CART Options History — December 2025

In December 2025, CART traded between $41.89 and $46.38. ATM implied volatility averaged 34.7%, placing in the 8.1% IV rank vs the trailing year. The 30-day expected move averaged 9.8%. IV traded below realized volatility by 2.4% (HV 20d: 37.1%). Max pain ranged from $39.00 to $45.00. Net GEX was positive for 22 of 22 trading days. Term structure was in contango for 17 of 22 days. Put/call ratio averaged 0.78.

Notable Days

  • 2025-12-10: Highest Volume — 18,739 contracts
  • 2025-12-30: Largest IV spike — 14.7% change
  • 2025-12-30: Highest IV Rank — 19.7%
  • 2025-12-18: Largest Expected Move — 10.7%

Monthly Statistics

MetricAvgMinMaxOpenClose
Price$44.71$41.89$46.38$42.66$45.06
Max Pain$44.18$39.00$45.00$39.00$45.00
ATM IV34.7%30.4%39.1%34.4%34.3%
Expected Move9.8%8.8%10.7%9.6%8.8%
HV 20d37.1%33.9%40.1%38.4%34.3%
HV 60d40.3%32.7%45.2%42.2%32.7%
IV Rank8.1%0.0%19.7%6.6%8.8%
IV Percentile11.2%0.0%42.1%6.0%7.9%
Term Structure0.9%-0.6%5.8%0.5%-0.2%
VWIV34.6%31.8%38.1%34.6%31.8%
Skew 25d2.4%-1.5%13.8%-1.5%0.0%
Skew 10d5.5%-6.3%24.4%-1.0%1.3%
Call IV 25d33.9%18.8%37.6%34.0%34.8%
Put IV 25d36.3%32.5%43.5%32.5%34.8%
Bid-Ask Spread %65.9953.4677.4868.2871.07
Gamma HHI0.120.070.180.080.15
Net GEX3.6M2.4M5.0M2.8M2.7M
Net DEX-96.6M-136.3M-38.7M-55.1M-80.5M
Net VEX-578.4K-669.7K-467.9K-473.2K-597.7K
Div Yield0.0%0.0%0.0%0.0%0.0%
P/C Ratio0.780.052.460.630.15
Total Volume4,588.7731,18018,7393,1971,851
Total OI121,506.818103,633137,625103,633125,627

Daily Data (22 trading days)

DatePriceMax PainATM IVExp MoveHV 20dIV RankVWIVSkew 25dTerm StrGEXDEXVEXP/CSpread %Call WallPut WallCall VolPut VolCall OIPut OI
2025-12-01$42.66$39.0034.4%9.6%38.4%6.6%34.6%-1.5%0.5%2.8M-55.1M-473.2K0.6368.28N/AN/A1,9631,23460,53243,101
2025-12-02$41.89$39.0034.6%10.4%39.5%7.2%36.5%3.8%0.2%2.4M-38.7M-467.9K0.8873.56N/AN/A2,7222,38261,61243,771
2025-12-03$42.81$39.0034.0%10.4%39.0%5.9%36.3%3.8%1.1%3.3M-65.5M-477.7K0.7871.93N/AN/A1,12787863,49545,393
2025-12-04$42.94$45.0034.4%10.2%39.0%6.7%35.4%1.9%0.7%3.6M-70.2M-480.5K1.7257.18N/AN/A1,5812,71663,87645,743
2025-12-05$44.00$45.0033.3%10.0%35.0%4.3%34.7%1.8%2.5%4.0M-93.0M-504.3K0.7953.74N/AN/A1,9541,55364,64646,809
2025-12-08$44.78$45.0034.4%10.0%33.9%6.6%33.1%-0.3%0.2%3.4M-99.2M-471.4K0.3053.46N/AN/A3,7251,10862,15345,822
2025-12-09$46.38$45.0034.5%9.9%34.7%6.9%34.7%0.8%-0.5%3.7M-131.9M-474.6K1.1766.85N/AN/A6,4027,49462,67146,634
2025-12-10$43.36$45.0037.1%10.5%38.9%12.8%35.7%1.6%-0.5%2.6M-56.7M-521.7K0.2655.75N/AN/A14,9003,83966,59351,881
2025-12-11$44.81$45.0035.4%10.2%40.1%9.0%35.9%0.4%0.4%3.5M-102.6M-602.3K0.0559.11N/AN/A10,52957276,26252,937
2025-12-12$44.90$45.0034.5%10.0%40.1%7.0%35.6%0.4%-0.4%5.0M-124.7M-668.7K0.1764.43N/AN/A1,30822684,43853,187
2025-12-15$45.49$45.0034.9%10.1%39.2%8.0%35.6%1.9%0.8%4.3M-126.4M-647.2K0.1060.37N/AN/A2,06721180,49249,278
2025-12-16$45.75$45.0034.5%9.9%38.5%6.9%34.7%2.0%0.1%4.6M-136.3M-636.4K0.2568.84N/AN/A1,64640681,08749,340
2025-12-17$45.57$45.0036.6%10.5%38.4%11.9%36.4%0.0%-0.6%4.5M-130.2M-637.1K0.7671.00N/AN/A3,9693,01781,26049,478
2025-12-18$45.38$45.0037.4%10.7%38.5%13.6%38.1%0.7%1.2%4.8M-125.8M-669.7K1.7165.15N/AN/A1,3322,27183,46952,193
2025-12-19$45.68$45.0034.4%9.7%35.7%6.7%34.8%2.2%0.6%4.9M-130.8M-649.9K0.2370.29N/AN/A2,87266883,75652,910
2025-12-22$45.20$45.0030.4%9.4%36.2%0.0%33.5%3.0%2.4%3.6M-93.3M-630.9K1.4961.84N/AN/A9581,42474,18346,342
2025-12-23$45.05$45.0033.3%9.3%36.3%6.5%32.6%2.6%0.8%3.5M-85.3M-617.9K1.0473.30N/AN/A2,1572,25474,50047,122
2025-12-24$45.67$45.0033.2%9.1%34.7%6.3%32.8%1.9%0.4%3.7M-104.0M-646.4K2.4670.92N/AN/A5041,24276,22949,153
2025-12-26$45.95$45.0033.8%9.1%34.7%7.6%32.4%13.8%3.3%3.7M-109.5M-641.9K0.6177.48N/AN/A73344776,52950,017
2025-12-29$45.39$45.0034.1%9.6%35.1%8.4%32.8%3.2%5.8%3.0M-89.8M-606.5K0.6969.68N/AN/A75252074,27049,720
2025-12-30$44.94$45.0039.1%8.9%35.1%19.7%33.5%8.6%0.2%2.6M-76.3M-601.6K0.8967.54N/AN/A76367674,55050,089
2025-12-31$45.06$45.0034.3%8.8%34.3%8.8%31.8%0.0%-0.2%2.7M-80.5M-597.7K0.1571.07N/AN/A1,61024175,12050,507