CART Options History — March 2025

In March 2025, CART traded between $37.51 and $41.72. ATM implied volatility averaged 43.8%, placing in the 29.5% IV rank vs the trailing year. The 30-day expected move averaged 14.1%. IV traded below realized volatility by 16.8% (HV 20d: 60.6%). Max pain ranged from $38.00 to $48.00. Net GEX was positive for 5 of 21 trading days. Term structure was in contango for 11 of 21 days. Put/call ratio averaged 1.18.

Notable Days

  • 2025-03-03: Highest Volume — 6,702 contracts
  • 2025-03-04: Largest IV spike — 30.5% change
  • 2025-03-10: Highest IV Rank — 49.0%
  • 2025-03-10: Largest Expected Move — 17.0%

Monthly Statistics

MetricAvgMinMaxOpenClose
Price$39.36$37.51$41.72$38.53$39.70
Max Pain$43.90$38.00$48.00$46.00$43.00
ATM IV43.8%35.2%52.8%35.2%45.5%
Expected Move14.1%12.9%17.0%12.9%14.6%
HV 20d60.6%43.9%68.0%61.2%43.9%
HV 60d48.8%46.5%50.5%48.0%50.1%
IV Rank29.5%11.0%49.0%11.0%33.2%
IV Percentile49.5%5.6%75.4%5.6%58.3%
Term Structure0.9%-2.7%11.2%11.2%7.1%
VWIV48.9%45.0%59.7%45.0%51.3%
Skew 25d5.7%-14.1%22.6%22.6%6.5%
Skew 10d12.9%-9.6%33.5%-9.6%17.2%
Call IV 25d39.3%18.8%49.8%23.4%41.2%
Put IV 25d45.0%20.5%58.0%46.0%47.7%
Bid-Ask Spread %50.408.4277.0865.6415.44
Gamma HHI0.120.090.340.120.11
Net GEX-415.9K-2.7M1.5M-826.2K-461.1K
Net DEX11.4M-25.6M31.8M28.1M5.9M
Net VEX-402.1K-430.7K-378.7K-387.7K-378.7K
Div Yield0.0%0.0%0.0%0.0%0.0%
P/C Ratio1.180.153.761.601.06
Total Volume2,871.7626976,7026,702697
Total OI75,846.85770,48079,89874,84370,480

Daily Data (21 trading days)

DatePriceMax PainATM IVExp MoveHV 20dIV RankVWIVSkew 25dTerm StrGEXDEXVEXP/CSpread %Call WallPut WallCall VolPut VolCall OIPut OI
2025-03-03$38.53$46.0035.2%12.9%61.2%11.0%45.0%22.6%11.2%-826.2K28.1M-387.7K1.6065.64N/AN/A2,5754,12742,04432,799
2025-03-04$38.67$46.0046.0%14.1%61.4%34.3%48.6%3.5%-2.7%-855.7K24.6M-402.2K1.6264.77N/AN/A1,9893,22142,82333,603
2025-03-05$38.53$46.0046.7%13.0%60.5%35.9%45.6%4.9%0.0%-829.4K25.3M-402.1K0.6968.77N/AN/A63644244,19934,420
2025-03-06$37.69$46.0046.6%14.3%60.6%35.7%49.3%4.4%0.4%-846.8K31.8M-387.2K1.7070.79N/AN/A1,0861,84344,58834,273
2025-03-07$39.70$45.0044.3%13.1%64.8%30.6%47.2%4.3%-0.4%-1.0M12.8M-430.7K3.3166.69N/AN/A1,0263,39744,87235,026
2025-03-10$38.59$45.0052.8%17.0%64.1%49.0%59.7%-14.1%-2.4%-559.1K20.6M-407.8K0.9365.20N/AN/A1,8451,70940,62732,811
2025-03-11$38.50$44.0051.2%17.0%63.1%45.5%57.3%8.4%-1.4%-554.2K20.4M-405.8K1.2468.85N/AN/A1,5421,91640,99333,051
2025-03-12$38.71$44.0048.2%15.3%63.4%39.1%51.2%8.0%-0.1%-632.5K20.3M-408.3K0.9871.93N/AN/A53452141,72833,946
2025-03-13$37.51$44.0048.3%15.6%63.3%39.4%54.3%5.5%-1.0%-784.1K31.8M-384.9K1.3075.11N/AN/A1,6132,09841,77634,099
2025-03-14$38.47$43.0043.3%13.5%64.8%28.5%46.2%5.7%0.2%-803.5K23.9M-401.9K3.7677.08N/AN/A5271,98042,57734,577
2025-03-17$40.64$42.0043.2%13.4%68.0%28.2%46.6%4.4%-0.3%-334.6K-1.1M-420.8K0.4248.74N/AN/A3,0881,29341,03433,632
2025-03-18$40.07$42.0045.5%13.6%67.8%33.2%47.8%5.5%-2.3%-65.6K1.5M-424.7K0.5044.02N/AN/A1,25262643,25634,087
2025-03-19$40.19$42.0042.7%13.1%62.4%27.2%46.7%5.7%-0.8%74.4K1.0M-410.5K0.5749.15N/AN/A56132043,86434,288
2025-03-20$39.02$0.0042.1%13.2%62.6%25.9%46.4%5.8%0.1%-545.9K17.0M-391.2K0.7376.59N/AN/A2,1311,55144,19434,322
2025-03-21$38.96$48.0041.1%14.0%62.7%23.6%46.7%4.7%2.0%-2.7M16.1M-382.8K0.308.42N/AN/A1,58547943,11933,625
2025-03-24$40.95$45.0038.1%13.4%65.0%17.2%45.5%17.2%1.6%179.8K-8.8M-401.3K0.1725.63N/AN/A3,58662440,18631,063
2025-03-25$41.72$38.0037.4%13.4%65.6%15.8%46.0%1.7%0.7%1.5M-25.6M-417.9K1.0425.94N/AN/A63866543,47531,272
2025-03-26$40.28$43.0039.8%14.0%50.2%20.9%48.6%4.7%-0.2%767.1K-4.9M-405.1K0.1523.79N/AN/A3,35849043,63931,518
2025-03-27$40.55$43.0039.3%13.7%47.9%19.8%48.1%5.3%4.2%1.0M-8.9M-406.3K1.1224.54N/AN/A62870343,80131,539
2025-03-28$39.52$43.0041.7%14.3%48.8%25.0%49.7%5.1%2.5%-505.6K7.3M-386.9K1.6021.35N/AN/A54086543,76231,796
2025-03-31$39.70$43.0045.5%14.6%43.9%33.2%51.3%6.5%7.1%-461.1K5.9M-378.7K1.0615.44N/AN/A33835939,04231,438