CVNA Options History — May 2023

In May 2023, CVNA traded between $0.28 and $0.56. ATM implied volatility averaged 139.8%, placing in the 17.6% IV rank vs the trailing year. The 30-day expected move averaged 41.0%. IV traded above realized volatility by 2.1% (HV 20d: 137.8%). Max pain ranged from $0.32 to $0.48. Net GEX was positive for 17 of 22 trading days. Term structure was in contango for 8 of 22 days. Put/call ratio averaged 0.56.

Notable Days

  • 2023-05-05: Highest Volume — 7,906,550 contracts
  • 2023-05-11: Largest IV drop — 11.9% change
  • 2023-05-08: Highest IV Rank — 32.1%
  • 2023-05-03: Largest Expected Move — 46.9%

Monthly Statistics

MetricAvgMinMaxOpenClose
Price$0.43$0.28$0.56$0.28$0.52
Max Pain$0.40$0.32$0.48$0.40$0.48
ATM IV139.8%124.5%162.6%143.1%143.3%
Expected Move41.0%35.8%46.9%44.2%43.1%
HV 20d137.8%69.4%168.2%74.9%168.2%
HV 60d130.1%122.0%138.5%122.6%128.9%
IV Rank17.6%7.8%32.1%19.7%19.8%
IV Percentile26.0%7.9%59.5%26.2%29.0%
Term Structure-1.4%-5.2%2.4%-1.2%-5.2%
VWIV146.9%127.5%165.5%160.8%155.0%
Skew 25d1.1%-10.9%14.3%14.3%2.7%
Skew 10d4.1%-5.4%23.7%23.7%4.5%
Call IV 25d142.5%128.0%171.2%135.0%143.0%
Put IV 25d143.6%130.2%162.7%149.3%145.6%
Bid-Ask Spread %6.423.1713.624.183.97
Gamma HHI0.090.050.270.110.09
Net GEX619.0K-309.4K1.8M-309.4K1.3M
Net DEX-54.9M-177.8M22.7M22.7M-82.6M
Net VEX-564.5K-683.7K-366.4K-366.4K-677.2K
Div Yield0.0%0.0%0.0%0.0%0.0%
P/C Ratio0.560.211.380.420.34
Total Volume2,868,748.864775,9007,906,5501,046,4502,153,450
Total OI14,012,196.59110,778,22517,951,82510,778,22512,767,750

Daily Data (22 trading days)

DatePriceMax PainATM IVExp MoveHV 20dIV RankVWIVSkew 25dTerm StrGEXDEXVEXP/CSpread %Call VolPut VolCall OIPut OI
2023-05-01$0.28$0.40143.1%44.2%74.9%19.7%160.8%14.3%-1.2%-309.4K22.7M-366.4K0.424.18735,950310,5004,874,2005,904,025
2023-05-02$0.29$0.40148.7%46.5%76.7%23.2%164.5%6.4%-1.4%-210.2K16.5M-384.9K0.773.401,430,6501,097,4755,120,5256,011,625
2023-05-03$0.28$0.32146.6%46.9%76.5%21.9%165.1%4.1%-2.5%-59.0K9.9M-418.5K0.843.95421,725354,1756,200,8006,775,825
2023-05-04$0.28$0.40151.9%42.7%69.4%25.3%159.2%2.0%-3.5%-6.8K8.2M-419.9K1.387.28747,8251,033,0506,422,4256,947,525
2023-05-05$0.36$0.40150.7%43.6%109.4%24.5%155.1%-3.6%0.7%1.2M-52.0M-500.8K0.7311.674,561,7253,344,8256,753,1257,541,250
2023-05-08$0.46$0.40162.6%45.5%139.3%32.1%162.8%-6.0%-0.6%487.2K-92.1M-571.8K0.4812.134,660,7502,244,0756,271,0257,236,100
2023-05-09$0.47$0.40162.4%45.9%138.5%31.9%163.1%-8.4%-3.6%1.1M-116.6M-615.0K0.4313.624,625,2002,001,3257,628,5757,960,675
2023-05-10$0.53$0.40155.0%44.0%141.1%27.2%155.9%-10.9%-4.3%1.8M-177.8M-682.0K0.739.072,603,9501,894,0008,530,0258,678,325
2023-05-11$0.48$0.40136.5%39.1%146.8%15.5%138.1%-3.3%0.3%809.8K-101.4M-635.9K0.616.811,741,5751,059,1508,668,8509,104,325
2023-05-12$0.42$0.40129.0%36.7%153.6%10.7%130.6%0.1%-4.0%-158.1K-33.3M-561.5K0.594.031,969,7001,167,3758,725,6759,226,150
2023-05-15$0.46$0.40133.3%38.2%155.3%13.4%139.5%2.7%0.0%458.7K-60.7M-592.8K0.344.681,586,900543,2506,931,7257,852,050
2023-05-16$0.43$0.40130.8%37.6%156.7%11.9%133.4%2.7%-3.2%277.7K-45.7M-574.0K0.584.80711,425410,4507,357,0257,978,175
2023-05-17$0.47$0.40127.2%36.5%158.1%9.6%132.7%1.5%-0.4%912.1K-77.8M-600.9K0.635.92929,575584,5757,542,3008,092,475
2023-05-18$0.48$0.40124.5%35.8%154.0%7.8%127.5%2.2%-3.1%1.3M-88.1M-599.0K0.404.301,213,025485,7757,662,2008,213,750
2023-05-19$0.43$0.40128.1%36.9%160.7%10.1%132.9%3.4%-1.9%261.5K-32.5M-540.4K0.964.621,161,6251,112,1007,476,1758,321,200
2023-05-22$0.46$0.40129.0%37.9%161.5%10.7%134.6%2.4%2.4%417.8K-34.7M-579.4K0.426.261,297,675549,0005,643,8005,617,825
2023-05-23$0.48$0.40132.5%38.5%155.7%13.0%141.4%0.3%1.3%800.4K-54.8M-622.5K0.248.003,192,575770,6755,990,6755,925,200
2023-05-24$0.46$0.40133.7%39.3%157.3%13.7%140.9%2.6%0.8%620.8K-39.7M-611.6K0.586.87995,100578,3256,529,8506,179,100
2023-05-25$0.44$0.40132.5%38.9%158.2%12.9%137.2%3.4%1.4%406.4K-29.2M-582.4K0.327.181,046,825338,8006,718,3256,211,675
2023-05-26$0.47$0.40129.7%38.1%155.0%11.2%135.4%3.0%1.8%1.2M-46.8M-597.8K0.413.171,063,575437,5756,858,5256,270,250
2023-05-30$0.56$0.40144.8%45.9%164.2%20.8%165.5%2.4%-5.0%1.0M-98.5M-683.7K0.215.393,263,850681,3505,997,8505,549,375
2023-05-31$0.52$0.48143.3%43.1%168.2%19.8%155.0%2.7%-5.2%1.3M-82.6M-677.2K0.343.971,610,150543,3006,884,2005,883,550