CARAvis Budget Group, Inc.
CAR Options Overview
IV is elevated with bearish flow and unusual activity. Conditions favor premium sellers.
REWARDS
RISK ANALYSIS
CAR Gamma Walls
Value
Is IV priced right?
Measures whether options are cheap, fair, or rich relative to historical and peer
IV Rank 79.6% — elevated vs history
IV/HV 1.34x — IV premium over HV
Sector percentile 79% — above sector median
Front/Back 0.91x — contango
Put/Call IV 1.16x — elevated
ATM IV 58.4% — normal range
Effective IV 71.3% (ATM 58.4% + spread 6.5% + bias) — fair
Total drag 21.73% (spread 6.46% + slippage 15.27%) — high friction
Vega efficiency 21.61 (vega 13.958 / spread 6.46%) — efficient
Sentiment
Bullish or bearish?
Analyzes
Conviction-weighted: -68% (strong bearish) — Raw: -53%
|OI skew| 21.9% — put-heavy
Vol skew -75.0%, OI skew -21.9% — aligned
0-DTE 4%, far-OTM 15%, avg DTE 30
OI change +0.0% (5d) — stable
ITM: -66%, ATM: +39%, OTM: -3% — bearish (ITM/ATM divergent)
Sector P/C percentile 95% — very bearish vs sector
Activity
Unusual activity?
Detects volume surges,
Volume 1.4x avg — normal
Vol/OI 6.3% — normal turnover
1 day(s) elevated — may be one-day event
OI change -3.5% (5d) — unwinding
Sector activity percentile 86% — very active vs sector
Large trade volume 64% — heavy institutional
Aggressive execution 21% — patient
Conviction -68 (bearish) — strong conviction
Liquidity
Can I trade efficiently?
Evaluates
Spread 6.5% — wide
OI 102,045 — deep
Volume 6,415/day — active
$0.32 to cross — cheap
7 liquid strikes — good coverage
Sector spread percentile 87% — much wider than sector
Depth 57.3 contracts (bid:23.8 ask:33.5) — thin
Avg slippage 15.27% — poor
Timing
Is now a good time?
Considers earnings proximity,
Slope -8.6% — contango
IV percentile 80% — seller opportunity
IV kink -3.3pts — no clear event
θ/ν ratio 92.26 — favors income trades
5 liquid expirations — flexible
caution advised: FOMC in 5d; CPI in 0d (HIGH)
Spread ratio 1.00x — stable
Flow -68% @ 84% consistency — STRONG directional (bearish)
Score 94 (ITM 20% + inst 64%) — HIGH institutional
Directional Strategy Fit
For educational purposes only. Not investment advice.
The Options Desk tracks the move options price into every US earnings report the week of Sep 7, next to how much each stock has actually moved on its past prints — plus the SPY, QQQ and IWM expected ranges and the gamma walls that box them in.