158.9%	67.6%	148.7%	17.5%	-9.3%	224.3K	125.9M	-1.0M	0.57	34.62	1,013,400	580,150	4,181,825	3,486,275
2022-05-18	$1.40	$2.00	163.3%	46.8%	163.5%	76.0%	162.5%	15.4%	-10.8%	-271.1K	173.4M	-893.0K	0.70	39.06	953,975	670,700	4,558,225	3,561,425
2022-05-19	$1.34	$2.00	149.7%	42.9%	161.9%	68.0%	153.6%	16.5%	3.6%	-437.9K	189.8M	-830.5K	0.70	43.36	879,950	612,900	5,221,175	3,683,175
2022-05-20	$1.32	$2.00	152.0%	43.8%	161.3%	69.3%	158.5%	12.0%	-1.9%	-5.0K	182.3M	-811.4K	1.31	41.89	455,950	595,775	5,516,575	3,677,900
2022-05-23	$1.19	$2.00	153.9%	45.5%	162.7%	70.4%	161.9%	15.7%	-2.7%	-274.2K	118.3M	-676.7K	1.78	27.14	470,450	835,675	3,268,675	2,575,350
2022-05-24	$1.06	$2.00	156.6%	46.2%	161.1%	72.1%	158.9%	22.2%	0.9%	-829.8K	136.4M	-605.4K	0.61	21.55	991,225	609,625	3,400,850	2,820,375
2022-05-25	$1.23	$1.60	151.7%	44.9%	175.4%	69.2%	157.0%	13.6%	-2.5%	369.3K	80.7M	-792.9K	0.94	29.04	770,525	721,275	4,015,600	2,954,700
2022-05-26	$1.26	$1.60	146.1%	43.3%	176.5%	65.8%	154.3%	12.2%	-2.0%	893.9K	71.4M	-821.8K	0.59	25.89	1,224,825	725,150	4,495,850	3,235,450
2022-05-27	$1.36	$1.56	140.2%	40.5%	179.6%	62.3%	144.6%	17.1%	1.2%	2.3M	24.0M	-926.6K	0.63	18.36	639,000	405,075	4,694,575	3,393,350
2022-05-31	$1.16	$1.56	147.1%	44.9%	184.3%	66.4%	157.8%	10.0%	-10.7%	-4.9K	94.7M	-745.2K	1.00	21.42	497,475	497,050	3,464,475	2,899,950