CVNA Options History — March 2023

In March 2023, CVNA traded between $0.27 and $0.40. ATM implied volatility averaged 155.0%, placing in the 41.3% IV rank vs the trailing year. The 30-day expected move averaged 44.5%. IV traded above realized volatility by 9.6% (HV 20d: 145.4%). Max pain ranged from $0.40 to $0.40. Net GEX was positive for 12 of 23 trading days. Term structure was in contango for 19 of 23 days. Put/call ratio averaged 0.76.

Notable Days

  • 2023-03-22: Highest Volume — 3,216,600 contracts
  • 2023-03-22: Largest IV spike — 12.4% change
  • 2023-03-22: Highest IV Rank — 47.2%
  • 2023-03-22: Largest Expected Move — 47.7%

Monthly Statistics

MetricAvgMinMaxOpenClose
Price$0.33$0.27$0.40$0.36$0.38
Max Pain$0.40$0.40$0.40$0.40$0.40
ATM IV155.0%143.6%166.3%166.2%150.1%
Expected Move44.5%41.6%47.7%47.0%41.7%
HV 20d145.4%117.8%189.4%189.4%126.2%
HV 60d180.1%170.0%210.9%210.5%173.9%
IV Rank41.3%35.6%47.2%47.1%36.4%
IV Percentile54.0%40.5%70.2%70.2%44.4%
Term Structure4.6%-2.4%16.0%-1.9%16.0%
VWIV157.6%146.0%168.0%166.6%150.3%
Skew 25d1.3%-10.7%11.4%-8.1%7.7%
Skew 10d5.3%-18.0%27.4%-18.0%27.4%
Call IV 25d157.0%141.7%173.1%173.1%141.7%
Put IV 25d158.3%146.0%169.3%165.0%149.4%
Bid-Ask Spread %8.476.4613.5212.968.57
Gamma HHI0.110.060.640.100.17
Net GEX264.2K-258.7K3.3M729.1K659.5K
Net DEX3.1M-57.2M38.4M-21.2M-27.4M
Net VEX-499.1K-623.2K-409.0K-601.6K-523.7K
Div Yield0.0%0.0%0.0%0.0%0.0%
P/C Ratio0.760.381.470.830.78
Total Volume1,200,369.565507,2253,216,600798,2751,688,475
Total OI14,497,590.21711,392,80017,573,17517,400,57513,076,100

Daily Data (23 trading days)

DatePriceMax PainATM IVExp MoveHV 20dIV RankVWIVSkew 25dTerm StrGEXDEXVEXP/CSpread %Call VolPut VolCall OIPut OI
2023-03-01$0.36$0.40166.2%47.0%189.4%47.1%166.6%-8.1%-1.9%729.1K-21.2M-601.6K0.8312.96435,575362,7009,500,1757,900,400
2023-03-02$0.38$0.40160.1%46.3%156.0%44.0%162.9%-1.4%-2.1%1.2M-38.8M-619.2K0.798.98537,250424,7509,535,4257,976,950
2023-03-03$0.40$0.40153.2%42.0%157.5%40.5%146.0%-5.9%5.4%3.3M-57.2M-623.2K0.576.461,199,200681,4509,609,8257,963,350
2023-03-06$0.37$0.40144.8%42.5%158.3%36.2%150.9%-10.7%2.5%216.4K-9.6M-571.1K0.669.77683,600453,6757,879,1757,484,550
2023-03-07$0.36$0.40145.6%43.2%157.6%36.6%154.2%-8.8%6.2%213.6K-7.4M-566.1K0.388.89708,200265,8758,153,5007,579,425
2023-03-08$0.36$0.40143.6%43.0%157.7%35.6%151.2%-0.7%1.3%304.6K-3.7M-547.1K0.587.16470,600273,0258,324,2257,695,350
2023-03-09$0.33$0.40149.2%43.6%155.2%38.4%153.1%-1.5%1.9%127.8K10.2M-518.9K0.617.84832,100504,0758,469,4007,798,800
2023-03-10$0.29$0.40157.6%44.6%151.2%42.7%162.6%0.1%3.5%-254.3K38.4M-458.1K0.996.81899,675886,2508,845,2507,932,800
2023-03-13$0.30$0.40158.5%46.1%150.7%43.2%167.3%11.4%2.2%-225.7K23.8M-456.4K0.817.54606,325490,1257,542,6007,378,100
2023-03-14$0.27$0.40157.5%45.1%154.0%42.7%160.1%0.9%-2.4%-258.7K35.8M-409.0K0.786.55370,475289,5757,742,4757,475,950
2023-03-15$0.28$0.40156.6%46.8%155.9%42.2%161.1%6.5%5.1%-258.6K32.7M-424.0K1.476.70439,700647,1257,776,2257,523,200
2023-03-16$0.30$0.40154.9%45.3%145.8%41.3%160.5%7.3%4.8%-208.4K26.5M-454.3K0.779.38441,225340,7757,863,4007,757,275
2023-03-17$0.31$0.40149.0%43.6%140.9%38.3%155.9%9.0%3.2%-13.3K20.1M-448.2K0.746.60671,725498,8757,883,3757,859,375
2023-03-20$0.28$0.40151.7%43.8%141.7%39.7%155.0%6.1%14.1%-68.9K16.5M-418.7K0.766.55440,725332,8005,666,5505,726,250
2023-03-21$0.32$0.40147.9%42.6%144.9%37.8%151.7%-2.3%1.4%101.9K3.3M-471.2K0.449.40785,900342,0505,833,2505,922,075
2023-03-22$0.34$0.40166.3%47.7%148.1%47.2%168.0%-5.7%-2.3%275.7K-12.1M-513.1K0.7813.521,807,1001,409,5006,092,2006,029,150
2023-03-23$0.33$0.40163.5%46.7%148.4%45.7%162.2%7.1%1.0%215.5K95.0K-505.8K0.888.18851,650746,3006,656,3506,459,575
2023-03-24$0.33$0.40161.5%45.8%124.7%44.8%162.6%2.5%5.4%-18.5K4.1M-498.0K0.8310.17446,975369,0756,665,7006,633,925
2023-03-27$0.31$0.40164.1%46.6%121.7%46.1%166.4%0.5%8.0%-93.9K12.3M-465.1K1.077.42391,000418,5005,854,4256,075,075
2023-03-28$0.30$0.40162.0%45.3%117.8%45.0%160.5%3.1%6.0%-146.6K18.1M-447.5K0.727.31294,150213,0756,019,1756,228,325
2023-03-29$0.31$0.40148.7%41.6%118.6%38.2%148.7%4.6%10.3%-8.8K13.9M-453.3K0.6010.12455,975275,0006,143,9756,303,825
2023-03-30$0.35$0.40152.7%42.1%122.9%40.2%147.4%8.1%15.1%311.0K-6.4M-485.3K0.577.911,230,075696,2506,255,3006,352,775
2023-03-31$0.38$0.40150.1%41.7%126.2%36.4%150.3%7.7%16.0%659.5K-27.4M-523.7K0.788.57950,950737,5256,500,2256,575,875