CAR Options History — September 2025

In September 2025, CAR traded between $152.84 and $164.63. ATM implied volatility averaged 47.6%, placing in the 9.9% IV rank vs the trailing year. The 30-day expected move averaged 13.6%. IV traded above realized volatility by 16.5% (HV 20d: 31.1%). Max pain ranged from $155.00 to $160.00. Net GEX was positive for 3 of 21 trading days. Term structure was in contango for 15 of 21 days. Put/call ratio averaged 1.12.

Notable Days

  • 2025-09-04: Highest Volume — 10,426 contracts
  • 2025-09-29: Largest IV spike — 12.0% change
  • 2025-09-29: Highest IV Rank — 18.2%
  • 2025-09-24: Largest Expected Move — 14.2%

Monthly Statistics

MetricAvgMinMaxOpenClose
Price$157.80$152.84$164.63$161.74$158.62
Max Pain$155.95$155.00$160.00$155.00$160.00
ATM IV47.6%45.0%53.2%45.6%52.2%
Expected Move13.6%12.8%14.2%12.8%14.1%
HV 20d31.1%23.2%38.8%37.2%24.1%
HV 60d57.7%49.5%64.5%64.5%49.6%
IV Rank9.9%6.0%18.2%7.0%16.7%
IV Percentile11.7%5.6%28.6%5.6%25.8%
Term Structure2.0%-1.4%6.9%0.3%4.4%
VWIV47.0%44.7%51.6%44.8%46.4%
Skew 25d4.3%1.8%7.4%5.8%3.4%
Skew 10d7.5%-4.1%14.6%8.3%-4.1%
Call IV 25d45.2%40.9%51.8%42.2%51.8%
Put IV 25d49.5%47.2%56.9%47.9%55.2%
Bid-Ask Spread %51.4539.9667.1961.6555.66
Gamma HHI0.060.050.240.050.05
Net GEX-4.3M-19.1M2.6M-3.2M-1.5M
Net DEX156.0M-17.8M306.7M12.0M149.6M
Net VEX-7.2M-7.8M-6.7M-7.8M-6.7M
Div Yield0.0%0.0%0.0%0.0%0.0%
P/C Ratio1.120.337.440.500.50
Total Volume3,053.57175410,4261,2372,143
Total OI323,808.048298,095339,214326,822304,017

Daily Data (21 trading days)

DatePriceMax PainATM IVExp MoveHV 20dIV RankVWIVSkew 25dTerm StrGEXDEXVEXP/CSpread %Call VolPut VolCall OIPut OI
2025-09-02$161.74$155.0045.6%12.8%37.2%7.0%44.8%5.8%0.3%-3.2M12.0M-7.8M0.5061.65823414139,454187,368
2025-09-03$156.83$155.0046.9%13.1%38.8%8.9%45.1%4.1%-0.5%-4.5M152.5M-7.5M1.2867.19528675139,970187,601
2025-09-04$156.30$155.0045.9%13.7%38.2%7.4%46.0%4.6%0.1%-5.6M195.8M-7.4M0.7842.705,8434,583140,359188,083
2025-09-05$155.74$155.0046.0%13.9%38.2%7.6%47.6%7.4%1.9%-5.5M196.6M-7.4M0.4046.813,1951,273143,295191,102
2025-09-08$158.93$155.0046.4%13.5%38.5%8.2%46.4%5.3%0.9%-4.2M109.1M-7.5M0.5245.871,714895143,968192,171
2025-09-09$158.25$155.0046.2%13.3%38.4%7.8%47.5%4.7%0.3%-4.2M133.5M-7.4M2.2949.714561,045144,529191,704
2025-09-10$156.74$155.0045.1%13.4%35.9%6.2%45.8%4.5%2.3%-5.7M199.0M-7.3M0.7750.31427327144,895192,415
2025-09-11$156.93$155.0045.0%13.4%35.2%6.0%45.3%3.1%3.2%-5.6M166.1M-7.4M0.7256.051,6231,176145,135192,472
2025-09-12$155.65$155.0046.4%13.5%34.0%8.1%44.7%7.1%1.3%-11.6M212.8M-7.2M0.9754.291,8161,766146,064193,150
2025-09-15$152.84$155.0046.6%13.5%34.3%8.5%47.8%3.2%-0.6%-6.8M306.7M-6.9M0.5659.12692388145,134191,771
2025-09-16$154.88$155.0047.3%13.6%33.6%9.4%46.1%3.7%-0.8%-5.7M256.8M-7.0M0.9957.531,3871,371145,523191,863
2025-09-17$154.00$155.0047.9%13.7%32.6%10.4%46.4%3.2%-1.3%-5.6M269.3M-7.0M0.4360.691,159493146,071192,944
2025-09-18$156.07$155.0047.5%13.7%25.7%9.7%47.8%3.5%-1.4%-3.3M156.7M-7.0M7.4452.051,1608,627146,573190,245
2025-09-19$154.81$155.0048.6%14.0%24.8%11.4%49.3%1.8%-0.9%-19.1M217.7M-6.9M1.5849.961,0801,707146,741190,066
2025-09-22$158.59$155.0048.5%14.0%24.1%11.3%48.5%3.5%4.1%-1.2M146.5M-7.0M0.9545.91799760133,227164,868
2025-09-23$159.79$155.0048.5%14.2%23.6%11.3%49.2%4.0%6.4%-257.7K116.2M-7.0M0.4939.961,538748133,779164,912
2025-09-24$160.77$155.0047.9%14.2%23.5%10.3%48.8%3.7%6.5%112.1K96.5M-7.0M1.0142.592,1172,131134,048165,494
2025-09-25$164.63$160.0049.9%14.0%23.2%13.3%48.0%2.5%6.4%2.6M-17.8M-7.3M0.5942.422,2371,312135,196166,915
2025-09-26$160.71$160.0047.5%13.0%24.8%9.8%44.9%4.7%6.9%320.2K100.9M-7.0M0.3345.961,534500136,502167,614
2025-09-29$161.07$160.0053.2%14.0%24.8%18.2%51.6%6.1%2.9%-264.5K98.5M-6.8M0.4954.061,114549136,020166,711
2025-09-30$158.62$160.0052.2%14.1%24.1%16.7%46.4%3.4%4.4%-1.5M149.6M-6.7M0.5055.661,426717136,946167,071