CVNA Options History — September 2023

In September 2023, CVNA traded between $1.59 and $2.23. ATM implied volatility averaged 97.0%, placing in the 4.2% IV rank vs the trailing year. The 30-day expected move averaged 27.6%. IV traded above realized volatility by 10.6% (HV 20d: 86.5%). Max pain ranged from $1.68 to $1.80. Net GEX was positive for 15 of 20 trading days. Term structure was in contango for 20 of 20 days. Put/call ratio averaged 0.92.

Notable Days

  • 2023-09-14: Highest Volume — 7,740,275 contracts
  • 2023-09-08: Largest IV drop — 7.3% change
  • 2023-09-29: Highest IV Rank — 8.7%
  • 2023-09-26: Largest Expected Move — 29.2%

Monthly Statistics

MetricAvgMinMaxOpenClose
Price$1.87$1.59$2.23$2.03$1.67
Max Pain$1.79$1.68$1.80$1.68$1.80
ATM IV97.0%88.0%103.8%95.0%103.8%
Expected Move27.6%24.7%29.2%24.7%27.5%
HV 20d86.5%78.7%99.5%82.4%79.5%
HV 60d132.9%123.7%175.5%175.5%123.7%
IV Rank4.2%0.0%8.7%0.0%8.7%
IV Percentile3.6%0.0%10.7%0.0%10.7%
Term Structure4.1%0.3%15.1%1.5%15.1%
VWIV98.7%88.8%104.3%88.8%103.7%
Skew 25d1.5%-0.9%3.8%0.5%3.8%
Skew 10d6.3%-0.6%13.7%4.8%13.7%
Call IV 25d97.4%88.0%105.0%94.8%99.3%
Put IV 25d99.0%89.9%106.6%95.3%103.1%
Bid-Ask Spread %3.862.358.003.493.02
Gamma HHI0.060.040.100.080.05
Net GEX3.9M-1.9M13.2M8.3M2.9M
Net DEX-423.3M-888.6M-134.8M-716.7M-236.0M
Net VEX-2.4M-2.7M-2.1M-2.5M-2.2M
Div Yield0.0%0.0%0.0%0.0%0.0%
P/C Ratio0.920.452.050.931.02
Total Volume2,737,636.251,170,1507,740,2753,294,0252,328,725
Total OI17,040,062.515,732,95019,435,95017,511,92518,139,025

Daily Data (20 trading days)

DatePriceMax PainATM IVExp MoveHV 20dIV RankVWIVSkew 25dTerm StrGEXDEXVEXP/CSpread %Call VolPut VolCall OIPut OI
2023-09-01$2.03$1.6895.0%24.7%82.4%0.0%88.8%0.5%1.5%8.3M-716.7M-2.5M0.933.491,706,2251,587,8008,252,4759,259,450
2023-09-05$1.99$1.8095.6%28.7%82.3%0.3%102.9%2.0%2.1%6.2M-560.5M-2.5M0.853.911,131,700960,1257,468,9258,366,400
2023-09-06$2.01$1.8094.7%27.8%82.0%0.0%97.9%2.0%0.7%7.3M-582.7M-2.5M0.925.33611,025559,1257,724,0258,630,975
2023-09-07$1.92$1.8094.9%27.8%81.7%0.1%98.1%1.4%1.2%3.5M-459.1M-2.4M1.015.78744,175752,7507,859,6508,809,825
2023-09-08$1.88$1.8088.0%26.0%78.7%0.0%92.7%1.9%1.6%1.4M-401.4M-2.3M0.703.391,513,8001,054,7507,919,4758,846,100
2023-09-11$2.04$1.8092.5%26.9%82.1%2.5%95.4%1.1%1.4%7.7M-596.9M-2.5M0.675.041,775,4251,183,9257,447,4008,285,550
2023-09-12$2.02$1.8093.6%27.0%82.3%3.1%94.9%1.0%0.3%8.6M-607.9M-2.5M0.558.001,551,375847,0007,887,2758,549,225
2023-09-13$1.97$1.8092.3%26.8%81.0%2.3%94.8%-0.9%1.2%7.0M-537.4M-2.6M0.732.98821,225597,1758,180,2508,961,450
2023-09-14$2.23$1.8097.3%28.0%88.4%5.1%99.8%-0.3%0.3%13.2M-888.6M-2.7M0.452.615,342,1502,398,1258,325,0758,995,550
2023-09-15$2.08$1.8095.5%27.6%92.8%4.1%97.4%-0.3%1.1%5.3M-617.0M-2.7M0.613.533,168,4501,934,1509,482,4259,953,525
2023-09-18$2.07$1.8096.5%27.7%91.6%4.7%99.1%0.2%2.0%7.0M-578.6M-2.6M0.502.351,897,675941,2007,814,2008,205,650
2023-09-19$1.90$1.8098.2%28.1%97.5%5.6%100.0%2.1%1.6%2.8M-395.2M-2.4M0.622.622,584,7251,602,8258,177,1008,555,950
2023-09-20$1.76$1.8097.7%28.0%99.5%5.3%99.2%2.5%1.7%561.0K-245.6M-2.3M0.805.441,176,200945,7258,637,5258,850,875
2023-09-21$1.72$1.8099.2%28.3%97.9%6.1%100.9%2.9%2.7%-916.7K-205.4M-2.3M1.192.771,098,2001,306,4008,803,1758,946,950
2023-09-22$1.70$1.8097.6%27.7%94.0%5.3%99.1%2.9%2.4%-1.9M-174.7M-2.2M0.873.071,131,350983,9758,858,4259,193,025
2023-09-25$1.60$1.80102.6%29.0%91.4%8.0%102.4%2.5%11.6%-532.6K-140.1M-2.1M1.533.20959,6751,465,7507,443,0508,518,300
2023-09-26$1.59$1.80102.6%29.2%82.4%8.0%104.3%1.6%10.4%-1.0M-134.8M-2.1M2.052.93562,0001,154,5007,782,7258,881,475
2023-09-27$1.63$1.80101.5%28.6%81.9%7.4%103.6%1.2%11.7%-341.1K-181.6M-2.2M1.223.82869,7251,061,4757,965,3259,158,425
2023-09-28$1.66$1.80101.7%27.3%80.2%7.5%98.5%2.7%11.0%1.0M-206.0M-2.2M1.273.991,077,5251,364,6008,259,6009,405,425
2023-09-29$1.67$1.80103.8%27.5%79.5%8.7%103.7%3.8%15.1%2.9M-236.0M-2.2M1.023.021,152,4001,176,3258,581,1009,557,925