CAR Options History — July 2025

In July 2025, CAR traded between $170.50 and $208.25. ATM implied volatility averaged 61.7%, placing in the 24.3% IV rank vs the trailing year. The 30-day expected move averaged 17.8%. IV traded below realized volatility by 3.0% (HV 20d: 64.7%). Max pain ranged from $145.00 to $180.00. Net GEX was positive for 20 of 22 trading days. Term structure was in contango for 6 of 22 days. Put/call ratio averaged 1.70.

Notable Days

2025-07-01: Highest Volume — 32,801 contracts
2025-07-30: Largest IV drop — 15.1% change
2025-07-07: Highest IV Rank — 39.1%
2025-07-07: Largest Expected Move — 19.7%

Monthly Statistics

Metric	Avg	Min	Max	Open	Close
Price	$189.91	$170.50	$208.25	$172.34	$170.50
Max Pain	$162.73	$145.00	$180.00	$150.00	$180.00
ATM IV	61.7%	51.2%	70.9%	62.5%	51.2%
Expected Move	17.8%	14.5%	19.7%	16.0%	14.5%
HV 20d	64.7%	39.5%	75.5%	75.5%	73.4%
HV 60d	62.7%	53.9%	78.0%	78.0%	65.6%
IV Rank	24.3%	7.3%	39.1%	25.6%	7.3%
IV Percentile	42.7%	11.5%	63.5%	46.4%	11.5%
Term Structure	0.0%	-4.6%	12.1%	9.4%	-0.0%
VWIV	62.5%	50.3%	71.0%	56.7%	50.3%
Skew 25d	3.1%	-1.5%	9.1%	3.1%	9.1%
Skew 10d	4.3%	-16.3%	30.6%	1.6%	23.8%
Call IV 25d	59.9%	45.0%	70.7%	58.1%	45.0%
Put IV 25d	63.0%	53.4%	74.5%	61.3%	54.1%
Bid-Ask Spread %	54.42	30.37	77.93	77.93	70.76
Gamma HHI	0.09	0.06	0.12	0.10	0.07
Net GEX	8.3M	-16.2M	16.3M	3.5M	-16.2M
Net DEX	-1.05B	-1.43B	50.2M	-807.8M	31.0M
Net VEX	-7.9M	-9.5M	-4.8M	-4.8M	-8.5M
Div Yield	0.0%	0.0%	0.0%	0.0%	0.0%
P/C Ratio	1.70	0.64	4.34	1.36	4.34
Total Volume	16,691.318	6,081	32,801	32,801	22,980
Total OI	364,726.636	279,370	409,736	279,370	409,736

Daily Data (22 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
2025-07-01	$172.34	$150.00	62.5%	16.0%	75.5%	25.6%	56.7%	3.1%	9.4%	3.5M	-807.8M	-4.8M	1.36	77.93	13,923	18,878	109,643	169,727
2025-07-02	$176.68	$150.00	60.7%	15.0%	74.3%	22.7%	51.9%	1.5%	7.9%	8.4M	-940.3M	-5.6M	1.16	73.69	7,070	8,194	121,094	183,770
2025-07-03	$180.73	$165.00	61.7%	19.0%	69.9%	24.3%	65.6%	5.0%	12.1%	11.2M	-1.05B	-5.9M	0.83	51.94	5,114	4,241	126,552	188,886
2025-07-07	$180.78	$170.00	70.9%	19.7%	69.5%	39.1%	68.6%	3.7%	-4.6%	9.3M	-1.02B	-5.9M	2.14	44.76	8,104	17,321	123,520	187,673
2025-07-08	$178.00	$155.00	66.7%	18.3%	70.3%	32.4%	64.1%	6.8%	-3.9%	8.3M	-919.8M	-6.6M	2.38	58.34	7,019	16,722	130,331	198,582
2025-07-09	$176.64	$150.00	64.0%	17.8%	70.6%	28.0%	60.8%	3.7%	-1.7%	5.7M	-853.6M	-7.0M	1.00	52.29	3,878	3,896	136,227	210,652
2025-07-10	$189.94	$150.00	66.0%	18.3%	72.7%	31.3%	65.0%	-1.0%	-3.2%	12.4M	-1.28B	-7.2M	1.26	56.88	13,894	17,465	137,895	212,964
2025-07-11	$192.25	$145.00	63.2%	18.0%	72.6%	26.7%	61.7%	1.2%	1.1%	15.0M	-1.35B	-7.5M	2.28	62.42	8,208	18,725	144,040	218,710
2025-07-14	$194.85	$145.00	62.9%	17.7%	71.6%	26.2%	62.4%	3.2%	-1.9%	14.9M	-1.40B	-8.1M	1.51	56.68	5,891	8,909	147,752	227,289
2025-07-15	$192.67	$150.00	64.4%	18.4%	69.4%	28.6%	65.6%	4.4%	-2.4%	13.0M	-1.31B	-8.4M	1.46	56.40	3,503	5,108	151,154	235,209
2025-07-16	$192.50	$150.00	63.4%	18.2%	69.3%	27.1%	63.3%	3.5%	-1.0%	13.0M	-1.29B	-8.5M	0.76	57.36	5,102	3,867	152,618	239,108
2025-07-17	$196.67	$155.00	63.0%	18.2%	69.0%	26.4%	64.3%	5.4%	-2.5%	14.0M	-1.43B	-8.6M	2.69	57.37	1,910	5,143	153,438	241,045
2025-07-18	$192.26	$165.00	59.9%	17.3%	70.8%	21.3%	60.4%	3.1%	-0.6%	10.4M	-1.26B	-8.5M	1.68	58.86	2,980	4,994	154,577	245,037
2025-07-21	$189.54	$170.00	57.0%	16.9%	71.5%	16.8%	59.7%	-0.1%	2.8%	5.5M	-843.5M	-8.5M	1.51	49.04	2,905	4,374	134,061	218,667
2025-07-22	$198.86	$170.00	61.1%	18.0%	67.4%	23.3%	63.5%	6.3%	0.6%	8.8M	-1.10B	-8.7M	2.58	47.22	7,041	18,168	136,053	222,687
2025-07-23	$208.25	$175.00	62.9%	19.0%	43.6%	26.2%	67.6%	2.3%	-2.6%	11.6M	-1.36B	-9.2M	1.16	46.09	13,589	15,695	141,231	233,204
2025-07-24	$207.93	$175.00	61.0%	19.1%	43.8%	23.1%	67.3%	-1.5%	-1.9%	13.0M	-1.37B	-9.5M	0.64	31.10	5,455	3,481	149,177	242,494
2025-07-25	$206.69	$175.00	61.4%	18.5%	43.6%	23.8%	66.3%	0.4%	-1.0%	16.3M	-1.30B	-9.5M	1.48	30.37	2,448	3,633	150,605	245,281
2025-07-28	$205.34	$175.00	60.5%	18.8%	40.5%	22.3%	66.1%	3.2%	-2.9%	10.0M	-1.23B	-9.4M	2.10	39.74	2,401	5,041	148,777	243,443
2025-07-29	$202.98	$180.00	61.3%	19.5%	39.5%	23.6%	71.0%	2.0%	-2.9%	8.0M	-1.13B	-9.5M	1.56	45.25	4,693	7,325	150,277	246,692
2025-07-30	$171.56	$180.00	52.0%	15.3%	74.0%	8.6%	52.3%	2.9%	-0.5%	-13.5M	50.2M	-8.3M	1.53	72.75	11,030	16,891	152,730	251,378
2025-07-31	$170.50	$180.00	51.2%	14.5%	73.4%	7.3%	50.3%	9.1%	-0.0%	-16.2M	31.0M	-8.5M	4.34	70.76	4,304	18,676	154,120	255,616