CAR Options History — May 2018

In May 2018, CAR traded between $39.10 and $48.71. ATM implied volatility averaged 39.1%, placing in the 11.0% IV rank vs the trailing year. The 30-day expected move averaged 11.1%. IV traded below realized volatility by 14.6% (HV 20d: 53.7%). Max pain ranged from $42.00 to $49.00. Net GEX was positive for 13 of 22 trading days. Term structure was in contango for 17 of 22 days. Put/call ratio averaged 1.74.

Notable Days

2018-05-02: Highest Volume — 54,700 contracts
2018-05-03: Largest IV drop — 31.8% change
2018-05-02: Highest IV Rank — 57.3%
2018-05-02: Largest Expected Move — 17.9%

Monthly Statistics

Metric	Avg	Min	Max	Open	Close
Price	$43.23	$39.10	$48.71	$48.08	$39.10
Max Pain	$45.32	$42.00	$49.00	$42.00	$43.00
ATM IV	39.1%	33.9%	62.4%	58.3%	37.8%
Expected Move	11.1%	9.7%	17.9%	16.7%	10.8%
HV 20d	53.7%	35.4%	56.9%	35.7%	56.0%
HV 60d	46.6%	42.8%	52.3%	46.4%	43.1%
IV Rank	11.0%	0.6%	57.3%	49.2%	8.5%
IV Percentile	18.4%	1.2%	86.9%	76.6%	19.8%
Term Structure	0.7%	-15.2%	5.7%	-12.7%	-0.6%
VWIV	39.0%	33.8%	67.8%	60.4%	36.5%
Skew 25d	5.0%	3.6%	6.2%	4.8%	4.6%
Skew 10d	10.3%	6.7%	13.1%	9.8%	6.7%
Call IV 25d	36.6%	31.7%	60.9%	56.5%	34.9%
Put IV 25d	41.6%	36.8%	66.2%	61.3%	39.5%
Bid-Ask Spread %	16.83	11.76	26.05	19.11	14.22
Gamma HHI	0.27	0.07	0.92	0.20	0.07
Net GEX	2.8M	-4.6M	46.9M	863.4K	-1.9M
Net DEX	-40.9M	-248.3M	82.2M	-227.2M	82.2M
Net VEX	-870.0K	-1.0M	-752.5K	-1.0M	-752.5K
Div Yield	0.0%	0.0%	0.0%	0.0%	0.0%
P/C Ratio	1.74	0.13	6.11	0.13	1.13
Total Volume	18,736.318	6,173	54,700	43,492	10,125
Total OI	171,227.273	110,868	211,411	198,599	116,878

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
2018-05-01	$48.08	$42.00	58.3%	16.7%	35.7%	49.2%	60.4%	4.8%	-12.7%	863.4K	-227.2M	-1.0M	0.13	19.11	38,446	5,046	94,876	103,723
2018-05-02	$48.71	$42.00	62.4%	17.9%	35.4%	57.3%	67.8%	5.4%	-15.2%	755.4K	-248.3M	-1.0M	0.30	26.05	42,186	12,514	95,597	105,237
2018-05-03	$43.19	$49.00	42.5%	10.8%	55.0%	17.8%	36.3%	6.2%	2.1%	1.9M	-46.2M	-981.6K	0.47	13.56	32,953	15,584	97,341	108,944
2018-05-04	$44.82	$48.00	39.5%	10.5%	56.6%	11.7%	36.7%	5.1%	2.6%	1.1M	-108.3M	-1.0M	0.60	17.75	14,736	8,830	98,686	112,725
2018-05-07	$44.43	$47.00	40.2%	10.9%	56.6%	13.3%	36.7%	5.0%	1.9%	1.5M	-104.5M	-957.7K	0.56	20.28	14,317	7,964	99,106	111,227
2018-05-08	$43.25	$47.00	39.2%	10.9%	55.4%	11.2%	38.0%	4.5%	3.1%	2.9M	-51.3M	-894.5K	0.66	17.69	21,689	14,249	99,155	111,279
2018-05-09	$41.83	$47.00	38.2%	11.0%	55.2%	9.3%	37.8%	4.9%	2.4%	4.4M	6.8M	-879.2K	0.60	16.06	14,548	8,668	99,337	111,308
2018-05-10	$43.07	$47.00	36.3%	10.4%	55.2%	5.5%	36.8%	5.3%	3.5%	3.9M	-63.6M	-902.4K	0.86	15.63	13,785	11,836	93,009	107,221
2018-05-11	$43.47	$46.00	36.2%	10.4%	55.3%	5.3%	37.0%	5.5%	4.0%	3.4M	-83.4M	-904.0K	6.11	17.64	1,770	10,813	93,276	106,598
2018-05-14	$43.47	$46.00	37.4%	10.7%	54.4%	7.6%	37.6%	4.9%	3.3%	3.7M	-83.5M	-829.3K	1.25	17.57	5,470	6,861	93,460	104,931
2018-05-15	$43.00	$45.00	37.5%	10.7%	52.9%	7.8%	38.4%	5.4%	3.9%	5.9M	-68.8M	-821.1K	4.20	18.88	2,509	10,545	95,188	105,018
2018-05-16	$43.85	$45.00	35.8%	10.3%	53.3%	4.4%	37.5%	4.7%	4.5%	2.1M	-111.2M	-826.0K	2.64	16.78	2,370	6,268	95,238	108,356
2018-05-17	$44.68	$45.00	33.9%	9.7%	53.8%	0.6%	35.4%	5.2%	5.7%	-4.6M	-131.7M	-822.2K	2.92	13.64	2,757	8,050	94,685	108,423
2018-05-18	$42.15	$45.00	37.6%	10.8%	56.2%	8.0%	37.6%	6.0%	4.2%	46.9M	-42.0M	-789.5K	1.74	18.31	5,595	9,751	94,702	107,766
2018-05-21	$42.91	$45.00	35.6%	10.2%	56.6%	4.1%	35.7%	5.0%	0.0%	-1.4M	44.6M	-809.7K	2.45	13.11	3,051	7,487	31,085	79,783
2018-05-22	$42.80	$45.00	34.6%	9.9%	56.6%	2.2%	35.6%	4.0%	0.6%	-1.3M	45.1M	-830.5K	2.28	19.33	2,121	4,832	32,273	80,024
2018-05-23	$42.79	$45.00	34.3%	9.8%	56.3%	1.4%	36.1%	4.6%	0.9%	-1.4M	46.9M	-831.9K	2.31	12.31	1,983	4,589	32,585	80,615
2018-05-24	$43.07	$45.00	34.6%	9.9%	56.2%	2.2%	33.8%	4.2%	-0.0%	-1.3M	42.7M	-831.9K	2.14	21.14	2,070	4,424	32,956	80,730
2018-05-25	$42.19	$45.00	34.0%	9.7%	56.0%	0.8%	33.8%	4.8%	1.1%	-1.5M	52.1M	-821.6K	2.44	15.94	1,796	4,377	33,139	80,891
2018-05-29	$40.50	$44.00	37.6%	10.8%	56.9%	8.1%	37.9%	3.6%	0.1%	-1.7M	70.3M	-772.8K	1.23	13.51	3,576	4,394	33,039	80,851
2018-05-30	$39.68	$44.00	36.6%	10.5%	56.6%	6.1%	35.0%	5.9%	-0.0%	-2.0M	79.8M	-766.9K	1.27	11.76	3,193	4,071	33,991	81,748
2018-05-31	$39.10	$43.00	37.8%	10.8%	56.0%	8.5%	36.5%	4.6%	-0.6%	-1.9M	82.2M	-752.5K	1.13	14.22	4,749	5,376	34,920	81,958