CVNA Options History — December 2023

In December 2023, CVNA traded between $1.41 and $2.41. ATM implied volatility averaged 98.0%, placing in the 7.8% IV rank vs the trailing year. The 30-day expected move averaged 27.8%. IV traded below realized volatility by 1.5% (HV 20d: 99.5%). Max pain ranged from $1.20 to $1.48. Net GEX was positive for 19 of 20 trading days. Term structure was in contango for 9 of 20 days. Put/call ratio averaged 0.52.

Notable Days

  • 2023-12-14: Highest Volume — 6,949,500 contracts
  • 2023-12-14: Largest IV spike — 11.6% change
  • 2023-12-14: Highest IV Rank — 13.2%
  • 2023-12-20: Largest Expected Move — 30.6%

Monthly Statistics

MetricAvgMinMaxOpenClose
Price$1.91$1.41$2.41$1.41$2.12
Max Pain$1.30$1.20$1.48$1.30$1.48
ATM IV98.0%88.5%108.1%90.6%88.5%
Expected Move27.8%23.8%30.6%27.0%23.8%
HV 20d99.5%91.4%105.5%92.8%105.5%
HV 60d92.3%87.4%96.1%88.0%95.0%
IV Rank7.8%2.7%13.2%3.8%2.7%
IV Percentile13.9%2.8%25.4%4.4%2.8%
Term Structure0.2%-4.5%5.7%-0.5%4.3%
VWIV100.9%85.5%112.7%95.1%85.5%
Skew 25d-4.1%-7.8%-0.5%-1.8%-0.5%
Skew 10d-3.6%-12.6%4.5%1.4%-0.8%
Call IV 25d102.6%89.6%113.4%92.9%89.6%
Put IV 25d98.4%89.1%108.7%91.1%89.1%
Bid-Ask Spread %12.245.2330.5711.369.72
Gamma HHI0.090.060.230.140.11
Net GEX6.3M-3.8M12.1M6.6M3.9M
Net DEX-605.7M-1.07B-261.8M-261.8M-691.1M
Net VEX-2.0M-2.5M-1.4M-1.4M-2.5M
Div Yield0.0%0.0%0.0%0.0%0.0%
P/C Ratio0.520.320.900.430.59
Total Volume3,165,072.51,184,7006,949,5003,355,0002,563,125
Total OI19,224,832.516,208,25023,170,00017,066,72523,170,000

Daily Data (20 trading days)

DatePriceMax PainATM IVExp MoveHV 20dIV RankVWIVSkew 25dTerm StrGEXDEXVEXP/CSpread %Call VolPut VolCall OIPut OI
2023-12-01$1.41$1.3090.6%27.0%92.8%3.8%95.1%-1.8%-0.5%6.6M-261.8M-1.4M0.4311.362,341,7001,013,3008,179,7758,886,950
2023-12-04$1.61$1.20100.9%28.4%101.3%9.3%105.5%-4.5%0.3%5.3M-420.9M-1.6M0.7630.573,603,7752,724,7257,656,9508,551,300
2023-12-05$1.55$1.2098.4%28.1%102.2%8.0%101.3%-5.4%1.4%4.6M-335.2M-1.7M0.4213.971,690,600711,2508,286,3009,506,575
2023-12-06$1.49$1.2099.4%27.7%103.2%8.5%102.1%-4.6%0.0%4.1M-273.5M-1.7M0.4420.931,296,850573,1258,540,3259,492,575
2023-12-07$1.50$1.2097.2%27.7%103.1%7.3%101.5%-3.1%1.7%4.1M-271.3M-1.7M0.477.87805,625379,0758,636,3759,670,650
2023-12-08$1.61$1.2096.4%27.4%93.6%6.9%99.3%-5.1%4.5%10.6M-407.0M-1.7M0.369.312,166,175772,9758,734,8259,797,450
2023-12-11$1.60$1.2093.7%26.8%92.3%5.5%97.7%-5.4%-0.8%4.9M-340.2M-1.6M0.4011.76971,675384,9757,966,2759,020,125
2023-12-12$1.58$1.2094.6%26.6%92.7%6.0%97.1%-2.9%-3.1%4.9M-313.1M-1.6M0.325.231,216,125386,7508,115,8759,146,600
2023-12-13$1.80$1.2096.9%27.6%91.4%7.2%99.7%-4.5%-0.7%8.2M-574.3M-1.7M0.4111.891,815,825741,9758,350,9009,292,850
2023-12-14$2.03$1.20108.1%30.1%99.4%13.2%108.4%-4.4%-4.5%8.6M-857.3M-1.8M0.7210.734,044,2752,905,2258,417,3509,507,925
2023-12-15$2.04$1.3097.9%27.4%96.5%7.7%98.8%-4.7%-3.7%7.3M-812.9M-1.9M0.6310.891,701,4001,070,2508,810,60010,836,000
2023-12-18$2.20$1.30101.2%28.8%96.9%9.5%103.2%-5.1%0.2%7.5M-809.9M-2.0M0.867.091,432,4501,231,3757,831,2259,815,275
2023-12-19$2.41$1.40105.7%30.2%99.6%11.9%110.1%-7.8%-0.9%10.6M-1.07B-2.1M0.4712.503,700,1751,747,7508,334,12510,364,125
2023-12-20$2.24$1.40106.7%30.6%101.2%12.5%112.7%-7.0%-0.1%6.9M-829.2M-2.3M0.9022.682,428,5752,192,6259,175,25011,278,550
2023-12-21$2.29$1.40102.0%29.3%100.8%10.0%105.5%-4.5%-1.1%4.8M-839.2M-2.3M0.5110.041,566,800794,8009,488,17511,990,050
2023-12-22$2.21$1.40101.5%29.1%103.2%9.7%108.2%-4.8%-0.4%-3.8M-691.4M-2.2M0.429.713,473,9751,464,1759,910,60012,032,000
2023-12-26$2.13$1.4097.2%27.6%104.9%7.4%101.1%-2.8%-0.4%6.2M-713.0M-2.5M0.367.071,891,075679,85010,210,42510,645,650
2023-12-27$2.15$1.4092.4%26.0%105.0%4.8%95.2%-3.1%2.7%8.5M-764.8M-2.5M0.398.111,859,625730,32511,116,42510,888,325
2023-12-28$2.20$1.4091.2%25.5%104.9%4.1%90.4%-0.5%5.7%12.1M-833.9M-2.5M0.4713.371,516,975710,12511,721,02511,120,875
2023-12-29$2.12$1.4888.5%23.8%105.5%2.7%85.5%-0.5%4.3%3.9M-691.1M-2.5M0.599.721,615,950947,17511,908,60011,261,400