CVNA Options History — November 2022

In November 2022, CVNA traded between $0.27 and $0.61. ATM implied volatility averaged 167.4%, placing in the 78.3% IV rank vs the trailing year. The 30-day expected move averaged 48.2%. IV traded below realized volatility by 47.6% (HV 20d: 215.0%). Max pain ranged from $0.60 to $1.00. Net GEX was positive for 14 of 21 trading days. Term structure was in contango for 2 of 21 days. Put/call ratio averaged 0.93.

Notable Days

2022-11-04: Highest Volume — 8,404,475 contracts
2022-11-11: Largest IV drop — 6.7% change
2022-11-16: Highest IV Rank — 83.4%
2022-11-02: Largest Expected Move — 57.5%

Monthly Statistics

Metric	Avg	Min	Max	Open	Close
Price	$0.37	$0.27	$0.61	$0.61	$0.31
Max Pain	$0.67	$0.60	$1.00	$1.00	$0.60
ATM IV	167.4%	157.9%	175.7%	167.9%	164.7%
Expected Move	48.2%	44.8%	57.5%	56.4%	47.7%
HV 20d	215.0%	115.4%	244.6%	115.4%	241.0%
HV 60d	158.0%	119.7%	171.9%	122.7%	171.9%
IV Rank	78.3%	72.1%	83.4%	78.8%	75.8%
IV Percentile	93.9%	82.5%	99.2%	98.0%	90.1%
Term Structure	-3.2%	-8.3%	1.7%	-5.0%	-2.2%
VWIV	172.3%	159.5%	201.0%	198.6%	170.8%
Skew 25d	13.7%	1.1%	25.9%	6.3%	25.9%
Skew 10d	30.4%	3.4%	54.9%	14.5%	51.8%
Call IV 25d	164.5%	150.8%	175.5%	166.5%	150.8%
Put IV 25d	178.2%	165.7%	189.9%	172.8%	176.8%
Bid-Ask Spread %	24.44	7.64	64.74	10.28	8.62
Gamma HHI	0.08	0.05	0.16	0.05	0.09
Net GEX	230.3K	-470.7K	1.4M	962.5K	44.7K
Net DEX	36.1M	-64.7M	108.5M	-8.4M	33.1M
Net VEX	-573.3K	-966.0K	-383.8K	-966.0K	-467.6K
Div Yield	0.0%	0.0%	0.0%	0.0%	0.0%
P/C Ratio	0.93	0.35	1.58	0.74	0.63
Total Volume	2,675,615.476	678,025	8,404,475	1,881,375	1,897,000
Total OI	16,263,261.905	12,248,025	21,143,675	12,248,025	15,135,250

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
2022-11-01	$0.61	$1.00	167.9%	56.4%	115.4%	78.8%	198.6%	6.3%	-5.0%	962.5K	-8.4M	-966.0K	0.74	10.28	1,081,125	800,250	8,284,575	3,963,450
2022-11-02	$0.55	$1.00	170.0%	57.5%	118.4%	80.1%	201.0%	3.1%	-6.9%	603.9K	20.9M	-870.3K	0.35	7.68	1,679,325	582,525	8,784,325	4,350,975
2022-11-03	$0.57	$0.80	169.4%	45.7%	120.5%	79.7%	159.5%	1.1%	-4.8%	1.0M	183.4K	-916.5K	0.62	32.15	1,906,750	1,190,825	9,723,350	4,545,000
2022-11-04	$0.36	$0.80	163.4%	45.9%	199.3%	76.1%	166.3%	13.6%	-0.8%	-470.7K	108.5M	-428.8K	1.14	52.32	3,927,150	4,477,325	10,570,800	5,183,825
2022-11-07	$0.30	$0.80	172.4%	47.6%	205.1%	81.5%	169.2%	11.2%	-8.3%	-211.1K	72.2M	-383.8K	1.50	15.60	1,980,975	2,964,225	9,796,075	5,396,875
2022-11-08	$0.30	$0.60	170.4%	47.1%	204.5%	80.3%	168.1%	22.0%	-5.2%	-143.3K	70.9M	-406.9K	0.71	12.90	1,762,850	1,243,650	10,755,000	6,425,350
2022-11-09	$0.31	$0.60	166.5%	46.5%	204.2%	77.9%	167.1%	16.2%	-3.5%	148.6K	57.4M	-447.0K	0.55	64.74	1,194,700	652,075	11,590,425	6,800,500
2022-11-10	$0.40	$0.60	171.0%	48.8%	233.1%	80.6%	173.2%	16.5%	1.7%	756.9K	-4.6M	-632.2K	0.78	57.97	3,488,750	2,728,925	11,903,275	6,934,500
2022-11-11	$0.46	$0.60	159.7%	45.8%	240.0%	73.8%	169.7%	17.0%	-0.2%	1.4M	-64.7M	-795.4K	0.94	44.06	2,229,525	2,091,125	12,944,750	8,198,925
2022-11-14	$0.40	$0.60	169.4%	48.3%	242.2%	79.6%	173.8%	10.1%	-1.7%	226.9K	28.7M	-689.7K	1.01	37.84	1,137,925	1,148,300	9,923,000	7,107,750
2022-11-15	$0.39	$0.60	169.1%	48.5%	242.1%	79.4%	170.9%	14.5%	-5.1%	287.9K	29.7M	-677.2K	0.66	40.49	1,074,525	710,900	10,271,300	7,340,175
2022-11-16	$0.34	$0.60	175.7%	50.4%	235.8%	83.4%	174.7%	18.1%	-2.9%	-68.8K	62.3M	-561.6K	1.58	23.67	728,350	1,147,925	10,591,500	7,469,525
2022-11-17	$0.33	$0.60	174.2%	50.1%	235.8%	82.5%	174.7%	11.6%	-5.2%	-106.6K	67.4M	-527.9K	0.75	14.43	1,152,000	860,150	10,853,925	7,563,450
2022-11-18	$0.32	$0.60	172.4%	49.5%	235.7%	81.3%	175.0%	12.3%	1.1%	10.3K	69.4M	-502.6K	0.89	7.64	1,137,125	1,008,800	11,391,575	7,546,025
2022-11-21	$0.28	$0.60	174.8%	49.7%	237.1%	82.7%	180.9%	14.9%	-5.0%	45.5K	43.6M	-436.0K	1.14	15.32	927,800	1,059,100	8,659,850	5,658,075
2022-11-22	$0.27	$0.60	167.8%	46.5%	230.0%	78.3%	170.9%	11.5%	-2.8%	-44.2K	48.9M	-414.1K	1.16	17.31	701,450	815,450	9,034,025	5,979,225
2022-11-23	$0.33	$0.60	160.0%	45.5%	242.7%	73.5%	164.1%	10.8%	-3.6%	321.6K	25.7M	-514.2K	1.00	13.01	1,219,525	1,223,525	9,258,575	6,175,875
2022-11-25	$0.33	$0.60	159.8%	44.8%	243.2%	73.2%	161.0%	17.4%	-1.2%	93.4K	20.2M	-507.9K	1.19	12.15	360,775	428,500	9,604,800	6,439,550
2022-11-28	$0.30	$0.60	159.1%	45.2%	244.5%	72.8%	162.3%	19.2%	-1.3%	1.3K	37.5M	-453.7K	1.33	11.49	338,525	450,175	8,709,375	5,815,500
2022-11-29	$0.30	$0.60	157.9%	44.9%	244.6%	72.1%	166.6%	14.6%	-4.2%	-22.2K	39.1M	-439.8K	0.92	13.68	353,175	324,850	8,851,675	5,996,525
2022-11-30	$0.31	$0.60	164.7%	47.7%	241.0%	75.8%	170.8%	25.9%	-2.2%	44.7K	33.1M	-467.6K	0.63	8.62	1,161,925	735,075	9,009,100	6,126,150