CVNA Options History — June 2023

In June 2023, CVNA traded between $0.59 and $1.13. ATM implied volatility averaged 141.2%, placing in the 18.5% IV rank vs the trailing year. The 30-day expected move averaged 40.0%. IV traded below realized volatility by 79.9% (HV 20d: 221.1%). Max pain ranged from $0.46 to $0.90. Net GEX was positive for 18 of 21 trading days. Term structure was in contango for 10 of 21 days. Put/call ratio averaged 0.79.

Notable Days

2023-06-09: Highest Volume — 23,025,275 contracts
2023-06-08: Largest IV spike — 46.7% change
2023-06-09: Highest IV Rank — 56.3%
2023-06-09: Largest Expected Move — 52.2%

Monthly Statistics

Metric	Avg	Min	Max	Open	Close
Price	$0.88	$0.59	$1.13	$0.65	$1.04
Max Pain	$0.75	$0.46	$0.90	$0.46	$0.90
ATM IV	141.2%	120.2%	200.7%	143.4%	133.1%
Expected Move	40.0%	35.0%	52.2%	44.5%	36.5%
HV 20d	221.1%	147.3%	246.1%	180.2%	236.1%
HV 60d	163.6%	132.1%	177.9%	136.0%	177.9%
IV Rank	18.5%	5.1%	56.3%	19.8%	13.3%
IV Percentile	28.7%	4.4%	89.7%	29.4%	19.8%
Term Structure	1.4%	-10.1%	20.1%	-5.0%	20.1%
VWIV	142.5%	124.6%	186.2%	157.0%	128.5%
Skew 25d	-4.8%	-12.4%	0.9%	-3.2%	-2.8%
Skew 10d	-3.3%	-19.5%	12.4%	1.8%	1.4%
Call IV 25d	147.1%	124.1%	214.1%	147.8%	131.8%
Put IV 25d	142.3%	120.6%	207.6%	144.6%	129.1%
Bid-Ask Spread %	5.75	3.24	8.00	4.84	3.24
Gamma HHI	0.10	0.04	0.42	0.10	0.17
Net GEX	2.0M	-1.1M	5.9M	2.2M	3.6M
Net DEX	-247.7M	-488.4M	-104.0M	-195.7M	-265.4M
Net VEX	-1.1M	-1.4M	-747.8K	-807.5K	-1.3M
Div Yield	0.0%	0.0%	0.0%	0.0%	0.0%
P/C Ratio	0.79	0.30	1.80	0.36	1.07
Total Volume	5,870,178.571	1,594,175	23,025,275	7,229,000	4,814,275
Total OI	17,107,590.476	12,782,925	26,073,800	13,028,350	17,069,850

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
2023-06-01	$0.65	$0.46	143.4%	44.5%	180.2%	19.8%	157.0%	-3.2%	-5.0%	2.2M	-195.7M	-807.5K	0.36	4.84	5,310,675	1,918,325	7,024,050	6,004,300
2023-06-02	$0.64	$0.50	138.9%	41.8%	181.1%	17.0%	152.4%	-6.7%	-3.5%	3.0M	-175.9M	-814.2K	0.62	8.00	2,605,925	1,621,200	7,740,600	6,672,400
2023-06-05	$0.61	$0.50	131.6%	37.7%	167.7%	12.4%	133.0%	-2.7%	0.7%	1.5M	-122.6M	-772.6K	0.64	7.78	969,850	624,325	6,804,050	5,978,875
2023-06-06	$0.59	$0.50	126.5%	36.7%	147.3%	9.1%	129.4%	-4.5%	1.5%	1.3M	-104.0M	-747.8K	0.47	6.83	1,543,500	731,600	6,969,475	6,191,425
2023-06-07	$0.62	$0.50	120.2%	35.1%	147.8%	5.1%	124.9%	-4.1%	2.4%	2.3M	-143.6M	-783.7K	0.30	5.38	1,691,600	511,625	7,471,300	6,307,400
2023-06-08	$1.00	$0.50	176.3%	46.6%	221.2%	40.8%	161.9%	-12.4%	-8.7%	2.2M	-480.0M	-1.0M	0.51	7.33	12,264,925	6,289,000	7,502,150	6,405,625
2023-06-09	$0.77	$0.80	200.7%	52.2%	242.0%	56.3%	186.2%	-6.5%	-10.1%	-1.0M	-166.8M	-1.2M	1.80	4.90	8,209,125	14,816,150	9,525,250	9,141,075
2023-06-12	$0.85	$0.80	173.7%	47.5%	237.4%	39.1%	171.0%	-8.3%	-6.4%	-733.0K	-206.2M	-1.3M	1.03	4.91	3,067,800	3,172,000	8,658,000	13,333,100
2023-06-13	$0.94	$0.80	153.7%	43.1%	238.2%	26.4%	152.9%	-6.6%	-3.1%	1.2M	-336.9M	-1.3M	0.96	6.03	2,488,700	2,399,775	9,457,800	14,197,175
2023-06-14	$0.93	$0.80	145.5%	40.5%	236.5%	21.2%	145.4%	-3.5%	-6.5%	1.2M	-319.7M	-1.3M	1.29	7.45	1,463,300	1,884,800	9,625,675	14,736,375
2023-06-15	$1.05	$0.80	150.7%	42.4%	237.9%	24.5%	150.6%	-9.3%	-3.1%	3.3M	-488.4M	-1.3M	0.55	4.26	4,794,975	2,618,900	9,641,050	15,003,475
2023-06-16	$1.00	$0.80	137.4%	39.1%	240.0%	16.1%	138.6%	-9.0%	-2.0%	5.9M	-395.8M	-1.3M	0.80	4.44	3,805,950	3,057,650	10,260,925	15,812,875
2023-06-20	$0.95	$0.80	136.5%	39.1%	236.3%	15.4%	139.3%	-6.1%	-0.6%	2.1M	-220.2M	-1.2M	0.69	5.50	2,111,500	1,462,625	7,132,675	7,902,650
2023-06-21	$0.98	$0.80	131.6%	37.7%	236.1%	12.3%	133.9%	-2.6%	-0.6%	2.9M	-246.5M	-1.3M	0.68	5.54	1,536,100	1,040,175	7,610,025	8,212,300
2023-06-22	$1.01	$0.90	125.8%	36.1%	236.1%	8.7%	127.9%	-1.7%	0.5%	4.0M	-274.2M	-1.3M	0.56	3.82	1,955,575	1,098,900	7,742,200	8,278,150
2023-06-23	$0.88	$0.90	124.6%	35.6%	243.1%	7.9%	128.3%	-3.8%	0.8%	-1.1M	-112.6M	-1.2M	1.09	5.35	2,374,700	2,585,150	7,888,000	8,545,950
2023-06-26	$0.85	$0.90	122.0%	35.0%	243.0%	6.3%	126.0%	-0.8%	13.2%	371.3K	-118.3M	-1.1M	0.88	7.69	1,023,200	901,900	6,674,025	6,717,275
2023-06-27	$0.97	$0.90	123.1%	35.1%	246.0%	6.9%	124.6%	0.9%	14.4%	2.0M	-226.3M	-1.2M	0.84	5.03	1,320,525	1,105,000	6,892,925	7,022,850
2023-06-28	$1.13	$0.90	137.0%	40.7%	243.6%	15.8%	145.7%	-4.2%	7.2%	3.5M	-374.3M	-1.4M	0.74	5.99	3,731,150	2,744,750	7,087,050	7,371,675
2023-06-29	$1.01	$0.90	133.3%	38.0%	246.1%	13.4%	134.4%	-3.3%	18.1%	1.2M	-228.7M	-1.3M	0.73	6.40	3,237,175	2,369,375	7,940,875	8,706,500
2023-06-30	$1.04	$0.90	133.1%	36.5%	236.1%	13.3%	128.5%	-2.8%	20.1%	3.6M	-265.4M	-1.3M	1.07	3.24	2,328,775	2,485,500	8,137,350	8,932,500