CARAvis Budget Group, Inc.
Options Analysis Report•SERVICES-AUTO RENTAL & LEASING (NO DRIVERS)
Market Cap $5.3B|NASDAQ
● 2026-05-15$148.76
BEARISH
Analysis: 2026-05-14 EOD data
1Y +40.8%YTD +16.0%7D +2.1%
Options Vol
26,432
30D
Implied Move
±17.3%
IV Rank
13%
CAR Options Overview
IV is elevated with bearish flow and unusual activity. No clear edge detected.
REWARDS
RISK ANALYSIS
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Value
Is IV priced right?
5.4
ExpensiveCheap
Measures whether options are cheap, fair, or rich relative to historical and peer
IV
levels.Risk Checks5/9 checks passed
IV Rank
≤35%IV Rank 77.8% — elevated vs history
IV/HV Ratio
<1.05xIV/HV 0.22x — IV ≤ HV
Sector Relative≤50%
Sector percentile 79% — above sector median
Term Structure
<1.1xFront/Back 0.99x — contango
Skew Normal
<1.25xPut/Call IV 1.16x — elevated
Absolute IV
<80%ATM IV 67.4% — normal range
Spread-Adjusted Value
<80%Effective IV 103.5% (ATM 67.4% + spread 18.1% + bias) — expensive
Execution Efficiency
<3.0%Total drag 26.56% (spread 18.05% + slippage 8.51%) — high friction
Vega Efficiency
≥5.0Vega efficiency 37.48 (vega 67.644 / spread 18.05%) — efficient
Sentiment
Bullish or bearish?
2.7
BearishBullish
Analyzes
put/call ratios
, open interest skew
, and flow direction to determine market bias.Risk ChecksBearish - Strong signal (Conviction: -23%, Raw: -12%)
Flow Direction
|net sentiment| ≥25%Conviction-weighted: -23% (bearish) — Raw: -12%
OI Skew Magnitude
≥15%|OI skew| 16.1% — put-heavy
Volume-OI Alignment
Same sign, |vol skew| ≥10%Vol skew -46.1%, OI skew -16.1% — aligned
Conviction Quality
≥2/3 conditions0-DTE 33%, far-OTM 15%, avg DTE 30
OI Momentum
|change| ≥3%OI change +0.0% (5d) — stable
Smart Money Flow
|weighted flow| ≥20%ITM: -20%, ATM: -4%, OTM: -12% — bearish (ITM/ATM aligned)
Sector Relative≤40% or ≥60%
Sector P/C percentile 91% — very bearish vs sector
Activity
Unusual activity?
4.2
QuietActive
Detects volume surges,
block trades
, and unusual options activity that may signal moves.Risk Checks2/9 checks passed
Volume Surge
≥1.5xVolume 0.3x avg — normal
Turnover Rate
≥15%Vol/OI 8.8% — normal turnover
Strike Concentration
≥60%Top 3 strikes = 50% — dispersed
Multi-Day Persistence
≥2 days1 day(s) elevated — may be one-day event
OI Build
≥5%OI change +5.2% (5d) — building
Sector Relative≥60%
Sector activity percentile 81% — very active vs sector
Trade Quality
≥30%Large trade volume 23% — mixed
Execution Urgency
≥60%Aggressive execution 29% — patient
Flow Conviction
≥30Conviction -23 (bearish) — mixed
Liquidity
Can I trade efficiently?
3.6
IlliquidLiquid
Evaluates
bid-ask spreads
, volume depth, and open interest for trade execution quality.Risk Checks3/8 checks passed
Tradeable Spread
≤5.0%Spread 18.1% — wide
Adequate OI
≥10,000OI 299,033 — deep
Active Volume
≥500Volume 26,432/day — active
Reasonable Cost
≤$0.50$0.90 to cross — expensive
Strike Coverage
≥5 strikes0 liquid strikes — limited options
Sector Relative≤40%
Sector spread percentile 87% — much wider than sector
Order Book Depth
≥100 contractsDepth 138.4 contracts (bid:50.7 ask:87.7) — adequate
Execution Quality
<1.0%Avg slippage 8.51% — poor
Timing
Is now a good time?
6.8
RiskyFavorable
Considers earnings proximity,
time decay
, and event calendar for optimal entry timing.Risk Checks6/9 checks passed
Term Structure Clarity
|slope| ≥5%Slope -1.3% — flat/unclear
IV Percentile Clarity
<30 or >70IV percentile 78% — seller opportunity
Event Detection
≥10pts kinkIV kink 1.9pts — no clear event
Theta/Vega Clarity
<0.5 or >2.0θ/ν ratio 1565.84 — favors income trades
Expiration Distribution
≥3 expirations5 liquid expirations — flexible
Event Risk
≥60% (safe)safe window: No earnings detected
Spread Momentum
<1.2 ratioSpread ratio 1.00x — stable
Flow Momentum
≥25% strength + ≥50% consistencyFlow -23% @ 61% consistency — unclear
Smart Money Timing
≥40 composite scoreScore 53 (ITM 20% + inst 23%) — moderate institutional
Directional Strategy Fit
Option Buyers
Long Calls4.4
bullishIV fair, bearish flow
Long Puts6.0
bearishIV fair, bearish flow
Premium Sellers
Cash-Secured Put4.1
bullishIV fair, bearish flow
Covered Call5.4
bearishIV fair, bearish flow
For educational purposes only. Not investment advice.