CAR Options History — September 2023

In September 2023, CAR traded between $177.85 and $211.85. ATM implied volatility averaged 38.9%, placing in the 7.5% IV rank vs the trailing year. The 30-day expected move averaged 10.8%. IV traded above realized volatility by 3.6% (HV 20d: 35.3%). Max pain ranged from $200.00 to $230.00. Net GEX was positive for 16 of 20 trading days. Term structure was in contango for 15 of 20 days. Put/call ratio averaged 1.87.

Notable Days

  • 2023-09-07: Highest Volume — 2,860 contracts
  • 2023-09-08: Largest IV drop — 8.6% change
  • 2023-09-28: Highest IV Rank — 22.0%
  • 2023-09-26: Largest Expected Move — 12.4%

Monthly Statistics

MetricAvgMinMaxOpenClose
Price$193.61$177.85$211.85$211.85$179.64
Max Pain$209.63$200.00$230.00$217.50$200.00
ATM IV38.9%34.2%47.5%34.5%46.7%
Expected Move10.8%8.8%12.4%8.8%11.3%
HV 20d35.3%29.5%38.4%32.7%29.5%
HV 60d33.2%30.9%36.3%34.9%31.6%
IV Rank7.5%0.0%22.0%0.0%20.5%
IV Percentile8.6%0.0%27.4%0.0%26.2%
Term Structure2.9%-0.6%9.7%0.9%9.7%
VWIV38.1%30.7%42.9%30.7%40.5%
Skew 25d3.6%2.7%5.5%2.9%5.2%
Skew 10d6.2%4.7%10.0%5.1%8.5%
Call IV 25d37.2%33.1%43.9%33.1%41.1%
Put IV 25d40.9%36.1%49.4%36.1%46.3%
Bid-Ask Spread %54.5547.7365.8365.8358.55
Gamma HHI0.120.070.180.080.15
Net GEX347.8K-501.7K1.2M-157.2K-8.2K
Net DEX-22.6M-73.2M15.2M-64.8M10.3M
Net VEX-693.5K-735.1K-659.2K-716.1K-664.6K
Div Yield0.0%0.0%0.0%0.0%0.0%
P/C Ratio1.870.3114.860.770.31
Total Volume1,295.15432,8601,644881
Total OI31,457.3529,07034,61831,76030,944

Daily Data (20 trading days)

DatePriceMax PainATM IVExp MoveHV 20dIV RankVWIVSkew 25dTerm StrGEXDEXVEXP/CSpread %Call VolPut VolCall OIPut OI
2023-09-01$211.85$217.5034.5%8.8%32.7%0.0%30.7%2.9%0.9%-157.2K-64.8M-716.1K0.7765.8392871615,99815,762
2023-09-05$211.76$230.0036.6%10.7%32.7%3.5%37.0%3.3%-0.1%987.9K-73.2M-716.9K0.7856.4488869515,66215,250
2023-09-06$205.94$220.0036.9%10.7%33.9%3.9%40.0%3.7%0.8%594.5K-54.2M-707.4K0.8849.2277468116,06115,316
2023-09-07$196.45$220.0039.0%11.3%37.1%7.5%41.0%3.9%-0.1%181.7K-20.2M-670.2K0.4748.881,94791316,20915,367
2023-09-08$198.98$220.0035.7%10.4%36.7%1.9%36.4%2.8%-0.0%88.1K-27.4M-683.1K1.5355.0757387517,66016,466
2023-09-11$202.97$210.0035.3%10.4%37.0%1.3%35.5%3.0%0.7%507.9K-51.6M-682.6K0.9055.341,1801,06115,94116,345
2023-09-12$196.70$210.0036.7%10.5%38.0%3.6%37.4%2.9%-0.6%-215.1K-30.0M-682.6K14.8655.27991,47116,26116,597
2023-09-13$196.47$210.0035.6%10.3%37.4%1.8%36.6%3.1%0.4%-501.7K-28.5M-716.5K2.4855.0032580716,31417,813
2023-09-14$199.98$210.0034.2%9.8%38.4%0.0%34.9%2.7%-0.1%385.2K-46.7M-735.1K1.0859.5229131516,45318,050
2023-09-15$198.60$210.0034.9%10.1%38.3%1.3%36.0%3.0%0.3%293.5K-42.4M-734.7K0.4863.0077837416,57918,039
2023-09-18$198.88$210.0035.2%10.1%37.7%1.6%35.4%3.1%2.9%1.2M-35.5M-722.2K0.9048.5230527413,94615,124
2023-09-19$193.51$210.0036.8%10.6%38.1%4.3%37.4%3.5%2.1%779.8K-20.0M-709.3K0.3548.601,00734914,21615,202
2023-09-20$190.91$210.0036.8%10.6%38.0%4.4%37.4%3.0%2.2%599.7K-11.4M-690.6K1.8351.4620136714,51215,252
2023-09-21$188.91$205.0039.3%11.1%36.2%8.4%39.4%3.2%2.7%160.3K-7.0M-694.7K0.3947.7394636914,62015,394
2023-09-22$182.05$200.0041.6%11.5%37.4%12.2%40.4%3.6%3.5%86.3K10.7M-669.3K0.7854.0290970515,14215,489
2023-09-25$181.07$200.0043.0%11.9%34.6%14.5%40.7%4.8%9.5%179.3K8.7M-679.6K0.6553.5468644613,99915,510
2023-09-26$177.85$200.0045.4%12.4%30.3%18.5%42.9%5.5%6.2%341.3K15.2M-659.2K1.1655.4050358214,59115,742
2023-09-27$178.44$200.0045.8%12.2%30.2%19.1%40.9%4.4%7.8%533.4K12.6M-662.1K4.6955.1720093814,86415,795
2023-09-28$181.25$200.0047.5%11.6%31.0%22.0%40.8%5.2%9.1%889.8K2.6M-673.4K2.1954.4117037314,91515,747
2023-09-29$179.64$200.0046.7%11.3%29.5%20.5%40.5%5.2%9.7%-8.2K10.3M-664.6K0.3158.5567420714,96115,983