CVNA Options History — September 2022

In September 2022, CVNA traded between $0.83 and $1.69. ATM implied volatility averaged 127.7%, placing in the 54.9% IV rank vs the trailing year. The 30-day expected move averaged 36.2%. IV traded above realized volatility by 8.9% (HV 20d: 118.8%). Max pain ranged from $1.40 to $1.80. Net GEX was positive for 10 of 21 trading days. Term structure was in contango for 16 of 21 days. Put/call ratio averaged 0.84.

Notable Days

2022-09-29: Highest Volume — 3,267,800 contracts
2022-09-29: Largest IV spike — 6.7% change
2022-09-29: Highest IV Rank — 66.8%
2022-09-29: Largest Expected Move — 40.7%

Monthly Statistics

Metric	Avg	Min	Max	Open	Close
Price	$1.24	$0.83	$1.69	$1.30	$0.83
Max Pain	$1.60	$1.40	$1.80	$1.80	$1.40
ATM IV	127.7%	114.3%	147.8%	127.0%	147.3%
Expected Move	36.2%	32.6%	40.7%	36.4%	39.8%
HV 20d	118.8%	103.0%	170.3%	170.3%	135.2%
HV 60d	146.0%	134.7%	151.3%	151.2%	142.2%
IV Rank	54.9%	46.9%	66.8%	54.4%	66.5%
IV Percentile	72.4%	63.9%	88.1%	71.4%	87.3%
Term Structure	2.1%	-2.3%	7.9%	1.2%	5.7%
VWIV	127.8%	115.4%	145.9%	131.5%	145.0%
Skew 25d	8.3%	2.1%	12.8%	9.6%	2.1%
Skew 10d	15.7%	4.4%	24.8%	17.8%	9.1%
Call IV 25d	125.2%	110.2%	147.6%	126.0%	147.6%
Put IV 25d	133.5%	121.1%	154.0%	135.6%	149.7%
Bid-Ask Spread %	21.43	10.57	54.70	54.70	21.24
Gamma HHI	0.06	0.04	0.14	0.06	0.14
Net GEX	54.8K	-1.3M	2.0M	-736.0K	-417.1K
Net DEX	-20.6M	-232.7M	74.7M	17.3M	39.2M
Net VEX	-1.6M	-2.0M	-1.0M	-1.8M	-1.3M
Div Yield	0.0%	0.0%	0.0%	0.0%	0.0%
P/C Ratio	0.84	0.22	2.51	1.54	1.09
Total Volume	1,075,754.762	412,550	3,267,800	467,225	1,500,625
Total OI	10,128,455.952	8,076,650	11,839,025	10,767,275	11,839,025

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
2022-09-01	$1.30	$1.80	127.0%	36.4%	170.3%	54.4%	131.5%	9.6%	1.2%	-736.0K	17.3M	-1.8M	1.54	54.70	184,300	282,925	6,021,550	4,745,725
2022-09-02	$1.27	$1.80	128.9%	36.4%	116.3%	55.6%	130.8%	11.0%	0.4%	-1.0M	38.3M	-1.7M	1.24	54.26	432,650	538,150	6,064,850	4,785,650
2022-09-06	$1.27	$1.60	125.2%	35.5%	116.5%	53.4%	123.4%	8.3%	0.8%	-857.4K	27.1M	-1.6M	1.44	18.27	369,550	532,575	5,670,625	4,540,450
2022-09-07	$1.34	$1.60	122.9%	34.6%	114.2%	52.0%	119.3%	10.0%	-0.1%	-371.4K	-8.4M	-1.7M	0.70	20.11	466,550	328,150	5,771,250	4,542,300
2022-09-08	$1.35	$1.60	115.3%	33.1%	103.0%	47.5%	115.4%	12.8%	0.3%	-371.7K	-8.9M	-1.7M	2.51	23.70	244,575	613,775	5,937,500	4,655,900
2022-09-09	$1.47	$1.60	114.3%	32.6%	105.4%	46.9%	116.3%	10.8%	-1.4%	627.4K	-94.0M	-1.8M	0.67	19.99	502,775	335,275	6,014,675	4,585,000
2022-09-12	$1.69	$1.60	119.2%	33.6%	118.0%	49.8%	120.2%	6.0%	-2.3%	2.0M	-232.7M	-2.0M	0.55	11.14	831,275	459,000	5,837,775	4,409,325
2022-09-13	$1.47	$1.60	123.8%	34.9%	126.9%	52.5%	123.4%	10.3%	-1.8%	430.9K	-82.0M	-1.8M	0.67	11.97	731,700	488,225	6,218,025	4,557,050
2022-09-14	$1.43	$1.60	121.9%	35.2%	123.1%	51.4%	121.2%	8.2%	2.7%	-909	-69.1M	-1.8M	0.50	21.63	619,825	311,600	6,348,275	4,652,225
2022-09-15	$1.49	$1.60	121.2%	34.5%	121.5%	51.0%	124.5%	9.2%	-1.0%	898.7K	-100.3M	-1.8M	0.86	19.25	485,825	415,925	6,599,000	4,734,000
2022-09-16	$1.32	$1.60	125.3%	36.2%	126.8%	53.4%	126.2%	8.7%	2.6%	-1.3M	11.2M	-1.7M	0.61	15.18	797,200	485,875	6,754,700	4,835,425
2022-09-19	$1.33	$1.60	123.2%	35.1%	120.5%	52.2%	123.7%	6.7%	3.8%	408.5K	-66.6M	-1.6M	0.22	10.57	782,775	172,475	4,615,150	3,461,500
2022-09-20	$1.25	$1.60	127.2%	36.4%	107.7%	54.6%	126.2%	9.0%	2.2%	525.2K	-37.7M	-1.5M	0.76	13.84	233,875	178,675	5,304,750	3,562,300
2022-09-21	$1.23	$1.60	125.2%	35.9%	106.9%	53.4%	124.1%	5.2%	3.6%	287.0K	-29.4M	-1.5M	0.67	17.91	295,950	199,025	5,420,100	3,609,200
2022-09-22	$1.09	$1.60	124.8%	35.6%	111.7%	53.1%	123.0%	8.4%	2.6%	-706.7K	33.0M	-1.3M	0.34	11.25	1,225,125	418,750	5,556,025	3,681,150
2022-09-23	$1.05	$1.60	130.2%	37.0%	108.8%	56.3%	129.9%	7.4%	2.5%	-3.0K	33.9M	-1.3M	1.11	16.61	374,850	417,225	6,161,900	3,763,200
2022-09-26	$0.99	$1.60	135.7%	38.9%	106.9%	59.6%	136.6%	5.3%	6.9%	65.3K	36.2M	-1.2M	0.48	19.14	869,600	415,400	5,056,450	3,522,375
2022-09-27	$1.00	$1.60	137.2%	39.5%	107.4%	60.5%	138.3%	7.9%	7.9%	587.8K	18.6M	-1.2M	0.63	20.55	507,875	320,100	5,575,475	3,676,275
2022-09-28	$1.08	$1.50	138.5%	39.1%	112.5%	61.3%	139.9%	6.6%	1.5%	1.7M	-32.6M	-1.4M	0.64	18.51	580,875	372,150	5,879,525	3,740,575
2022-09-29	$0.87	$1.50	147.8%	40.7%	134.8%	66.8%	145.9%	11.1%	6.7%	-576.5K	74.7M	-1.0M	0.36	30.15	2,401,450	866,350	6,117,200	3,874,125
2022-09-30	$0.83	$1.40	147.3%	39.8%	135.2%	66.5%	145.0%	2.1%	5.7%	-417.1K	39.2M	-1.3M	1.09	21.24	719,075	781,550	7,913,925	3,925,100