CARAvis Budget Group, Inc.
Options Analysis Report•SERVICES-AUTO RENTAL & LEASING (NO DRIVERS)
Market Cap $6.6B|NASDAQ
● 2026-06-12$187.12
NEUTRAL
Analysis: 2026-06-11 EOD data
1Y +53.5%YTD +45.9%7D +5.8%
Options Vol
13,388
30D
Implied Move
±16.3%
IV Rank
11%
CAR Options Overview
IV is elevated. Conditions favor premium sellers.
REWARDS
RISK ANALYSIS
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Value
Is IV priced right?
4.1
ExpensiveCheap
Measures whether options are cheap, fair, or rich relative to historical and peer
IV
levels.Risk Checks4/9 checks passed
IV Rank
≤35%IV Rank 78.9% — elevated vs history
IV/HV Ratio
<1.05xIV/HV 1.74x — IV premium over HV
Sector Relative≤50%
Sector percentile 77% — above sector median
Term Structure
<1.1xFront/Back 0.97x — contango
Skew Normal
<1.25xPut/Call IV 1.16x — elevated
Absolute IV
<80%ATM IV 64.2% — normal range
Spread-Adjusted Value
<80%Effective IV 99.7% (ATM 64.2% + spread 17.8% + bias) — expensive
Execution Efficiency
<3.0%Total drag 24.77% (spread 17.75% + slippage 7.02%) — high friction
Vega Efficiency
≥5.0Vega efficiency 53.92 (vega 95.709 / spread 17.75%) — efficient
Sentiment
Bullish or bearish?
6.0
BearishBullish
Analyzes
put/call ratios
, open interest skew
, and flow direction to determine market bias.Risk ChecksBullish - Moderate signal (Conviction: +11%, Raw: +5%)
Flow Direction
|net sentiment| ≥25%Conviction-weighted: +11% (bullish) — Raw: +5%
OI Skew Magnitude
≥15%|OI skew| 16.8% — put-heavy
Volume-OI Alignment
Same sign, |vol skew| ≥10%Vol skew +43.1%, OI skew -16.8% — divergent (opposite)
Conviction Quality
≥2/3 conditions0-DTE 42%, far-OTM 15%, avg DTE 30
OI Momentum
|change| ≥3%OI change +0.0% (5d) — stable
Smart Money Flow
|weighted flow| ≥20%ITM: +44%, ATM: -8%, OTM: -0% — bullish (ITM/ATM divergent)
Sector Relative≤40% or ≥60%
Sector P/C percentile 39% — bullish vs sector
Activity
Unusual activity?
3.7
QuietActive
Detects volume surges,
block trades
, and unusual options activity that may signal moves.Risk Checks2/9 checks passed
Volume Surge
≥1.5xVolume 0.8x avg — normal
Turnover Rate
≥15%Vol/OI 5.5% — 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 +7.8% (5d) — building
Sector Relative≥60%
Sector activity percentile 76% — active vs sector
Trade Quality
≥30%Large trade volume 13% — mostly retail
Execution Urgency
≥60%Aggressive execution 29% — patient
Flow Conviction
≥30Conviction +11 (bullish) — 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 17.8% — wide
Adequate OI
≥10,000OI 243,625 — deep
Active Volume
≥500Volume 13,388/day — active
Reasonable Cost
≤$0.50$0.89 to cross — expensive
Strike Coverage
≥5 strikes1 liquid strikes — limited options
Sector Relative≤40%
Sector spread percentile 86% — much wider than sector
Order Book Depth
≥100 contractsDepth 113.80000000000001 contracts (bid:45.6 ask:68.2) — adequate
Execution Quality
<1.0%Avg slippage 7.02% — poor
Timing
Is now a good time?
6.4
RiskyFavorable
Considers earnings proximity,
time decay
, and event calendar for optimal entry timing.Risk Checks6/9 checks passed
Term Structure Clarity
|slope| ≥5%Slope -3.1% — flat/unclear
IV Percentile Clarity
<30 or >70IV percentile 79% — seller opportunity
Event Detection
≥10pts kinkIV kink 0.4pts — no clear event
Theta/Vega Clarity
<0.5 or >2.0θ/ν ratio 2155.61 — favors income trades
Expiration Distribution
≥3 expirations5 liquid expirations — flexible
Event Risk
≥60% (safe)acceptable: No earnings detected; FOMC in 5d
Spread Momentum
<1.2 ratioSpread ratio 1.00x — stable
Flow Momentum
≥25% strength + ≥50% consistencyFlow +11% @ 55% consistency — unclear
Smart Money Timing
≥40 composite scoreScore 43 (ITM 20% + inst 13%) — moderate institutional
Directional Strategy Fit
Option Buyers
Long Calls5.0
bullishIV fair, mixed flow
Long Puts4.3
bearishIV fair, mixed flow
Premium Sellers
Cash-Secured Put5.6
bullishIV fair, mixed flow
Covered Call4.9
bearishIV fair, mixed flow
For educational purposes only. Not investment advice.