CAR Options History — May 2021

In May 2021, CAR traded between $75.39 and $89.04. ATM implied volatility averaged 55.5%, placing in the 5.3% IV rank vs the trailing year. The 30-day expected move averaged 15.8%. IV traded above realized volatility by 1.7% (HV 20d: 53.7%). Max pain ranged from $70.00 to $80.00. Net GEX was positive for 13 of 20 trading days. Term structure was in contango for 11 of 20 days. Put/call ratio averaged 1.19.

Notable Days

2021-05-04: Highest Volume — 10,493 contracts
2021-05-04: Largest IV drop — 24.3% change
2021-05-03: Highest IV Rank — 15.5%
2021-05-03: Largest Expected Move — 20.5%

Monthly Statistics

Metric	Avg	Min	Max	Open	Close
Price	$83.83	$75.39	$89.04	$89.04	$87.63
Max Pain	$78.50	$70.00	$80.00	$70.00	$80.00
ATM IV	55.5%	47.7%	71.4%	71.4%	47.7%
Expected Move	15.8%	13.7%	20.5%	20.5%	13.7%
HV 20d	53.7%	34.4%	63.6%	34.4%	61.1%
HV 60d	54.3%	52.2%	58.0%	52.2%	52.7%
IV Rank	5.3%	0.0%	15.5%	15.5%	0.0%
IV Percentile	5.0%	0.0%	45.6%	45.6%	0.0%
Term Structure	-0.3%	-13.4%	3.5%	-13.4%	2.7%
VWIV	56.7%	50.4%	73.8%	73.8%	50.4%
Skew 25d	5.8%	3.2%	7.8%	3.2%	6.5%
Skew 10d	12.5%	6.6%	16.6%	6.6%	14.7%
Call IV 25d	53.1%	45.7%	70.4%	70.4%	45.7%
Put IV 25d	58.9%	52.2%	73.6%	73.6%	52.2%
Bid-Ask Spread %	40.39	28.13	66.18	48.53	41.20
Gamma HHI	0.09	0.08	0.11	0.09	0.09
Net GEX	285.2K	-1.4M	1.4M	505.5K	1.4M
Net DEX	-167.6M	-214.5M	-108.7M	-196.8M	-177.5M
Net VEX	-707.7K	-801.5K	-528.7K	-528.7K	-777.3K
Div Yield	0.0%	0.0%	0.0%	0.0%	0.0%
P/C Ratio	1.19	0.20	3.43	1.31	0.70
Total Volume	3,660.6	799	10,493	5,728	1,714
Total OI	91,064.6	75,703	107,795	79,246	80,132

Daily Data (20 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
2021-05-03	$89.04	$70.00	71.4%	20.5%	34.4%	15.5%	73.8%	3.2%	-13.4%	505.5K	-196.8M	-528.7K	1.31	48.53	2,478	3,250	30,031	49,215
2021-05-04	$83.36	$70.00	54.0%	15.5%	43.4%	3.3%	56.2%	3.6%	-1.2%	138.4K	-166.0M	-537.2K	3.43	60.86	2,370	8,123	31,405	50,863
2021-05-05	$83.67	$70.00	55.0%	15.8%	43.4%	4.0%	54.7%	3.8%	-0.7%	-575.4K	-156.4M	-605.1K	1.34	66.18	765	1,025	31,611	58,603
2021-05-06	$83.25	$80.00	56.1%	15.4%	42.9%	4.8%	53.7%	4.5%	0.4%	-494.0K	-154.9M	-604.1K	0.60	34.92	1,773	1,059	31,842	56,454
2021-05-07	$82.06	$80.00	50.6%	14.9%	42.4%	0.9%	51.9%	3.6%	1.0%	-234.3K	-152.7M	-588.1K	0.33	39.82	3,285	1,072	32,795	56,179
2021-05-10	$82.81	$80.00	55.4%	15.1%	42.5%	4.2%	53.8%	3.9%	0.7%	-25.8K	-166.1M	-669.8K	1.98	37.23	566	1,121	35,624	56,478
2021-05-11	$82.08	$80.00	59.2%	15.3%	42.0%	6.9%	56.0%	6.1%	1.5%	-215.4K	-159.3M	-687.6K	2.01	39.81	810	1,632	35,820	56,816
2021-05-12	$75.39	$80.00	59.7%	17.1%	51.9%	7.3%	59.4%	7.8%	-0.4%	-1.4M	-108.7M	-676.9K	0.99	33.84	4,075	4,049	36,061	57,010
2021-05-13	$79.68	$80.00	57.0%	16.3%	55.6%	6.2%	58.8%	6.8%	-0.8%	-303.7K	-151.0M	-746.3K	0.91	29.50	1,296	1,185	39,470	58,374
2021-05-14	$87.03	$80.00	54.7%	15.7%	63.6%	4.4%	62.2%	5.0%	0.7%	1.2M	-213.0M	-733.9K	3.41	38.21	2,289	7,807	39,568	58,738
2021-05-17	$87.78	$80.00	58.5%	16.8%	63.0%	8.0%	58.6%	5.4%	-1.1%	1.1M	-214.5M	-769.7K	0.48	32.38	2,274	1,098	40,079	64,154
2021-05-18	$86.47	$80.00	56.5%	16.2%	61.1%	7.3%	60.2%	7.4%	-0.5%	1.1M	-207.8M	-773.1K	1.62	30.54	847	1,371	41,263	64,352
2021-05-19	$82.15	$80.00	58.7%	16.8%	62.7%	9.5%	60.1%	6.8%	-0.5%	205.3K	-167.9M	-787.0K	0.71	37.89	1,258	891	41,389	64,871
2021-05-20	$83.42	$80.00	55.1%	15.8%	62.6%	6.4%	58.6%	7.5%	3.5%	512.9K	-179.7M	-768.1K	0.20	42.19	3,828	779	41,204	64,819
2021-05-21	$83.40	$80.00	54.1%	15.5%	60.7%	6.3%	56.4%	6.8%	0.3%	407.4K	-184.4M	-801.5K	0.88	43.13	840	740	42,697	65,098
2021-05-24	$84.91	$80.00	52.7%	15.1%	60.2%	4.4%	53.4%	7.5%	0.1%	519.9K	-151.0M	-772.6K	0.33	34.62	1,422	469	33,645	42,058
2021-05-25	$82.65	$80.00	52.4%	15.0%	60.0%	4.0%	52.0%	6.1%	-0.2%	372.4K	-137.3M	-783.6K	1.52	49.91	520	789	34,703	42,117
2021-05-26	$83.97	$80.00	50.6%	14.5%	60.3%	1.7%	51.0%	7.1%	1.2%	551.9K	-146.8M	-779.6K	0.62	38.83	493	306	35,011	42,659
2021-05-27	$85.76	$80.00	49.8%	14.3%	60.9%	0.5%	54.0%	7.0%	0.9%	862.8K	-160.7M	-764.4K	0.33	28.13	2,661	882	35,247	42,837
2021-05-28	$87.63	$80.00	47.7%	13.7%	61.1%	0.0%	50.4%	6.5%	2.7%	1.4M	-177.5M	-777.3K	0.70	41.20	1,009	705	37,035	43,097