CVNA Options History — March 2024

In March 2024, CVNA traded between $3.05 and $3.66. ATM implied volatility averaged 82.0%, placing in the 2.3% IV rank vs the trailing year. The 30-day expected move averaged 23.5%. IV traded below realized volatility by 38.5% (HV 20d: 120.6%). Max pain ranged from $2.16 to $3.00. Net GEX was positive for 19 of 20 trading days. Term structure was in contango for 13 of 20 days. Put/call ratio averaged 0.78.

Notable Days

  • 2024-03-08: Highest Volume — 6,022,750 contracts
  • 2024-03-05: Largest IV drop — 9.9% change
  • 2024-03-04: Highest IV Rank — 9.7%
  • 2024-03-04: Largest Expected Move — 26.9%

Monthly Statistics

MetricAvgMinMaxOpenClose
Price$3.30$3.05$3.66$3.29$3.51
Max Pain$2.78$2.16$3.00$2.16$3.00
ATM IV82.0%74.1%94.8%89.6%78.1%
Expected Move23.5%20.8%26.9%26.5%20.8%
HV 20d120.6%71.1%139.6%131.7%71.8%
HV 60d99.2%94.3%104.4%102.7%94.3%
IV Rank2.3%0.0%9.7%5.2%3.2%
IV Percentile3.2%0.0%17.9%9.1%1.6%
Term Structure4.9%-2.1%26.2%-2.1%25.9%
VWIV84.1%75.0%98.8%98.8%75.1%
Skew 25d-2.9%-7.5%2.9%-5.4%-1.4%
Skew 10d-5.5%-9.0%-2.1%-7.7%-5.4%
Call IV 25d85.2%75.5%101.3%96.6%75.5%
Put IV 25d82.2%74.2%93.8%91.2%74.2%
Bid-Ask Spread %9.853.4517.6013.0214.73
Gamma HHI0.110.070.140.140.07
Net GEX10.7M-2.3M23.0M19.7M259.8K
Net DEX-1.24B-1.89B-734.4M-1.89B-884.7M
Net VEX-3.0M-3.6M-2.6M-2.9M-3.6M
Div Yield0.0%0.0%0.0%0.0%0.0%
P/C Ratio0.780.441.390.480.75
Total Volume2,316,210896,5756,022,7503,876,1501,490,600
Total OI14,777,52011,331,55017,120,30017,120,30014,787,400

Daily Data (20 trading days)

DatePriceMax PainATM IVExp MoveHV 20dIV RankVWIVSkew 25dTerm StrGEXDEXVEXP/CSpread %Call VolPut VolCall OIPut OI
2024-03-01$3.29$2.1689.6%26.5%131.7%5.2%98.8%-5.4%-2.1%19.7M-1.89B-2.9M0.4813.022,620,1501,256,0008,794,0258,326,275
2024-03-04$3.29$2.4094.8%26.9%132.1%9.7%97.1%-7.5%-2.1%12.7M-1.61B-3.0M1.317.24884,1501,161,3507,809,0507,235,800
2024-03-05$3.10$2.8085.4%25.1%136.0%1.6%89.6%-7.0%-0.9%11.4M-1.29B-3.0M0.725.95892,950644,8007,956,8007,317,725
2024-03-06$3.12$2.8086.4%24.9%134.4%2.5%88.4%-5.1%1.3%11.9M-1.35B-2.9M0.819.79496,850401,3008,011,0757,379,750
2024-03-07$3.21$2.8088.6%25.5%134.3%4.3%93.3%-4.1%-0.8%13.1M-1.49B-2.8M0.798.661,229,725966,8508,048,6257,451,375
2024-03-08$3.42$2.8086.2%24.7%133.8%2.3%88.2%-3.5%0.4%23.0M-1.88B-2.7M0.6512.043,648,2252,374,5258,295,8007,480,900
2024-03-11$3.14$2.8084.8%24.1%139.4%1.1%87.1%-0.5%-1.0%12.4M-1.35B-2.7M0.667.171,546,6501,019,2757,961,0007,270,100
2024-03-12$3.08$2.8082.9%23.4%139.6%0.0%85.8%2.9%-0.2%11.2M-1.29B-2.8M0.5017.601,235,000613,2258,416,0507,434,850
2024-03-13$3.17$2.8078.8%22.8%136.2%0.0%81.2%-3.7%0.9%12.4M-1.47B-2.8M0.5515.94850,225471,7008,869,2257,541,350
2024-03-14$3.05$2.8078.9%22.8%137.4%0.1%80.9%-2.9%1.7%9.8M-1.28B-2.7M1.3915.10455,025632,7008,873,9007,578,925
2024-03-15$3.17$2.8080.0%23.0%136.8%0.9%82.9%-2.7%0.7%7.8M-1.49B-2.7M0.448.703,091,8001,360,4258,906,2757,727,675
2024-03-18$3.24$2.8080.9%23.2%130.3%1.7%83.2%-0.9%-0.7%8.5M-849.9M-2.7M0.696.54841,575581,0005,680,2755,651,275
2024-03-19$3.15$2.8077.3%22.1%131.0%0.0%78.5%-0.2%1.3%6.1M-734.4M-2.6M1.207.77407,300489,2755,808,1505,855,025
2024-03-20$3.39$2.8078.6%22.5%129.7%1.0%79.8%-3.1%0.7%10.0M-884.1M-3.5M0.664.571,842,8751,221,4756,097,3507,199,700
2024-03-21$3.54$2.8077.9%22.3%129.0%0.5%78.7%-3.2%1.2%13.0M-1.07B-3.6M0.818.771,123,125912,4006,304,0257,606,150
2024-03-22$3.43$2.8074.1%21.2%90.2%0.0%75.0%-2.4%1.5%13.8M-867.8M-3.5M0.493.451,119,750552,1256,355,2007,853,900
2024-03-25$3.53$2.8080.4%22.9%90.4%5.0%80.5%-3.8%23.1%9.3M-963.6M-3.5M1.088.801,157,5001,255,1505,712,1007,301,175
2024-03-26$3.66$3.0081.0%23.2%76.4%5.5%82.5%-1.0%21.4%8.9M-1.13B-3.6M0.6911.882,018,8001,396,1506,024,9007,863,425
2024-03-27$3.59$3.0076.1%21.6%71.1%1.6%76.1%-3.4%26.2%-2.3M-955.3M-3.6M0.899.241,092,600969,6006,408,4008,355,400
2024-03-28$3.51$3.0078.1%20.8%71.8%3.2%75.1%-1.4%25.9%259.8K-884.7M-3.6M0.7514.73852,150638,4506,559,9508,227,450