CART Options History — January 2025

In January 2025, CART traded between $42.87 and $48.67. ATM implied volatility averaged 43.6%, placing in the 14.9% IV rank vs the trailing year. The 30-day expected move averaged 12.1%. IV traded above realized volatility by 2.4% (HV 20d: 41.2%). Max pain ranged from $39.00 to $44.00. Net GEX was positive for 20 of 20 trading days. Term structure was in contango for 14 of 20 days. Put/call ratio averaged 0.57.

Notable Days

  • 2025-01-21: Highest Volume — 9,800 contracts
  • 2025-01-21: Largest IV drop — 16.4% change
  • 2025-01-31: Highest IV Rank — 24.6%
  • 2025-01-14: Largest Expected Move — 14.2%

Monthly Statistics

MetricAvgMinMaxOpenClose
Price$45.61$42.87$48.67$43.02$48.19
Max Pain$42.25$39.00$44.00$39.00$44.00
ATM IV43.6%35.4%52.4%38.7%52.4%
Expected Move12.1%10.2%14.2%11.0%11.2%
HV 20d41.2%35.5%44.3%39.0%40.2%
HV 60d43.2%40.9%44.5%41.4%44.5%
IV Rank14.9%5.8%24.6%9.5%24.6%
IV Percentile44.3%7.1%69.8%31.3%69.8%
Term Structure3.9%-4.3%12.3%4.0%-1.9%
VWIV42.5%35.6%49.8%39.1%39.3%
Skew 25d2.0%-25.1%21.6%1.1%-21.6%
Skew 10d3.6%-34.6%27.9%12.6%6.7%
Call IV 25d41.0%23.8%54.2%37.6%54.2%
Put IV 25d43.0%28.5%58.6%38.7%32.6%
Bid-Ask Spread %42.3023.0858.5154.1247.45
Gamma HHI0.170.090.580.090.17
Net GEX1.7M208.8K8.0M208.8K1.8M
Net DEX-65.2M-103.4M-27.8M-54.7M-66.3M
Net VEX-325.4K-373.2K-296.6K-322.8K-373.2K
Div Yield0.0%0.0%0.0%0.0%0.0%
P/C Ratio0.570.111.741.150.35
Total Volume3,961.61,0479,8002,2353,325
Total OI65,425.544,41978,77373,57358,605

Daily Data (20 trading days)

DatePriceMax PainATM IVExp MoveHV 20dIV RankVWIVSkew 25dTerm StrGEXDEXVEXP/CSpread %Call WallPut WallCall VolPut VolCall OIPut OI
2025-01-02$43.02$39.0038.7%11.0%39.0%9.5%39.1%1.1%4.0%208.8K-54.7M-322.8K1.1554.12N/AN/A1,0391,19635,67837,895
2025-01-03$44.79$39.0038.0%10.3%38.3%8.7%36.2%2.8%3.4%1.7M-79.9M-314.0K0.7453.31N/AN/A1,8121,33935,88737,930
2025-01-06$44.23$40.0040.8%13.5%35.5%11.8%47.5%8.2%7.7%1.1M-71.5M-307.9K0.4223.08N/AN/A2,9931,25435,53337,121
2025-01-07$42.87$41.0040.5%13.6%37.2%11.4%47.5%10.8%7.8%450.0K-53.4M-318.9K0.9223.72N/AN/A54550236,17937,725
2025-01-08$45.00$41.0042.2%13.8%39.1%13.3%48.5%2.4%5.0%1.6M-79.5M-309.4K0.6525.32N/AN/A2,5371,63836,30837,873
2025-01-10$43.93$41.0045.1%14.2%40.2%16.5%49.4%-5.1%7.6%1.1M-67.2M-305.8K0.2732.08N/AN/A2,02954136,57038,295
2025-01-13$44.46$41.0047.0%14.2%39.9%18.6%49.6%21.6%-0.8%1.4M-73.2M-304.8K0.3324.55N/AN/A1,98364936,66637,049
2025-01-14$46.31$41.0047.7%14.2%42.1%19.4%49.8%0.2%11.6%1.9M-95.8M-296.6K0.1133.65N/AN/A8,07891936,43237,213
2025-01-15$45.23$42.0050.5%13.9%43.2%22.5%47.8%8.8%-0.1%2.5M-88.6M-305.1K0.2142.45N/AN/A4,60995839,35137,917
2025-01-16$46.53$42.0046.7%13.3%43.5%18.3%46.7%3.7%-0.4%2.9M-103.4M-307.1K0.3440.40N/AN/A2,53286039,63038,189
2025-01-17$46.09$43.0044.3%12.9%43.8%15.6%45.9%20.6%1.6%2.5M-97.6M-310.3K1.0739.49N/AN/A2,2602,42440,19238,581
2025-01-21$46.39$43.0037.0%10.6%42.0%7.5%37.6%1.5%8.2%1.0M-47.1M-307.1K1.7446.78N/AN/A3,5716,22923,88620,533
2025-01-22$44.85$44.0035.4%10.2%44.2%5.8%35.6%1.0%-2.2%297.0K-27.8M-343.1K0.6045.04N/AN/A1,24574226,18326,276
2025-01-23$45.34$44.0037.4%10.2%44.2%8.0%35.7%0.5%8.1%429.5K-33.5M-346.1K0.1158.51N/AN/A3,68441326,61626,972
2025-01-24$46.06$44.0039.7%10.2%44.3%10.6%36.2%1.1%12.3%8.0M-47.4M-342.7K0.2552.24N/AN/A1,99049729,21327,233
2025-01-27$45.75$44.0042.9%10.7%42.8%14.1%39.3%-1.9%8.5%538.8K-37.3M-344.3K1.3750.09N/AN/A7601,04126,71026,508
2025-01-28$46.61$44.0047.9%10.6%43.2%19.6%37.0%-1.4%0.2%957.4K-46.4M-342.4K0.3853.94N/AN/A96136627,07226,297
2025-01-29$47.91$44.0051.9%11.5%40.7%24.1%40.2%-25.1%2.4%1.2M-60.2M-341.4K0.1852.19N/AN/A5,14793427,61726,566
2025-01-30$48.67$44.0045.9%11.5%40.8%17.5%40.1%10.8%-4.3%1.7M-73.4M-365.0K0.1947.49N/AN/A4,73789331,08826,921
2025-01-31$48.19$44.0052.4%11.2%40.2%24.6%39.3%-21.6%-1.9%1.8M-66.3M-373.2K0.3547.45N/AN/A2,46785831,42427,181