CAR Options History — March 2023

In March 2023, CAR traded between $173.91 and $230.99. ATM implied volatility averaged 57.9%, placing in the 12.8% IV rank vs the trailing year. The 30-day expected move averaged 16.1%. IV traded above realized volatility by 3.9% (HV 20d: 54.1%). Max pain ranged from $190.00 to $230.00. Net GEX was positive for 4 of 23 trading days. Term structure was in contango for 13 of 23 days. Put/call ratio averaged 2.31.

Notable Days

  • 2023-03-17: Highest Volume — 16,348 contracts
  • 2023-03-21: Largest IV drop — 9.9% change
  • 2023-03-17: Highest IV Rank — 25.1%
  • 2023-03-17: Largest Expected Move — 18.8%

Monthly Statistics

MetricAvgMinMaxOpenClose
Price$194.91$173.91$230.99$218.57$194.52
Max Pain$207.39$190.00$230.00$220.00$190.00
ATM IV57.9%49.7%65.4%52.8%56.9%
Expected Move16.1%13.4%18.8%15.0%14.0%
HV 20d54.1%46.2%63.9%63.9%53.3%
HV 60d53.8%50.9%55.5%55.2%54.2%
IV Rank12.8%0.0%25.1%0.0%11.6%
IV Percentile14.8%0.0%34.1%0.0%8.3%
Term Structure2.8%-1.6%11.2%-0.9%10.9%
VWIV57.9%47.3%76.4%52.0%49.6%
Skew 25d8.9%2.5%14.4%5.0%7.1%
Skew 10d17.4%6.8%31.0%9.9%14.0%
Call IV 25d54.1%48.9%60.8%50.9%52.0%
Put IV 25d63.0%51.7%73.9%55.9%59.1%
Bid-Ask Spread %44.4634.8658.6747.0550.76
Gamma HHI0.100.060.200.060.08
Net GEX-1.9M-5.4M3.1M-1.0M-30.7K
Net DEX24.1M-69.1M77.6M-11.3M-17.9M
Net VEX-573.4K-655.6K-485.7K-600.1K-526.9K
Div Yield0.0%0.0%0.0%0.0%0.0%
P/C Ratio2.310.4615.661.410.46
Total Volume2,231.91349416,3486261,661
Total OI51,392.56540,46160,93556,68544,151

Daily Data (23 trading days)

DatePriceMax PainATM IVExp MoveHV 20dIV RankVWIVSkew 25dTerm StrGEXDEXVEXP/CSpread %Call VolPut VolCall OIPut OI
2023-03-01$218.57$220.0052.8%15.0%63.9%0.0%52.0%5.0%-0.9%-1.0M-11.3M-600.1K1.4147.0526036611,11645,569
2023-03-02$223.71$220.0052.0%14.2%58.6%0.0%50.8%5.6%-0.3%471.7K-34.7M-549.6K1.4258.6720429011,29845,785
2023-03-03$230.99$220.0049.7%13.4%58.3%0.0%47.3%2.5%-0.1%3.1M-69.1M-517.8K0.8357.0887772411,42645,913
2023-03-06$226.30$220.0050.6%14.1%57.9%1.5%53.6%5.7%-0.3%221.1K-39.9M-540.3K3.1438.0925780610,75545,550
2023-03-07$222.79$220.0050.7%14.5%58.0%1.7%52.4%5.3%-1.0%56.5K-33.1M-502.9K0.6940.2938426410,91746,019
2023-03-08$222.31$230.0050.9%14.3%52.0%1.9%52.9%4.0%-0.5%-91.1K-30.2M-485.7K0.8343.1357547911,09346,132
2023-03-09$208.40$230.0054.3%15.3%56.4%7.3%53.3%7.1%0.1%-1.4M14.6M-512.8K4.2741.535972,55211,49746,401
2023-03-10$191.18$220.0058.3%16.6%62.7%13.8%61.1%6.1%0.5%-5.4M63.7M-540.8K2.6541.231,0682,83311,66846,897
2023-03-13$189.23$220.0060.6%17.1%61.9%17.4%61.0%8.6%-0.3%-4.6M68.0M-562.8K2.2644.097631,72510,97347,171
2023-03-14$184.90$210.0060.7%17.0%61.0%17.6%58.3%7.0%-1.6%-5.1M74.1M-546.1K1.6650.041,3912,31511,49047,804
2023-03-15$185.42$210.0063.4%17.9%47.2%21.9%61.7%10.6%-1.4%-5.1M64.6M-565.3K3.3345.775441,81011,98748,343
2023-03-16$182.53$200.0062.5%17.6%46.2%20.4%65.9%8.8%-0.3%-4.1M56.2M-539.2K1.5743.1738360212,21248,393
2023-03-17$173.91$200.0065.4%18.8%47.0%25.1%76.4%13.1%0.8%-2.3M77.6M-570.1K15.6643.1898115,36712,28848,647
2023-03-20$174.63$200.0064.8%18.6%47.5%24.2%65.6%13.8%4.8%-2.7M65.6M-655.6K1.2534.867559438,01532,446
2023-03-21$184.60$200.0058.4%16.7%50.3%14.0%61.3%11.6%5.0%-2.0M37.6M-641.5K1.1438.237348368,40233,386
2023-03-22$178.71$200.0060.1%17.2%50.9%16.6%60.2%12.1%4.6%-2.7M52.2M-630.5K2.1444.952735848,68533,870
2023-03-23$180.97$195.0061.8%17.4%51.6%19.3%61.5%11.9%5.3%-2.5M47.2M-639.0K0.6241.904762968,80733,820
2023-03-24$180.19$195.0062.0%17.3%51.5%19.6%61.3%12.4%5.1%-3.0M49.9M-640.1K0.4741.017883699,03833,904
2023-03-27$180.59$195.0062.0%16.9%50.9%19.6%57.3%11.5%7.6%-1.8M35.4M-601.0K0.5840.185523188,59132,864
2023-03-28$177.77$195.0060.3%16.5%50.7%17.0%57.7%14.4%8.5%-2.0M42.8M-620.3K2.0745.876221,2909,04133,057
2023-03-29$183.25$190.0057.0%15.6%52.8%11.6%57.0%10.3%7.2%-1.2M26.0M-602.2K1.6945.094447509,23133,701
2023-03-30$187.48$190.0057.5%14.9%52.8%12.5%53.8%10.2%11.2%-581.5K13.9M-598.4K3.0746.423019259,31534,361
2023-03-31$194.52$190.0056.9%14.0%53.3%11.6%49.6%7.1%10.9%-30.7K-17.9M-526.9K0.4650.761,1365259,42834,723