CVNA Options History — February 2023

In February 2023, CVNA traded between $0.32 and $0.57. ATM implied volatility averaged 230.7%, placing in the 80.9% IV rank vs the trailing year. The 30-day expected move averaged 65.2%. IV traded above realized volatility by 28.3% (HV 20d: 202.4%). Max pain ranged from $0.30 to $0.40. Net GEX was positive for 18 of 19 trading days. Term structure was in contango for 1 of 19 days. Put/call ratio averaged 0.63.

Notable Days

  • 2023-02-02: Highest Volume — 11,195,025 contracts
  • 2023-02-24: Largest IV drop — 27.1% change
  • 2023-02-02: Highest IV Rank — 100.0%
  • 2023-02-23: Largest Expected Move — 74.4%

Monthly Statistics

MetricAvgMinMaxOpenClose
Price$0.46$0.32$0.57$0.54$0.38
Max Pain$0.39$0.30$0.40$0.30$0.40
ATM IV230.7%165.0%269.5%225.1%166.2%
Expected Move65.2%47.9%74.4%65.3%47.9%
HV 20d202.4%185.6%220.0%216.0%188.2%
HV 60d209.4%203.2%236.1%236.1%210.5%
IV Rank80.9%46.5%100.0%82.4%47.1%
IV Percentile93.4%69.4%100.0%99.2%70.2%
Term Structure-8.8%-16.0%1.3%-6.7%1.3%
VWIV231.2%171.2%266.3%235.0%171.2%
Skew 25d-9.7%-25.9%0.9%-6.6%-7.9%
Skew 10d-10.2%-55.0%8.8%8.8%-6.6%
Call IV 25d241.4%172.9%286.1%232.1%176.2%
Put IV 25d231.8%164.2%266.0%225.5%168.4%
Bid-Ask Spread %23.822.4752.6625.6720.09
Gamma HHI0.080.040.300.060.12
Net GEX651.7K-846.1K2.1M1.5M783.3K
Net DEX-117.9M-268.7M17.7M-268.7M-41.8M
Net VEX-774.9K-974.1K-551.1K-865.3K-639.4K
Div Yield0.0%0.0%0.0%0.0%0.0%
P/C Ratio0.630.331.260.550.34
Total Volume3,844,544.7371,665,95011,195,0257,946,3502,068,175
Total OI18,500,464.47413,809,35022,342,17518,747,72516,598,350

Daily Data (19 trading days)

DatePriceMax PainATM IVExp MoveHV 20dIV RankVWIVSkew 25dTerm StrGEXDEXVEXP/CSpread %Call VolPut VolCall OIPut OI
2023-02-01$0.54$0.30225.1%65.3%216.0%82.4%235.0%-6.6%-6.7%1.5M-268.7M-865.3K0.5525.675,129,0002,817,35010,038,8258,708,900
2023-02-02$0.55$0.30259.1%66.2%216.2%100.0%235.7%-14.1%-6.9%1.5M-262.5M-890.7K0.6652.056,756,8754,438,15010,644,8259,566,225
2023-02-03$0.57$0.40259.0%68.4%211.0%99.9%245.5%-15.1%-10.3%2.1M-262.6M-974.1K0.7645.333,783,1502,878,35011,422,05010,920,125
2023-02-06$0.54$0.40269.5%72.3%211.8%100.0%256.8%-20.1%-14.4%767.7K-185.2M-935.2K0.4452.662,220,025987,2259,681,8259,285,625
2023-02-07$0.53$0.40254.9%70.7%212.6%92.5%248.3%-7.6%-6.0%995.2K-181.2M-915.3K0.5817.331,387,700801,10010,374,6009,585,325
2023-02-08$0.57$0.40253.4%69.3%211.4%91.8%245.5%-8.0%-10.9%1.4M-223.5M-954.0K0.4335.793,430,2501,469,77510,553,4759,747,850
2023-02-09$0.48$0.40247.8%68.7%220.0%88.9%244.0%-9.8%-7.1%554.9K-115.4M-850.5K0.7919.711,877,5251,488,25011,054,10010,041,650
2023-02-10$0.44$0.40249.2%69.7%190.4%89.6%245.0%-10.6%-8.5%29.1K-70.1M-787.5K1.2616.451,336,5751,681,65011,129,27510,132,450
2023-02-13$0.44$0.40246.8%70.0%185.6%88.4%246.5%0.9%-14.7%388.9K-89.0M-760.6K0.6919.601,231,600851,4759,526,2758,749,225
2023-02-14$0.43$0.40238.0%68.0%186.0%83.9%236.8%-4.2%-16.0%484.5K-83.5M-732.2K0.3719.861,248,550462,80010,002,5008,964,800
2023-02-15$0.50$0.40229.1%65.7%189.3%79.3%230.9%-1.4%-9.5%1.0M-147.3M-796.9K0.4817.781,779,200847,35010,074,9509,015,000
2023-02-16$0.44$0.40224.7%64.8%193.2%77.0%230.3%-5.6%-9.3%461.9K-82.2M-721.0K0.5122.641,316,025670,70010,256,8759,139,075
2023-02-17$0.46$0.40223.1%64.5%193.3%76.3%228.3%-3.2%-6.1%334.5K-100.2M-740.8K0.3317.292,030,325674,25010,374,9759,215,525
2023-02-21$0.40$0.40225.9%64.7%200.3%77.7%230.3%-10.8%-13.7%218.7K-43.8M-668.9K0.6913.741,345,675926,3257,305,5006,503,850
2023-02-22$0.40$0.40230.0%69.0%198.5%79.8%242.1%-5.4%-8.5%200.0K-41.4M-667.0K0.5517.541,073,800592,1507,609,4756,946,575
2023-02-23$0.40$0.40240.5%74.4%197.5%85.1%266.3%-20.0%-9.1%266.6K-48.9M-683.8K0.8214.912,270,5501,861,8507,981,8007,234,675
2023-02-24$0.32$0.40175.3%49.9%215.9%51.8%180.5%-25.9%-11.2%-846.1K17.7M-551.1K1.162.473,144,4503,643,7759,177,8758,393,075
2023-02-27$0.35$0.40165.0%48.6%207.9%46.5%173.4%-8.7%-0.1%205.5K-10.5M-588.0K0.5121.721,676,675847,7008,033,2257,518,100
2023-02-28$0.38$0.40166.2%47.9%188.2%47.1%171.2%-7.9%1.3%783.3K-41.8M-639.4K0.3420.091,539,625528,5508,794,9257,803,425