CVNA Options History — July 2023

In July 2023, CVNA traded between $0.97 and $2.20. ATM implied volatility averaged 143.4%, placing in the 19.9% IV rank vs the trailing year. The 30-day expected move averaged 40.0%. IV traded below realized volatility by 39.3% (HV 20d: 182.6%). Max pain ranged from $0.70 to $1.32. Net GEX was positive for 19 of 20 trading days. Term structure was in contango for 3 of 20 days. Put/call ratio averaged 0.76.

Notable Days

  • 2023-07-19: Highest Volume — 16,318,775 contracts
  • 2023-07-24: Largest IV drop — 10.4% change
  • 2023-07-12: Highest IV Rank — 37.8%
  • 2023-07-18: Largest Expected Move — 47.6%

Monthly Statistics

MetricAvgMinMaxOpenClose
Price$1.56$0.97$2.20$1.04$1.82
Max Pain$0.99$0.70$1.32$0.90$1.32
ATM IV143.4%110.9%171.7%138.7%119.5%
Expected Move40.0%31.9%47.6%34.9%35.6%
HV 20d182.6%145.4%243.7%235.8%174.6%
HV 60d187.0%176.1%196.1%176.3%195.9%
IV Rank19.9%0.0%37.8%16.8%5.4%
IV Percentile35.1%0.0%74.2%26.2%5.6%
Term Structure-3.9%-9.4%2.3%1.4%-2.4%
VWIV141.5%112.9%168.0%125.5%126.1%
Skew 25d-0.8%-4.8%4.6%3.6%-3.0%
Skew 10d2.9%-6.6%13.8%7.4%-4.6%
Call IV 25d145.4%114.2%171.8%147.9%121.3%
Put IV 25d144.6%109.5%172.9%151.5%118.3%
Bid-Ask Spread %3.732.455.233.902.76
Gamma HHI0.080.040.280.060.08
Net GEX3.5M-3.4M9.6M2.2M4.2M
Net DEX-516.0M-1.38B-165.3M-231.5M-519.5M
Net VEX-2.0M-2.5M-1.2M-1.3M-2.5M
Div Yield0.0%0.0%0.0%0.0%0.0%
P/C Ratio0.760.481.050.860.61
Total Volume6,669,0201,421,45016,318,7751,421,4503,385,125
Total OI18,493,016.2514,151,75024,753,42514,151,75018,213,100

Daily Data (20 trading days)

DatePriceMax PainATM IVExp MoveHV 20dIV RankVWIVSkew 25dTerm StrGEXDEXVEXP/CSpread %Call VolPut VolCall OIPut OI
2023-07-03$1.04$0.90138.7%34.9%235.8%16.8%125.5%3.6%1.4%2.2M-231.5M-1.3M0.863.90765,325656,1256,831,8007,319,950
2023-07-05$1.05$0.90143.4%35.3%234.4%19.9%125.1%-2.4%2.3%2.4M-242.2M-1.3M0.714.331,124,150800,9006,957,6257,652,250
2023-07-06$0.97$0.70139.9%39.6%236.2%17.6%138.1%-0.4%2.0%777.6K-165.3M-1.2M1.052.891,093,4251,146,8007,170,7757,839,450
2023-07-07$1.18$0.70151.2%40.8%243.7%24.8%143.4%0.6%-6.7%6.0M-391.2M-1.4M0.742.584,358,3503,222,6757,198,8007,927,900
2023-07-10$1.37$0.80164.8%44.5%182.8%33.5%156.6%-0.9%-8.2%3.6M-509.1M-1.6M0.732.784,293,6003,143,5506,884,7757,837,875
2023-07-11$1.41$0.80162.1%44.6%148.5%31.7%156.0%-0.4%-5.9%4.3M-557.7M-1.7M0.643.224,042,1252,589,1007,487,0508,913,325
2023-07-12$1.59$0.80171.7%47.0%149.5%37.8%164.7%1.1%-8.0%6.4M-740.0M-1.8M0.664.008,394,3755,540,7258,039,3009,719,225
2023-07-13$1.53$0.90166.6%45.7%149.4%34.6%161.1%0.2%-8.8%3.7M-577.6M-1.9M0.844.735,406,0254,520,5508,981,77511,029,450
2023-07-14$1.50$0.90167.6%46.5%149.8%35.2%163.2%1.7%-8.8%3.9M-543.0M-1.9M0.654.235,337,1753,469,7009,567,57511,988,475
2023-07-17$1.47$0.90164.0%46.3%145.8%32.9%164.2%4.6%-5.3%4.0M-495.5M-1.9M0.702.452,048,4001,431,0258,011,1509,275,550
2023-07-18$1.60$0.90167.2%47.6%145.4%35.0%168.0%3.8%-6.2%6.5M-641.7M-2.0M0.593.943,748,1002,200,9758,578,8009,769,875
2023-07-19$2.20$0.90150.7%43.2%176.3%24.5%152.2%-1.8%-9.4%9.6M-1.38B-2.2M1.045.238,016,8258,301,9508,968,70010,415,300
2023-07-20$1.86$1.20140.7%40.6%191.8%18.1%144.2%-2.8%-4.2%3.2M-671.8M-2.4M1.003.476,113,3256,114,4259,259,57513,279,150
2023-07-21$1.81$1.20132.9%38.3%192.8%13.2%137.1%-4.8%-1.8%1.6M-606.8M-2.4M0.983.824,637,5254,527,52510,440,82514,312,600
2023-07-24$1.84$1.20119.1%34.5%181.9%4.4%123.4%-1.5%-1.1%2.7M-513.3M-2.4M0.863.241,875,8251,604,3257,785,40010,352,475
2023-07-25$1.76$1.20112.9%32.4%182.3%0.5%118.3%-2.3%-0.3%1.4M-434.9M-2.4M0.893.122,049,2251,818,7258,236,27510,737,325
2023-07-26$1.75$1.20120.3%35.0%178.6%5.2%123.2%-2.5%-3.0%1.1M-420.0M-2.5M0.754.011,775,0001,326,1008,798,22511,288,450
2023-07-27$1.59$1.20123.0%35.9%178.2%6.9%126.6%-4.1%-2.1%-3.4M-222.0M-2.4M0.504.703,501,5501,742,8509,214,42511,531,550
2023-07-28$1.77$1.20110.9%31.9%174.6%0.0%112.9%-4.7%-0.8%6.5M-458.0M-2.4M0.485.154,904,0752,352,85010,188,87511,855,325
2023-07-31$1.82$1.32119.5%35.6%174.6%5.4%126.1%-3.0%-2.4%4.2M-519.5M-2.5M0.612.762,101,2501,283,8758,275,1509,937,950