CVNA Options History — May 2024

In May 2024, CVNA traded between $3.49 and $4.95. ATM implied volatility averaged 69.7%, placing in the 2.5% IV rank vs the trailing year. The 30-day expected move averaged 20.1%. IV traded below realized volatility by 39.7% (HV 20d: 109.3%). Max pain ranged from $2.40 to $4.00. Net GEX was positive for 12 of 22 trading days. Term structure was in contango for 10 of 22 days. Put/call ratio averaged 1.05.

Notable Days

2024-05-02: Highest Volume — 10,274,300 contracts
2024-05-02: Largest IV drop — 25.6% change
2024-05-01: Highest IV Rank — 22.6%
2024-05-01: Largest Expected Move — 35.4%

Monthly Statistics

Metric	Avg	Min	Max	Open	Close
Price	$4.53	$3.49	$4.95	$3.49	$3.98
Max Pain	$3.80	$2.40	$4.00	$2.40	$4.00
ATM IV	69.7%	60.1%	102.7%	102.7%	63.7%
Expected Move	20.1%	17.0%	35.4%	35.4%	17.7%
HV 20d	109.3%	50.8%	120.2%	59.9%	50.8%
HV 60d	97.6%	82.7%	109.2%	94.1%	83.0%
IV Rank	2.5%	0.0%	22.6%	22.6%	2.5%
IV Percentile	2.8%	0.0%	43.3%	43.3%	1.2%
Term Structure	0.0%	-4.3%	5.9%	-4.3%	-0.9%
VWIV	71.8%	60.1%	131.6%	131.6%	62.3%
Skew 25d	1.9%	-0.3%	3.6%	3.2%	2.1%
Skew 10d	5.2%	2.0%	14.1%	14.1%	4.4%
Call IV 25d	68.7%	58.3%	101.8%	101.8%	63.3%
Put IV 25d	70.6%	60.5%	105.0%	105.0%	65.4%
Bid-Ask Spread %	15.10	7.53	32.05	12.67	22.53
Gamma HHI	0.09	0.05	0.43	0.08	0.11
Net GEX	1.1M	-26.1M	15.2M	6.0M	-769.9K
Net DEX	-956.0M	-1.99B	-144.8M	-923.9M	-144.8M
Net VEX	-3.9M	-4.2M	-2.8M	-3.4M	-3.6M
Div Yield	0.0%	0.0%	0.0%	0.0%	0.0%
P/C Ratio	1.05	0.42	2.85	0.57	1.68
Total Volume	2,105,757.955	707,125	10,274,300	3,744,025	1,254,825
Total OI	13,003,650	10,538,650	15,500,800	12,566,275	11,226,150

Daily Data (22 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
2024-05-01	$3.49	$2.40	102.7%	35.4%	59.9%	22.6%	131.6%	3.2%	-4.3%	6.0M	-923.9M	-3.4M	0.57	12.67	2,381,275	1,362,750	5,953,275	6,613,000
2024-05-02	$4.65	$2.80	76.4%	23.1%	117.1%	1.8%	82.4%	3.6%	0.1%	15.2M	-1.99B	-2.8M	0.89	18.16	5,447,500	4,826,800	5,648,675	7,326,925
2024-05-03	$4.82	$3.00	75.4%	22.6%	117.2%	1.1%	80.0%	3.2%	1.9%	-3.8M	-1.81B	-3.5M	1.03	32.05	2,269,800	2,331,050	5,922,100	9,578,700
2024-05-06	$4.95	$3.60	77.9%	21.5%	117.0%	3.0%	76.8%	-0.3%	-2.4%	8.6M	-1.58B	-4.0M	1.30	8.11	1,120,000	1,452,125	5,081,800	8,362,575
2024-05-07	$4.67	$3.80	77.3%	20.9%	120.2%	2.5%	74.9%	1.8%	-2.0%	1.0M	-1.19B	-4.1M	2.85	15.02	621,025	1,772,025	5,307,475	8,905,400
2024-05-08	$4.54	$4.00	67.5%	20.0%	119.3%	0.0%	70.8%	2.7%	5.9%	-7.0M	-967.4M	-4.2M	1.65	7.53	802,875	1,324,600	5,354,425	9,417,450
2024-05-09	$4.81	$4.00	70.5%	20.0%	120.1%	2.3%	70.3%	3.1%	1.3%	4.8M	-1.40B	-4.2M	0.64	9.20	1,406,375	901,075	5,532,050	9,461,400
2024-05-10	$4.69	$4.00	67.3%	19.0%	116.2%	0.0%	67.9%	2.0%	0.8%	-584.0K	-1.26B	-4.1M	1.42	10.28	559,900	794,300	5,877,625	9,534,150
2024-05-13	$4.71	$4.00	69.7%	19.7%	111.4%	1.8%	69.9%	3.0%	-2.0%	6.3M	-1.19B	-4.0M	0.72	14.27	779,600	562,200	4,928,600	8,686,625
2024-05-14	$4.82	$4.00	72.8%	20.5%	111.2%	4.1%	72.9%	2.9%	-1.8%	9.3M	-1.35B	-4.0M	0.96	14.57	675,725	649,100	5,182,675	8,874,975
2024-05-15	$4.80	$4.00	69.1%	19.3%	110.8%	1.4%	68.9%	1.6%	-1.7%	9.5M	-1.29B	-4.1M	0.91	12.99	642,525	581,800	5,375,175	9,149,350
2024-05-16	$4.73	$4.00	67.4%	18.9%	111.8%	0.0%	68.0%	1.0%	-1.7%	5.7M	-1.18B	-4.0M	0.63	12.67	1,501,525	951,325	5,414,325	9,287,075
2024-05-17	$4.67	$4.00	64.9%	18.2%	112.2%	0.0%	66.5%	2.2%	-2.1%	-2.8M	-1.08B	-4.0M	0.91	16.54	483,275	441,700	5,701,225	9,412,725
2024-05-20	$4.72	$4.00	64.6%	18.5%	112.0%	0.0%	65.3%	0.7%	3.0%	5.5M	-731.6M	-3.8M	0.65	10.14	496,550	322,525	3,791,800	6,746,850
2024-05-21	$4.63	$4.00	62.7%	17.9%	112.2%	0.0%	64.5%	1.2%	2.5%	3.5M	-640.1M	-3.9M	1.29	10.21	308,750	398,375	3,977,125	6,833,375
2024-05-22	$4.64	$4.00	64.7%	18.5%	111.9%	1.4%	65.4%	0.5%	1.1%	1.9M	-637.6M	-4.1M	0.42	15.59	574,525	243,025	4,053,475	7,712,975
2024-05-23	$4.37	$4.00	64.0%	18.2%	115.6%	0.9%	64.9%	1.1%	3.1%	-8.3M	-354.1M	-4.1M	1.20	15.43	470,500	564,450	4,124,525	7,757,375
2024-05-24	$4.40	$4.00	60.1%	17.0%	112.8%	0.0%	60.1%	2.2%	2.3%	-26.1M	-407.4M	-3.8M	0.63	16.75	984,375	620,525	4,185,700	7,064,550
2024-05-28	$4.16	$4.00	65.3%	18.4%	115.3%	3.6%	66.5%	1.3%	-0.2%	-1.5M	-280.3M	-3.7M	1.33	19.04	368,525	490,100	3,958,850	6,781,150
2024-05-29	$4.24	$4.00	65.6%	18.5%	115.1%	3.9%	65.4%	3.6%	-0.8%	-664.9K	-373.5M	-3.7M	0.89	20.23	804,275	714,825	4,028,275	6,881,200
2024-05-30	$4.09	$4.00	63.0%	18.0%	115.5%	2.0%	63.2%	-0.2%	-1.8%	-1.9M	-231.0M	-3.6M	0.51	18.32	708,075	360,200	4,151,250	6,915,900
2024-05-31	$3.98	$4.00	63.7%	17.7%	50.8%	2.5%	62.3%	2.1%	-0.9%	-769.9K	-144.8M	-3.6M	1.68	22.53	467,650	787,175	4,341,575	6,884,575