CAR Options History — December 2023

In December 2023, CAR traded between $177.69 and $200.67. ATM implied volatility averaged 40.4%, placing in the 11.8% IV rank vs the trailing year. The 30-day expected move averaged 11.4%. IV traded below realized volatility by 4.6% (HV 20d: 45.0%). Max pain ranged from $170.00 to $185.00. Net GEX was positive for 20 of 20 trading days. Term structure was in contango for 15 of 20 days. Put/call ratio averaged 0.98.

Notable Days

  • 2023-12-11: Highest Volume — 16,294 contracts
  • 2023-12-18: Largest IV drop — 10.6% change
  • 2023-12-13: Highest IV Rank — 22.6%
  • 2023-12-13: Largest Expected Move — 13.7%

Monthly Statistics

MetricAvgMinMaxOpenClose
Price$188.15$177.69$200.67$194.95$177.69
Max Pain$175.25$170.00$185.00$185.00$170.00
ATM IV40.4%34.4%47.1%34.4%38.9%
Expected Move11.4%10.5%13.7%10.5%10.6%
HV 20d45.0%39.2%48.3%47.4%45.8%
HV 60d49.2%47.3%50.5%47.4%49.6%
IV Rank11.8%2.2%22.6%2.2%9.5%
IV Percentile22.9%3.2%38.1%3.2%19.8%
Term Structure0.2%-5.6%3.9%0.7%1.1%
VWIV40.4%36.6%46.3%38.5%37.6%
Skew 25d1.1%-6.4%7.3%1.7%0.7%
Skew 10d1.2%-14.4%7.5%5.0%3.9%
Call IV 25d40.4%34.0%48.2%34.0%39.3%
Put IV 25d41.4%35.6%53.2%35.6%39.9%
Bid-Ask Spread %81.7466.4096.2166.4074.85
Gamma HHI0.160.140.250.250.14
Net GEX4.0M2.2M7.3M7.3M2.2M
Net DEX-359.7K-103.3M213.4M-103.3M-24.2M
Net VEX-844.1K-1.0M-689.7K-862.4K-689.7K
Div Yield0.0%0.0%0.0%0.0%0.0%
P/C Ratio0.980.332.900.400.56
Total Volume4,192.757116,2942,696929
Total OI51,728.4539,28067,72041,42143,176

Daily Data (20 trading days)

DatePriceMax PainATM IVExp MoveHV 20dIV RankVWIVSkew 25dTerm StrGEXDEXVEXP/CSpread %Call VolPut VolCall OIPut OI
2023-12-01$194.95$185.0034.4%10.5%47.4%2.2%38.5%1.7%0.7%7.3M-103.3M-862.4K0.4066.401,92776920,93920,482
2023-12-04$193.97$180.0036.4%10.6%39.2%5.4%37.8%1.8%0.2%4.9M-84.4M-834.4K0.7981.8574959519,86319,417
2023-12-05$183.61$180.0037.0%10.8%43.5%6.3%38.4%1.0%1.7%3.1M-31.0M-800.5K1.0582.991,0051,05720,20119,521
2023-12-06$189.37$175.0036.7%10.5%42.5%5.9%36.6%-0.5%0.6%4.3M-61.2M-820.8K0.4083.183,2211,28120,89320,149
2023-12-07$190.00$180.0039.6%10.9%42.4%10.5%38.5%2.3%1.3%3.5M-53.9M-819.4K1.0484.307,9108,25220,74620,548
2023-12-08$190.45$180.0038.6%11.0%42.4%8.9%43.2%2.7%0.9%3.5M-28.7M-930.5K0.9692.768,0607,71225,18625,063
2023-12-11$197.07$180.0042.3%12.0%43.9%14.9%39.4%-6.4%-1.4%4.4M-32.8M-1.0M1.8795.985,68710,60727,92829,622
2023-12-12$194.51$180.0046.6%12.0%44.2%21.9%42.3%7.3%-3.3%3.6M108.7M-1.0M0.8492.4754845828,26435,017
2023-12-13$200.67$180.0047.1%13.7%43.4%22.6%46.3%4.3%0.9%4.0M27.5M-1.0M2.4796.211,3313,29428,27435,190
2023-12-14$193.18$180.0046.1%12.9%45.7%21.0%45.1%0.4%-2.7%2.2M213.4M-878.9K2.9092.058632,50026,32137,529
2023-12-15$194.80$170.0044.0%11.9%43.3%17.6%43.5%-2.6%-5.6%4.8M11.3M-944.6K0.8385.392,6772,23530,07537,645
2023-12-18$188.25$175.0039.3%11.1%44.7%10.1%39.4%0.8%3.9%5.9M-12.7M-904.2K0.6773.0265744231,61829,744
2023-12-19$188.81$170.0039.0%11.2%44.7%9.6%38.1%0.9%0.6%5.0M-35.1M-903.6K0.4377.5239917230,76228,376
2023-12-20$179.81$170.0040.4%11.6%47.6%11.8%41.0%0.6%1.9%3.3M90.9M-748.5K0.6878.591,5591,05830,20928,102
2023-12-21$183.84$170.0040.3%11.5%48.3%11.7%43.3%0.9%0.7%4.3M53.4M-774.5K0.3577.3583329531,17527,797
2023-12-22$183.06$170.0040.2%11.4%48.3%11.5%40.1%0.7%2.3%4.1M72.2M-762.2K0.3376.2290229431,50627,873
2023-12-26$181.18$170.0041.2%11.5%48.0%13.2%40.2%1.9%0.4%3.9M-49.6M-709.9K0.7273.4470650621,13420,058
2023-12-27$179.51$170.0040.0%11.0%47.6%11.3%39.2%0.9%0.2%3.6M-39.5M-706.3K1.4975.5957585721,33920,262
2023-12-28$178.23$170.0039.6%10.9%47.5%10.6%38.6%2.3%-0.6%2.5M-28.5M-707.5K0.7474.6353739521,55321,012
2023-12-29$177.69$170.0038.9%10.6%45.8%9.5%37.6%0.7%1.1%2.2M-24.2M-689.7K0.5674.8559433521,90521,271