CVNA Options History — October 2025

In October 2025, CVNA traded between $12.14 and $15.86. ATM implied volatility averaged 81.2%, placing in the 46.1% IV rank vs the trailing year. The 30-day expected move averaged 22.1%. IV traded above realized volatility by 23.5% (HV 20d: 57.7%). Max pain ranged from $12.40 to $15.20. Net GEX was positive for 18 of 23 trading days. Term structure was in contango for 0 of 23 days. Put/call ratio averaged 0.99.

Notable Days

2025-10-30: Highest Volume — 4,511,225 contracts
2025-10-30: Largest IV drop — 21.6% change
2025-10-22: Highest IV Rank — 61.9%
2025-10-23: Largest Expected Move — 27.2%

Monthly Statistics

Metric	Avg	Min	Max	Open	Close
Price	$14.04	$12.14	$15.86	$15.75	$12.24
Max Pain	$13.41	$12.40	$15.20	$15.00	$12.40
ATM IV	81.2%	61.4%	94.7%	73.2%	61.4%
Expected Move	22.1%	14.7%	27.2%	15.7%	18.2%
HV 20d	57.7%	43.3%	80.7%	44.3%	79.7%
HV 60d	50.7%	46.2%	57.6%	46.3%	57.6%
IV Rank	46.1%	23.1%	61.9%	36.8%	23.1%
IV Percentile	81.4%	46.8%	94.8%	63.5%	46.8%
Term Structure	-3.7%	-6.2%	-0.2%	-3.5%	-0.2%
VWIV	77.5%	51.3%	98.3%	54.2%	66.7%
Skew 25d	12.9%	6.3%	18.7%	8.0%	11.0%
Skew 10d	26.5%	15.4%	42.3%	17.1%	22.6%
Call IV 25d	74.7%	54.7%	85.6%	69.7%	54.7%
Put IV 25d	87.5%	65.7%	104.1%	77.8%	65.7%
Bid-Ask Spread %	44.79	32.01	60.99	49.46	48.84
Gamma HHI	0.05	0.03	0.10	0.04	0.05
Net GEX	21.5M	-31.1M	106.6M	100.6M	-22.5M
Net DEX	-1.43B	-3.05B	517.5M	-2.95B	-7.2M
Net VEX	-16.4M	-18.6M	-14.4M	-16.2M	-14.6M
Div Yield	0.0%	0.0%	0.0%	0.0%	0.0%
P/C Ratio	0.99	0.52	2.48	0.55	1.34
Total Volume	1,468,131.522	569,400	4,511,225	1,443,800	1,839,075
Total OI	12,242,929.348	10,689,800	14,052,600	10,890,325	14,052,600

Daily Data (23 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
2025-10-01	$15.75	$15.00	73.2%	15.7%	44.3%	36.8%	54.2%	8.0%	-3.5%	100.6M	-2.95B	-16.2M	0.55	49.46	931,175	512,625	5,255,875	5,634,450
2025-10-02	$15.86	$15.10	71.9%	14.7%	43.3%	35.3%	51.3%	6.3%	-2.2%	106.6M	-3.05B	-16.5M	0.52	56.40	662,725	342,125	5,306,125	5,816,800
2025-10-03	$15.07	$15.20	75.8%	15.8%	47.1%	39.9%	55.4%	9.8%	-3.7%	9.7M	-1.82B	-16.0M	0.78	60.99	1,045,425	816,300	5,372,850	5,884,500
2025-10-06	$14.85	$13.20	78.8%	20.6%	46.8%	43.3%	70.0%	7.8%	-2.9%	34.9M	-1.75B	-15.9M	0.68	40.32	453,775	310,325	5,048,175	5,641,625
2025-10-07	$14.92	$13.20	77.6%	20.6%	46.9%	42.0%	73.7%	10.6%	-3.3%	39.5M	-1.80B	-16.0M	0.89	42.03	336,175	299,300	5,218,175	5,763,900
2025-10-08	$14.56	$13.20	78.4%	20.7%	47.0%	42.9%	74.3%	8.9%	-3.5%	13.8M	-1.34B	-15.5M	0.86	39.63	665,325	575,425	5,297,800	5,845,225
2025-10-09	$14.40	$13.20	77.6%	20.7%	46.4%	42.0%	71.0%	9.7%	-3.9%	1.2M	-1.37B	-15.7M	0.88	44.36	971,950	859,450	5,637,375	6,216,850
2025-10-10	$13.27	$13.20	87.1%	23.3%	54.5%	53.0%	78.5%	17.5%	-4.2%	-24.9M	-193.3M	-15.3M	1.36	52.90	870,425	1,181,775	6,006,975	6,278,175
2025-10-13	$13.53	$13.20	82.7%	22.1%	55.0%	47.9%	81.2%	15.7%	-4.8%	1.3M	-756.4M	-15.5M	0.80	43.15	706,375	566,175	5,771,300	6,266,400
2025-10-14	$13.83	$13.20	82.5%	22.2%	55.8%	47.7%	80.7%	12.0%	-4.5%	12.1M	-1.21B	-16.3M	1.11	48.86	331,625	369,050	6,030,350	6,395,375
2025-10-15	$14.27	$13.20	83.1%	22.3%	55.1%	48.4%	75.8%	14.3%	-5.7%	26.9M	-1.72B	-16.6M	0.83	42.77	542,750	449,675	6,044,700	6,507,450
2025-10-16	$13.80	$13.20	88.9%	24.5%	56.1%	55.1%	81.3%	16.5%	-3.2%	2.7M	-1.12B	-16.5M	1.11	52.95	436,250	486,175	6,173,125	6,544,900
2025-10-17	$13.24	$13.20	91.0%	25.0%	55.8%	57.6%	95.0%	18.7%	-6.0%	-31.1M	-566.1M	-15.9M	2.48	52.22	703,150	1,742,100	6,291,850	6,655,250
2025-10-20	$13.49	$13.20	87.1%	24.5%	56.4%	53.0%	82.4%	16.8%	-3.4%	10.3M	-989.8M	-16.8M	0.76	43.40	679,150	515,050	5,340,600	6,497,725
2025-10-21	$14.24	$13.20	84.5%	24.0%	59.5%	50.0%	78.7%	15.7%	-4.8%	41.6M	-1.93B	-17.4M	0.66	32.90	774,175	512,050	5,391,550	6,653,175
2025-10-22	$13.07	$13.20	94.7%	27.1%	66.2%	61.9%	98.3%	18.4%	-4.4%	-7.0M	-575.4M	-16.9M	1.48	40.17	841,600	1,244,750	5,510,950	6,813,800
2025-10-23	$13.49	$13.20	94.1%	27.2%	67.6%	61.2%	94.4%	18.1%	-5.3%	13.7M	-1.27B	-17.9M	0.70	37.71	1,009,950	711,175	5,905,750	7,043,625
2025-10-24	$14.18	$13.20	90.1%	26.4%	70.2%	56.5%	89.3%	17.4%	-6.2%	73.1M	-2.30B	-18.6M	0.96	35.80	629,800	604,975	6,146,525	7,312,800
2025-10-27	$14.28	$13.20	83.4%	25.4%	65.7%	48.7%	89.4%	14.8%	-2.7%	38.0M	-2.20B	-18.1M	1.08	32.01	273,800	295,600	5,780,450	6,727,900
2025-10-28	$14.44	$13.20	80.0%	24.7%	64.3%	44.7%	86.2%	10.3%	-2.1%	41.9M	-2.42B	-17.8M	1.29	41.38	306,100	396,150	5,859,775	6,876,175
2025-10-29	$14.13	$13.20	79.9%	24.8%	62.1%	44.7%	86.8%	9.3%	-3.6%	34.4M	-2.03B	-17.5M	0.88	40.61	773,375	681,400	5,957,675	7,049,475
2025-10-30	$12.14	$13.20	62.6%	18.8%	80.7%	24.5%	68.3%	8.0%	-0.4%	-21.3M	517.5M	-14.4M	0.82	51.30	2,481,925	2,029,300	6,394,250	7,367,000
2025-10-31	$12.24	$12.40	61.4%	18.2%	79.7%	23.1%	66.7%	11.0%	-0.2%	-22.5M	-7.2M	-14.6M	1.34	48.84	785,725	1,053,350	6,552,250	7,500,350