CAR Options History — November 2008

In November 2008, CAR traded between $0.38 and $2.19. ATM implied volatility averaged 176.2%, placing in the 63.8% IV rank vs the trailing year. The 30-day expected move averaged 50.0%. IV traded below realized volatility by 93.3% (HV 20d: 269.5%). Max pain ranged from $2.50 to $5.00. Net GEX was positive for 15 of 19 trading days. Term structure was in contango for 2 of 19 days. Put/call ratio averaged 13.22.

Notable Days

2008-11-05: Highest Volume — 662 contracts
2008-11-25: Largest IV spike — 113.3% change
2008-11-28: Highest IV Rank — 88.8%
2008-11-28: Largest Expected Move — 66.2%

Monthly Statistics

Metric	Avg	Min	Max	Open	Close
Price	$1.12	$0.38	$2.19	$2.19	$0.76
Max Pain	$3.68	$2.50	$5.00	$2.50	$5.00
ATM IV	176.2%	87.3%	230.8%	169.4%	230.8%
Expected Move	50.0%	25.0%	66.2%	48.6%	66.2%
HV 20d	269.5%	225.4%	315.1%	310.4%	302.8%
HV 60d	204.7%	190.6%	241.8%	191.3%	241.8%
IV Rank	63.8%	23.2%	88.8%	60.7%	88.8%
IV Percentile	92.4%	72.2%	98.8%	94.0%	98.8%
Term Structure	-33.1%	-132.0%	79.8%	-21.1%	-132.0%
VWIV	179.3%	167.2%	201.7%	168.9%	201.7%
Skew 25d	-10.3%	-75.4%	55.1%	47.0%	-32.1%
Skew 10d	-4.9%	-75.4%	67.9%	64.2%	-32.1%
Call IV 25d	156.6%	100.4%	260.3%	100.4%	150.9%
Put IV 25d	146.3%	97.2%	237.3%	147.4%	118.8%
Bid-Ask Spread %	6.94	2.32	17.46	12.48	9.58
Gamma HHI	0.34	0.15	1.00	0.17	0.17
Net GEX	1.0K	0	3.4K	3.2K	472
Net DEX	573.7K	158.8K	957.6K	845.4K	202.1K
Net VEX	-3.7K	-9.5K	0	-9.5K	-2.2K
Div Yield	0.0%	0.0%	0.0%	0.0%	0.0%
P/C Ratio	13.22	0.00	190.00	0.11	11.20
Total Volume	177.579	0	662	597	0
Total OI	34,041.579	29,042	36,400	35,326	29,112

Daily Data (19 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
2008-11-03	$2.19	$2.50	169.4%	48.6%	310.4%	60.7%	168.9%	47.0%	-21.1%	3.2K	845.4K	-9.5K	0.11	12.48	536	61	26,216	9,110
2008-11-04	$2.09	$2.50	167.0%	47.9%	309.3%	59.6%	167.2%	1.1%	-16.0%	3.4K	789.1K	-9.4K	0.71	13.62	251	179	26,462	9,120
2008-11-05	$1.95	$2.50	201.7%	57.8%	308.1%	75.5%	201.7%	31.3%	-60.4%	2.8K	927.7K	-7.9K	1.90	8.28	228	434	26,596	9,095
2008-11-06	$1.94	$2.50	228.8%	65.6%	289.2%	87.9%	0.0%	55.1%	-61.8%	2.9K	903.0K	-8.5K	0.08	10.12	254	20	26,776	9,453
2008-11-07	$1.69	$2.50	178.3%	51.1%	287.4%	64.8%	0.0%	24.4%	-69.3%	2.0K	957.6K	-6.5K	0.88	14.98	33	29	26,925	9,471
2008-11-10	$1.51	$2.50	223.7%	64.1%	284.7%	85.5%	0.0%	-7.0%	-88.7%	1.2K	849.0K	-5.9K	3.00	5.77	10	30	26,930	9,470
2008-11-11	$1.25	$2.50	161.3%	46.2%	268.2%	57.0%	0.0%	-53.6%	10.9%	422	918.8K	-3.4K	0.14	4.06	178	25	26,920	9,470
2008-11-12	$1.12	$2.50	164.4%	0.0%	238.9%	58.4%	0.0%	-11.3%	0.0%	582	773.7K	-3.2K	0.00	3.07	4	0	26,830	9,357
2008-11-13	$1.07	$2.50	215.0%	0.0%	238.7%	81.5%	0.0%	-17.3%	0.0%	579	721.4K	-3.2K	0.39	17.46	31	12	26,830	9,281
2008-11-14	$1.03	$2.50	181.1%	0.0%	238.2%	66.1%	0.0%	-43.2%	0.0%	557	691.3K	-3.1K	0.00	8.78	5	0	26,861	9,277
2008-11-17	$0.85	$5.00	134.0%	38.4%	243.2%	44.5%	0.0%	-19.7%	-14.4%	382	454.4K	-2.3K	0.61	3.72	33	20	26,861	7,520
2008-11-18	$0.62	$5.00	149.5%	42.9%	225.4%	51.6%	0.0%	30.2%	-2.4%	345	289.9K	-1.9K	2.09	3.32	113	236	26,868	7,451
2008-11-19	$0.49	$5.00	185.0%	53.0%	234.9%	67.8%	0.0%	-1.7%	-68.1%	0	347.0K	0	190.00	2.75	1	190	26,858	7,082
2008-11-20	$0.41	$5.00	171.8%	0.0%	236.9%	61.8%	0.0%	-59.4%	0.0%	0	280.1K	0	0.32	2.81	155	50	26,858	6,831
2008-11-21	$0.38	$5.00	170.9%	0.0%	237.0%	61.4%	0.0%	-75.4%	0.0%	0	258.4K	0	0.04	3.01	80	3	26,894	6,801
2008-11-24	$0.55	$5.00	87.3%	25.0%	277.3%	23.2%	0.0%	-55.7%	-5.3%	298	158.8K	-1.5K	0.00	2.61	0	2	23,838	5,221
2008-11-25	$0.54	$5.00	186.3%	53.4%	274.9%	68.4%	0.0%	-23.1%	79.8%	0	281.0K	0	11.20	2.32	10	112	23,838	5,204
2008-11-26	$0.80	$5.00	141.1%	40.4%	315.1%	47.8%	0.0%	15.1%	-14.5%	427	251.6K	-2.1K	0.00	3.17	0	49	23,848	5,255
2008-11-28	$0.76	$5.00	230.8%	66.2%	302.8%	88.8%	0.0%	-32.1%	-132.0%	472	202.1K	-2.2K	0.00	9.58	0	0	23,848	5,264