CART Options History — September 2025

In September 2025, CART traded between $36.42 and $47.22. ATM implied volatility averaged 36.7%, placing in the 14.7% IV rank vs the trailing year. The 30-day expected move averaged 10.6%. IV traded below realized volatility by 6.7% (HV 20d: 43.5%). Max pain ranged from $45.00 to $45.00. Net GEX was positive for 6 of 21 trading days. Term structure was in contango for 13 of 21 days. Put/call ratio averaged 0.86.

Notable Days

  • 2025-09-10: Highest Volume — 25,315 contracts
  • 2025-09-30: Largest IV spike — 16.0% change
  • 2025-09-30: Highest IV Rank — 37.2%
  • 2025-09-30: Largest Expected Move — 12.8%

Monthly Statistics

MetricAvgMinMaxOpenClose
Price$43.74$36.42$47.22$43.87$36.42
Max Pain$45.00$45.00$45.00$45.00$45.00
ATM IV36.7%33.1%46.8%34.9%46.8%
Expected Move10.6%9.6%12.8%10.2%12.8%
HV 20d43.5%25.3%62.4%62.2%52.8%
HV 60d44.8%43.3%49.9%44.1%49.9%
IV Rank14.7%6.4%37.2%10.5%37.2%
IV Percentile23.5%2.0%66.3%10.7%66.3%
Term Structure0.8%-11.0%11.7%0.7%6.6%
VWIV36.9%33.7%45.4%35.7%45.4%
Skew 25d3.2%-0.2%8.2%3.1%4.0%
Skew 10d8.3%-10.1%34.2%10.2%-8.4%
Call IV 25d34.8%21.8%45.3%33.6%45.3%
Put IV 25d38.1%24.9%49.3%36.7%49.3%
Bid-Ask Spread %52.8139.4371.4962.1471.49
Gamma HHI0.150.100.270.180.27
Net GEX-768.2K-3.3M3.4M-2.0M-1.2M
Net DEX28.8M-31.6M107.5M40.5M107.5M
Net VEX-558.0K-597.3K-438.2K-565.6K-515.2K
Div Yield0.0%0.0%0.0%0.0%0.0%
P/C Ratio0.860.076.790.241.49
Total Volume6,526.0951,25625,3152,63817,122
Total OI107,881.23897,504126,08197,504126,081

Daily Data (21 trading days)

DatePriceMax PainATM IVExp MoveHV 20dIV RankVWIVSkew 25dTerm StrGEXDEXVEXP/CSpread %Call WallPut WallCall VolPut VolCall OIPut OI
2025-09-02$43.87$45.0034.9%10.2%62.2%10.5%35.7%3.1%0.7%-2.0M40.5M-565.6K0.2462.14N/AN/A2,12751139,81057,694
2025-09-03$44.39$45.0034.9%10.2%62.4%10.7%35.9%5.1%1.0%-1.7M32.4M-581.1K0.4865.08N/AN/A1,48972141,54358,038
2025-09-04$44.39$45.0034.6%10.0%62.4%10.0%34.7%3.0%0.7%-1.6M30.9M-571.4K0.6442.04N/AN/A1,21678442,29458,402
2025-09-05$45.16$45.0034.4%9.9%61.7%9.5%34.4%4.0%-0.5%-1.1M20.0M-581.4K0.3939.72N/AN/A90635042,59858,934
2025-09-08$45.09$45.0034.2%9.9%57.3%8.9%34.8%2.5%0.2%-1.4M21.3M-566.2K1.3140.06N/AN/A68990641,79558,264
2025-09-09$45.55$45.0033.1%9.6%57.6%6.4%33.7%3.5%-0.2%-1.1M13.2M-554.9K0.1554.21N/AN/A3,80058642,04158,876
2025-09-10$47.22$45.0036.9%11.6%59.4%14.9%39.1%3.1%1.5%282.1K-19.0M-567.8K0.1958.95N/AN/A21,2554,06043,97959,097
2025-09-11$46.30$45.0035.6%10.2%29.9%12.2%35.6%3.1%0.0%3.2M-21.8M-583.2K0.0750.83N/AN/A9,30766153,69358,958
2025-09-12$46.45$45.0036.3%10.5%29.5%13.8%36.4%-0.2%-0.2%3.4M-31.6M-597.3K0.1748.93N/AN/A4,71178956,50959,155
2025-09-15$46.39$45.0036.8%10.5%29.6%14.8%36.5%2.5%2.8%1.8M-20.3M-573.3K0.1750.89N/AN/A2,22437052,24558,097
2025-09-16$45.86$45.0036.3%10.4%26.0%13.6%37.5%2.4%-11.0%1.1M-6.5M-564.6K0.3954.35N/AN/A2,00778051,86758,331
2025-09-17$44.77$45.0035.7%10.2%26.5%12.3%34.2%2.8%-0.5%-721.4K20.5M-549.3K0.1853.75N/AN/A2,41243352,65858,795
2025-09-18$45.30$45.0035.9%10.3%25.3%12.8%35.5%8.2%-0.4%93.3K7.6M-549.4K0.3452.52N/AN/A1,85663853,73259,097
2025-09-19$41.88$45.0038.4%11.0%37.0%18.5%39.0%2.6%-0.2%-2.5M76.6M-504.5K0.2839.43N/AN/A17,3704,80253,90059,384
2025-09-22$42.41$45.0038.5%11.0%36.8%18.7%38.0%4.3%-1.0%-1.4M43.6M-577.6K0.4654.81N/AN/A3,3321,51751,01455,686
2025-09-23$42.42$45.0037.9%10.9%36.4%17.2%37.3%3.6%0.1%-1.8M45.4M-579.5K0.1757.65N/AN/A1,87932251,62556,504
2025-09-24$42.21$45.0036.6%10.6%36.5%14.4%36.7%2.1%0.9%-2.1M48.6M-566.5K2.2347.50N/AN/A6731,50052,41156,608
2025-09-25$42.38$45.0037.0%10.5%36.2%15.1%36.6%2.2%2.9%-2.3M46.0M-571.2K1.2853.13N/AN/A9141,17352,43357,722
2025-09-26$42.23$45.0036.5%10.1%35.8%14.2%35.0%3.4%2.0%-3.3M50.5M-559.3K6.7954.58N/AN/A6124,15652,82157,715
2025-09-29$37.91$45.0040.3%11.9%51.9%22.7%41.8%2.8%11.7%-1.7M99.0M-438.2K0.5556.94N/AN/A10,3855,70348,87156,229
2025-09-30$36.42$45.0046.8%12.8%52.8%37.2%45.4%4.0%6.6%-1.2M107.5M-515.2K1.4971.49N/AN/A6,88710,23562,98563,096