CAR Options History — May 2025

In May 2025, CAR traded between $93.39 and $122.38. ATM implied volatility averaged 57.2%, placing in the 23.8% IV rank vs the trailing year. The 30-day expected move averaged 16.5%. IV traded below realized volatility by 8.7% (HV 20d: 65.9%). Max pain ranged from $80.00 to $90.00. Net GEX was positive for 21 of 21 trading days. Term structure was in contango for 12 of 21 days. Put/call ratio averaged 1.02.

Notable Days

2025-05-07: Highest Volume — 40,662 contracts
2025-05-08: Largest IV drop — 23.9% change
2025-05-01: Highest IV Rank — 45.6%
2025-05-02: Largest Expected Move — 23.4%

Monthly Statistics

Metric	Avg	Min	Max	Open	Close
Price	$108.33	$93.39	$122.38	$93.39	$122.08
Max Pain	$82.38	$80.00	$90.00	$85.00	$90.00
ATM IV	57.2%	50.1%	71.1%	71.1%	51.0%
Expected Move	16.5%	14.0%	23.4%	23.3%	14.0%
HV 20d	65.9%	37.7%	108.8%	108.8%	39.5%
HV 60d	93.7%	91.2%	96.8%	96.6%	91.2%
IV Rank	23.8%	10.6%	45.6%	45.6%	10.6%
IV Percentile	30.6%	14.3%	63.5%	63.5%	14.3%
Term Structure	0.8%	-5.3%	8.0%	3.3%	1.9%
VWIV	56.9%	41.8%	83.2%	82.2%	50.3%
Skew 25d	6.4%	1.9%	17.9%	10.8%	3.0%
Skew 10d	12.1%	-19.3%	33.0%	26.2%	-19.3%
Call IV 25d	53.6%	41.8%	66.2%	66.2%	51.1%
Put IV 25d	60.0%	53.4%	77.0%	77.0%	54.1%
Bid-Ask Spread %	47.97	35.90	60.89	47.64	46.61
Gamma HHI	0.09	0.06	0.22	0.09	0.08
Net GEX	6.3M	2.0M	12.2M	3.3M	4.9M
Net DEX	-348.6M	-491.6M	-192.0M	-192.0M	-436.4M
Net VEX	-2.2M	-2.5M	-2.1M	-2.1M	-2.5M
Div Yield	0.0%	0.0%	0.0%	0.0%	0.0%
P/C Ratio	1.02	0.12	3.44	1.35	0.86
Total Volume	10,372.571	2,605	40,662	5,758	4,825
Total OI	179,008.857	140,777	223,760	174,719	167,230

Daily Data (21 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
2025-05-01	$93.39	$85.00	71.1%	23.3%	108.8%	45.6%	82.2%	10.8%	3.3%	3.3M	-192.0M	-2.1M	1.35	47.64	2,453	3,305	77,187	97,532
2025-05-02	$96.59	$85.00	70.4%	23.4%	106.8%	44.6%	83.2%	7.7%	4.7%	5.7M	-261.8M	-2.1M	1.34	50.07	3,062	4,114	79,532	99,998
2025-05-05	$97.25	$80.00	65.9%	18.3%	103.5%	38.0%	61.3%	6.7%	6.9%	4.8M	-250.8M	-2.1M	0.34	47.81	7,676	2,574	76,891	98,559
2025-05-06	$97.30	$80.00	70.5%	19.3%	103.2%	44.7%	65.8%	8.5%	-2.3%	5.3M	-262.6M	-2.1M	2.76	46.03	1,543	4,254	82,597	99,966
2025-05-07	$101.34	$80.00	69.8%	19.1%	95.5%	43.7%	64.2%	7.6%	-2.4%	5.3M	-331.8M	-2.1M	0.79	47.09	22,696	17,966	82,747	104,553
2025-05-08	$100.63	$80.00	53.1%	15.8%	81.5%	19.5%	59.3%	8.2%	8.0%	8.8M	-351.2M	-2.2M	1.04	57.69	14,438	14,989	101,157	118,762
2025-05-09	$103.42	$80.00	56.5%	15.8%	76.8%	24.3%	54.2%	9.4%	2.0%	10.8M	-411.5M	-2.2M	0.39	57.19	15,925	6,256	102,153	121,607
2025-05-12	$102.80	$80.00	53.0%	14.6%	77.3%	19.2%	51.5%	5.3%	0.9%	9.8M	-347.7M	-2.2M	0.25	60.89	2,943	742	96,120	112,451
2025-05-13	$107.23	$80.00	54.0%	15.3%	77.7%	20.8%	51.1%	2.1%	-1.1%	11.0M	-453.7M	-2.2M	0.43	52.33	6,364	2,766	96,543	112,863
2025-05-14	$105.80	$80.00	55.1%	15.1%	75.5%	22.4%	52.2%	6.0%	-0.5%	10.1M	-409.1M	-2.2M	0.47	54.06	2,375	1,117	97,182	114,228
2025-05-15	$105.94	$80.00	54.9%	15.6%	75.6%	19.9%	55.9%	4.2%	-1.0%	9.9M	-417.7M	-2.2M	3.44	56.81	1,607	5,528	97,425	114,428
2025-05-16	$109.42	$80.00	50.1%	14.4%	42.7%	12.7%	52.3%	6.7%	-0.4%	12.2M	-491.6M	-2.2M	0.61	42.91	3,675	2,234	97,850	116,909
2025-05-19	$112.56	$80.00	53.1%	15.0%	38.5%	17.3%	41.8%	5.3%	1.4%	3.4M	-296.7M	-2.2M	0.61	35.90	4,029	2,475	63,416	77,361
2025-05-20	$111.66	$80.00	51.4%	14.6%	37.7%	14.6%	51.9%	5.9%	0.7%	2.9M	-270.7M	-2.2M	1.58	38.37	1,009	1,596	62,593	78,477
2025-05-21	$108.81	$80.00	53.0%	15.2%	40.0%	17.1%	51.7%	5.2%	1.6%	2.0M	-233.1M	-2.2M	1.84	39.70	2,610	4,815	62,933	79,315
2025-05-22	$117.02	$80.00	56.3%	16.2%	41.9%	21.9%	56.2%	5.0%	-4.9%	3.8M	-346.6M	-2.2M	1.59	38.63	4,348	6,908	64,860	82,912
2025-05-23	$119.57	$85.00	53.4%	15.2%	41.5%	17.5%	52.4%	4.3%	2.8%	6.2M	-392.1M	-2.3M	0.59	42.62	3,024	1,772	67,755	85,680
2025-05-27	$122.38	$85.00	53.3%	15.5%	41.3%	15.6%	53.6%	1.9%	1.8%	4.4M	-407.5M	-2.3M	0.44	44.52	7,812	3,424	66,761	83,903
2025-05-28	$120.50	$90.00	53.0%	15.8%	39.1%	15.1%	54.9%	17.9%	-5.3%	4.0M	-385.6M	-2.3M	0.63	51.97	5,278	3,346	69,046	86,336
2025-05-29	$119.33	$90.00	52.1%	14.9%	39.5%	13.6%	49.5%	2.0%	-1.4%	3.7M	-370.7M	-2.5M	0.12	48.45	8,866	1,085	72,204	89,164
2025-05-30	$122.08	$90.00	51.0%	14.0%	39.5%	10.6%	50.3%	3.0%	1.9%	4.9M	-436.4M	-2.5M	0.86	46.61	2,600	2,225	77,201	90,029