CVNA Options History — February 2025

In February 2025, CVNA traded between $8.71 and $11.44. ATM implied volatility averaged 69.3%, placing in the 32.7% IV rank vs the trailing year. The 30-day expected move averaged 20.0%. IV traded above realized volatility by 19.4% (HV 20d: 50.0%). Max pain ranged from $8.80 to $9.20. Net GEX was positive for 16 of 19 trading days. Term structure was in contango for 3 of 19 days. Put/call ratio averaged 0.90.

Notable Days

  • 2025-02-20: Highest Volume — 7,507,325 contracts
  • 2025-02-20: Largest IV drop — 33.2% change
  • 2025-02-05: Highest IV Rank — 40.3%
  • 2025-02-05: Largest Expected Move — 26.8%

Monthly Statistics

MetricAvgMinMaxOpenClose
Price$10.14$8.71$11.44$10.03$9.25
Max Pain$8.99$8.80$9.20$9.20$8.80
ATM IV69.3%49.9%77.0%76.3%59.0%
Expected Move20.0%14.3%26.8%25.5%17.0%
HV 20d50.0%24.0%70.4%64.4%70.4%
HV 60d55.1%50.7%62.8%51.9%62.8%
IV Rank32.7%9.5%40.3%39.5%26.4%
IV Percentile42.9%12.7%57.9%54.8%25.8%
Term Structure-3.1%-6.7%0.9%-1.8%-0.5%
VWIV71.6%54.0%95.3%91.6%61.5%
Skew 25d6.6%4.2%8.7%7.8%4.6%
Skew 10d14.6%8.8%32.5%15.6%14.4%
Call IV 25d66.2%49.6%75.2%71.7%56.6%
Put IV 25d72.8%55.0%80.4%79.6%61.2%
Bid-Ask Spread %27.1519.7733.3028.4827.49
Gamma HHI0.110.060.270.070.19
Net GEX38.7M-29.1M95.7M33.0M36.7M
Net DEX-1.11B-2.57B646.0M-1.24B-508.0M
Net VEX-5.8M-6.3M-5.0M-6.1M-5.7M
Div Yield0.0%0.0%0.0%0.0%0.0%
P/C Ratio0.900.401.570.721.06
Total Volume2,311,010.526710,8507,507,3251,933,0251,481,275
Total OI9,223,090.7897,981,70012,004,8508,190,3259,938,175

Daily Data (19 trading days)

DatePriceMax PainATM IVExp MoveHV 20dIV RankVWIVSkew 25dTerm StrGEXDEXVEXP/CSpread %Call VolPut VolCall OIPut OI
2025-02-03$10.03$9.2076.3%25.5%64.4%39.5%91.6%7.8%-1.8%33.0M-1.24B-6.1M0.7228.481,124,825808,2003,480,3504,709,975
2025-02-04$10.29$9.2076.6%26.5%48.0%39.9%95.3%5.7%-4.5%59.8M-1.61B-6.2M0.9521.53426,100403,8753,729,8504,926,700
2025-02-05$10.26$9.2077.0%26.8%46.9%40.3%95.3%6.7%-4.9%73.8M-1.57B-6.1M1.4321.99292,825418,0253,806,9004,996,300
2025-02-06$10.44$8.8075.2%19.4%45.5%38.2%69.2%5.0%-3.4%94.7M-1.84B-6.0M1.0033.301,073,0251,068,2753,888,8505,137,850
2025-02-07$10.51$8.8074.9%19.8%45.6%37.9%72.1%7.7%-4.3%95.7M-1.93B-6.0M0.5531.651,293,650717,7004,085,2005,238,300
2025-02-10$10.70$8.8076.1%20.3%43.0%39.3%77.7%8.7%-4.3%51.7M-1.56B-6.0M1.5727.84504,825794,6753,363,8254,617,875
2025-02-11$10.76$8.8074.4%20.0%43.0%37.4%69.0%6.3%-2.9%58.8M-1.64B-5.9M0.4023.851,395,650564,1753,503,2504,930,425
2025-02-12$10.68$8.8075.9%20.2%43.6%39.1%69.7%7.1%-5.1%47.4M-1.48B-6.0M0.4530.511,234,675552,8503,731,5255,097,675
2025-02-13$10.85$8.8076.9%20.7%32.9%40.2%69.1%7.3%-5.2%82.8M-1.70B-5.9M0.6330.621,022,350648,2253,881,2255,170,650
2025-02-14$11.44$9.2074.7%20.2%24.2%37.7%71.5%4.2%-6.2%79.1M-2.57B-5.8M0.5127.612,147,3001,086,0253,929,4505,278,800
2025-02-18$11.36$9.2076.3%21.7%24.0%39.5%72.5%7.5%-5.8%29.4M-1.70B-6.2M0.8919.771,381,9501,233,7253,638,3754,852,150
2025-02-19$11.31$9.2074.7%21.4%24.5%37.8%75.3%7.7%-6.7%33.5M-1.70B-6.3M1.2927.601,371,3501,772,5754,220,3005,226,550
2025-02-20$9.90$9.2049.9%14.3%56.0%9.5%54.0%5.5%0.4%-29.1M-7.4M-5.0M0.8128.064,153,5503,353,7754,965,7256,190,150
2025-02-21$8.97$9.2058.9%17.1%66.0%19.7%60.7%7.9%-2.0%-28.9M646.0M-5.1M0.9131.182,452,4252,236,0755,701,6006,303,250
2025-02-24$8.71$9.2060.2%17.5%66.6%21.2%64.7%7.4%-1.2%-12.7M191.0M-5.3M0.6927.271,365,575945,7504,165,2254,480,475
2025-02-25$8.92$8.8059.7%17.2%67.3%20.8%63.6%6.5%0.1%1.4M-123.7M-5.4M1.0425.85725,000753,4504,478,9254,572,625
2025-02-26$9.27$8.8059.6%17.1%68.7%27.3%62.9%4.6%0.9%24.2M-519.3M-5.7M1.1827.03648,400766,1504,657,8254,657,175
2025-02-27$8.97$8.8061.4%18.0%69.4%30.2%65.6%6.9%-0.9%4.7M-154.1M-5.5M1.0624.15822,125868,8004,774,7004,910,525
2025-02-28$9.25$8.8059.0%17.0%70.4%26.4%61.5%4.6%-0.5%36.7M-508.0M-5.7M1.0627.49718,125763,1505,008,5504,929,625