CVNA Options History — December 2022

In December 2022, CVNA traded between $0.15 and $0.33. ATM implied volatility averaged 186.4%, placing in the 79.7% IV rank vs the trailing year. The 30-day expected move averaged 53.1%. IV traded below realized volatility by 48.8% (HV 20d: 235.2%). Max pain ranged from $0.40 to $0.60. Net GEX was positive for 14 of 21 trading days. Term structure was in contango for 12 of 21 days. Put/call ratio averaged 0.80.

Notable Days

2022-12-07: Highest Volume — 9,267,700 contracts
2022-12-07: Largest IV spike — 34.0% change
2022-12-07: Highest IV Rank — 100.0%
2022-12-07: Largest Expected Move — 61.2%

Monthly Statistics

Metric	Avg	Min	Max	Open	Close
Price	$0.20	$0.15	$0.33	$0.33	$0.19
Max Pain	$0.43	$0.40	$0.60	$0.50	$0.40
ATM IV	186.4%	150.6%	225.2%	160.1%	180.5%
Expected Move	53.1%	45.9%	61.2%	49.4%	51.0%
HV 20d	235.2%	171.1%	273.0%	242.0%	237.6%
HV 60d	197.5%	168.3%	206.2%	172.2%	203.9%
IV Rank	79.7%	66.8%	100.0%	72.7%	74.3%
IV Percentile	94.3%	74.2%	100.0%	85.3%	93.3%
Term Structure	-0.2%	-7.3%	9.8%	-4.0%	9.8%
VWIV	186.1%	162.4%	216.1%	178.7%	173.4%
Skew 25d	14.8%	2.9%	30.8%	2.9%	18.4%
Skew 10d	37.4%	5.9%	94.7%	7.6%	27.6%
Call IV 25d	181.9%	156.8%	213.2%	163.6%	175.3%
Put IV 25d	196.7%	161.8%	234.3%	166.5%	193.8%
Bid-Ask Spread %	20.91	4.05	62.59	14.22	4.05
Gamma HHI	0.14	0.07	0.67	0.07	0.09
Net GEX	305.2K	-85.6K	2.1M	548.0K	57.5K
Net DEX	23.9M	2.0M	52.4M	2.0M	9.9M
Net VEX	-369.6K	-558.7K	-235.7K	-558.7K	-352.4K
Div Yield	0.0%	0.0%	0.0%	0.0%	0.0%
P/C Ratio	0.80	0.22	2.25	0.35	0.81
Total Volume	2,311,614.286	616,925	9,267,700	3,165,675	884,450
Total OI	18,681,945.238	16,107,925	23,153,950	16,107,925	17,577,100

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
2022-12-01	$0.33	$0.50	160.1%	49.4%	242.0%	72.7%	178.7%	2.9%	-4.0%	548.0K	2.0M	-558.7K	0.35	14.22	2,339,875	825,800	9,872,500	6,235,425
2022-12-02	$0.32	$0.40	150.6%	46.3%	240.8%	66.8%	168.9%	5.1%	-4.9%	744.0K	10.9M	-539.5K	0.38	15.46	1,394,575	530,950	10,388,325	6,674,075
2022-12-05	$0.29	$0.60	157.7%	45.9%	180.1%	71.2%	162.4%	4.3%	2.2%	218.4K	32.7M	-473.4K	1.01	6.29	459,475	463,775	10,164,375	6,123,475
2022-12-06	$0.27	$0.60	168.1%	47.2%	171.1%	77.8%	170.1%	8.4%	-0.4%	-311	41.8M	-429.9K	0.24	6.55	1,947,925	470,725	10,236,425	6,334,675
2022-12-07	$0.16	$0.60	225.2%	61.2%	254.6%	100.0%	216.1%	30.8%	-5.5%	-85.6K	52.4M	-235.7K	1.17	4.40	4,276,775	4,990,925	11,577,225	6,388,200
2022-12-08	$0.20	$0.40	205.8%	57.0%	273.0%	89.3%	203.5%	15.4%	-5.1%	338.1K	24.6M	-357.9K	0.62	6.48	3,107,975	1,938,775	13,995,975	7,566,625
2022-12-09	$0.20	$0.40	214.7%	59.9%	250.4%	94.2%	180.6%	14.1%	2.3%	953.7K	17.6M	-387.8K	0.46	31.11	3,673,725	1,686,350	15,014,900	8,139,050
2022-12-12	$0.20	$0.40	197.7%	56.2%	241.4%	84.8%	202.3%	22.3%	-5.8%	179.3K	27.7M	-371.5K	0.68	62.59	885,075	601,275	12,621,900	7,323,500
2022-12-13	$0.20	$0.40	194.1%	55.1%	238.7%	82.6%	192.6%	19.8%	-4.9%	195.7K	32.9M	-350.8K	0.22	61.59	2,121,125	464,325	12,896,000	7,509,725
2022-12-14	$0.21	$0.40	197.5%	55.7%	241.2%	84.1%	191.0%	25.9%	0.6%	474.0K	17.0M	-401.9K	0.46	62.09	1,257,650	582,625	14,278,950	7,545,850
2022-12-15	$0.21	$0.40	189.2%	54.7%	238.9%	79.3%	199.7%	12.5%	0.4%	687.7K	11.1M	-428.3K	0.52	59.77	1,953,575	1,006,075	14,659,000	7,691,850
2022-12-16	$0.20	$0.40	188.6%	52.7%	239.5%	79.0%	188.0%	22.6%	-7.3%	2.1M	29.7M	-369.6K	1.50	59.75	560,150	842,800	14,438,550	7,716,600
2022-12-19	$0.17	$0.40	186.0%	53.0%	243.4%	77.5%	189.7%	4.8%	1.2%	-10.5K	27.1M	-314.6K	0.82	9.46	907,100	747,350	10,340,675	6,367,650
2022-12-20	$0.17	$0.40	190.3%	54.4%	241.7%	80.0%	190.5%	11.2%	3.2%	-8.7K	25.3M	-319.1K	1.04	5.34	396,150	411,400	10,905,000	6,647,925
2022-12-21	$0.17	$0.40	187.6%	53.8%	242.9%	78.4%	191.5%	16.9%	-1.4%	14.2K	22.9M	-338.5K	2.25	4.05	325,000	732,775	10,987,850	6,792,875
2022-12-22	$0.16	$0.40	181.4%	51.9%	231.2%	74.9%	183.3%	13.8%	4.2%	-47.7K	27.1M	-301.1K	1.03	5.36	1,041,900	1,069,850	11,112,100	6,870,275
2022-12-23	$0.16	$0.40	181.4%	51.5%	230.7%	74.9%	174.0%	16.0%	4.3%	-41.3K	24.7M	-313.6K	0.88	7.44	327,300	289,625	11,563,525	7,233,575
2022-12-27	$0.15	$0.40	192.9%	54.6%	230.1%	81.4%	192.7%	12.2%	3.2%	-18.7K	26.0M	-281.3K	0.84	4.98	403,175	338,075	9,746,875	6,845,450
2022-12-28	$0.16	$0.40	185.6%	52.2%	231.7%	77.3%	179.6%	18.8%	3.0%	22.4K	24.2M	-298.3K	0.83	4.07	464,925	385,250	9,975,575	6,933,800
2022-12-29	$0.18	$0.40	179.5%	50.3%	238.2%	73.7%	178.9%	14.4%	1.3%	132.8K	15.1M	-338.5K	0.74	4.18	824,125	613,150	10,049,150	6,978,275
2022-12-30	$0.19	$0.40	180.5%	51.0%	237.6%	74.3%	173.4%	18.4%	9.8%	57.5K	9.9M	-352.4K	0.81	4.05	487,525	396,925	10,410,350	7,166,750