CVNA Options History — July 2025

In July 2025, CVNA traded between $13.11 and $15.43. ATM implied volatility averaged 70.6%, placing in the 33.8% IV rank vs the trailing year. The 30-day expected move averaged 20.3%. IV traded above realized volatility by 27.9% (HV 20d: 42.6%). Max pain ranged from $10.80 to $12.80. Net GEX was positive for 21 of 22 trading days. Term structure was in contango for 1 of 22 days. Put/call ratio averaged 0.88.

Notable Days

2025-07-31: Highest Volume — 5,618,250 contracts
2025-07-31: Largest IV drop — 31.8% change
2025-07-18: Highest IV Rank — 38.2%
2025-07-29: Largest Expected Move — 24.1%

Monthly Statistics

Metric	Avg	Min	Max	Open	Close
Price	$13.79	$13.11	$15.43	$13.57	$15.43
Max Pain	$11.67	$10.80	$12.80	$12.80	$12.00
ATM IV	70.6%	46.8%	74.4%	66.4%	46.8%
Expected Move	20.3%	13.7%	24.1%	13.7%	13.7%
HV 20d	42.6%	27.5%	54.7%	51.3%	54.7%
HV 60d	53.5%	45.7%	73.0%	73.0%	53.0%
IV Rank	33.8%	6.0%	38.2%	28.9%	6.0%
IV Percentile	54.1%	12.3%	61.9%	48.8%	12.3%
Term Structure	-3.4%	-5.6%	1.0%	1.0%	-0.8%
VWIV	72.2%	47.2%	88.4%	50.0%	47.2%
Skew 25d	7.4%	4.0%	9.1%	9.1%	5.5%
Skew 10d	17.2%	14.7%	29.2%	16.8%	29.2%
Call IV 25d	66.9%	44.4%	72.1%	62.5%	44.4%
Put IV 25d	74.3%	50.0%	79.8%	71.6%	50.0%
Bid-Ask Spread %	32.51	21.14	51.40	31.04	51.40
Gamma HHI	0.10	0.07	0.21	0.09	0.07
Net GEX	73.5M	-13.3M	139.6M	92.2M	139.6M
Net DEX	-2.66B	-5.32B	-1.60B	-2.79B	-5.32B
Net VEX	-13.7M	-14.3M	-13.0M	-14.1M	-13.7M
Div Yield	0.0%	0.0%	0.0%	0.0%	0.0%
P/C Ratio	0.88	0.33	1.46	1.34	0.77
Total Volume	1,452,953.409	612,725	5,618,250	946,025	5,618,250
Total OI	10,744,439.773	9,467,150	12,525,400	10,241,600	12,525,400

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
2025-07-01	$13.57	$12.80	66.4%	13.7%	51.3%	28.9%	50.0%	9.1%	1.0%	92.2M	-2.79B	-14.1M	1.34	31.04	403,800	542,225	5,152,675	5,088,925
2025-07-02	$13.75	$12.80	72.3%	14.1%	50.8%	35.8%	51.2%	7.7%	-2.7%	104.6M	-3.04B	-14.3M	0.66	32.01	703,800	465,750	5,256,625	5,302,325
2025-07-03	$13.89	$10.80	71.3%	18.8%	50.2%	34.6%	67.5%	8.4%	-3.4%	118.4M	-3.19B	-14.2M	0.90	30.10	352,075	318,150	5,323,075	5,457,150
2025-07-07	$14.36	$10.80	73.8%	19.8%	51.4%	37.5%	71.8%	8.6%	-3.1%	93.3M	-3.46B	-13.9M	0.94	29.94	691,800	651,525	4,892,675	4,969,675
2025-07-08	$13.82	$11.20	72.1%	19.4%	53.2%	35.5%	68.6%	8.0%	-3.6%	82.2M	-2.61B	-14.0M	1.04	37.37	611,125	633,775	5,142,950	5,286,825
2025-07-09	$13.98	$11.20	71.3%	19.3%	53.3%	34.6%	68.7%	8.2%	-3.8%	98.8M	-2.99B	-13.9M	0.74	32.78	534,150	395,850	5,301,450	5,513,050
2025-07-10	$13.91	$11.20	70.7%	19.1%	53.2%	33.9%	68.1%	7.2%	-3.9%	88.5M	-2.85B	-13.6M	0.94	33.91	442,200	416,425	5,320,950	5,593,375
2025-07-11	$13.69	$11.20	71.2%	19.5%	53.6%	34.4%	67.6%	7.9%	-4.6%	65.2M	-2.49B	-13.3M	1.05	35.94	650,800	680,775	5,414,675	5,665,600
2025-07-14	$13.89	$11.20	71.4%	20.1%	49.9%	34.7%	72.5%	7.5%	-2.5%	83.1M	-2.68B	-13.4M	1.07	33.68	412,750	443,175	5,008,350	5,375,250
2025-07-15	$13.92	$11.20	70.4%	20.0%	39.1%	33.5%	70.2%	7.7%	-3.2%	93.4M	-2.73B	-13.3M	0.98	37.70	308,875	303,850	5,118,875	5,488,150
2025-07-16	$14.03	$11.60	72.5%	20.8%	38.3%	36.0%	69.8%	7.9%	-4.2%	109.2M	-2.88B	-13.3M	0.33	38.06	1,600,800	533,550	5,171,525	5,569,800
2025-07-17	$13.83	$11.60	72.5%	20.9%	39.1%	36.0%	83.1%	8.3%	-3.9%	83.6M	-2.56B	-13.6M	1.46	28.28	470,150	688,375	5,476,450	5,689,725
2025-07-18	$13.74	$11.60	74.4%	21.8%	36.5%	38.2%	74.3%	7.7%	-4.9%	90.5M	-2.45B	-13.5M	0.42	34.65	1,270,650	532,300	5,503,700	5,843,700
2025-07-21	$13.69	$11.60	73.9%	22.3%	34.4%	37.7%	80.9%	7.0%	-4.1%	54.4M	-2.25B	-13.5M	0.82	23.38	474,075	386,725	4,769,700	4,697,450
2025-07-22	$13.72	$12.00	73.1%	22.6%	34.4%	36.7%	77.2%	7.5%	-4.1%	64.4M	-2.34B	-13.3M	0.64	24.46	1,056,275	674,775	4,955,325	4,845,900
2025-07-23	$13.61	$12.00	74.0%	23.0%	34.6%	37.7%	83.5%	7.3%	-3.7%	51.0M	-2.29B	-13.6M	0.69	23.21	539,750	370,400	5,206,375	5,167,125
2025-07-24	$13.11	$12.00	73.1%	23.3%	36.3%	36.8%	88.4%	5.7%	-5.5%	4.8M	-1.60B	-13.0M	0.66	21.14	1,510,225	1,000,675	5,294,425	5,214,000
2025-07-25	$13.21	$12.00	73.0%	23.2%	35.1%	36.6%	77.9%	6.9%	-5.6%	-13.3M	-1.71B	-13.9M	0.70	27.62	867,525	605,575	5,842,650	5,572,875
2025-07-28	$13.42	$12.00	69.8%	23.4%	33.6%	32.9%	78.9%	7.2%	-3.3%	33.8M	-1.97B	-13.5M	0.58	33.58	857,050	496,950	5,314,800	5,284,300
2025-07-29	$13.36	$12.00	70.2%	24.1%	27.5%	33.3%	86.7%	7.3%	-3.4%	35.1M	-2.00B	-13.5M	1.43	35.38	403,650	577,500	5,636,925	5,517,675
2025-07-30	$13.51	$12.00	68.6%	23.9%	27.6%	31.5%	83.6%	4.0%	-2.4%	44.3M	-2.32B	-14.2M	1.21	39.53	662,750	804,125	6,001,500	5,603,725
2025-07-31	$15.43	$12.00	46.8%	13.7%	54.7%	6.0%	47.2%	5.5%	-0.8%	139.6M	-5.32B	-13.7M	0.77	51.40	3,165,675	2,452,575	6,388,925	6,136,475