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CVNA

Carvana Co.Close $67.91EOD only
Max Pain
$67.00
Next expiry Jun 26, 2026
Expected Move
±$3.35
4.9% from close
Price Gap
-0.91
Distance to max pain
IV Rank
52
Middle-high premium
P/C OI
0.84
Slightly call-heavy
Consensus
6.0/10
Bullish tilt
Published snapshot: Jun 24, 2026 close
End-of-day snapshot

This page reflects CVNA options positioning from the latest published market-close snapshot. Intraday price and contract changes are not displayed.

Published Snapshot
Jun 24, 2026 close
CVNA Earnings Report
Analysis based on market close June 25, 2026
DirectionalTheta GangFlowEarningsConsensus

Historical consensus-supported lens with full content, report chain context, and metric rail.

Earnings Verdict

CVNA earnings 34d out; high vol, gamma pin $67. 80% beat rate, no directional edge. IV crush expected.

Confidence:
7 / 10
base 5; +1 GEX positive (pinning); +0.5 spot 1.2% from MP; +0.5 VIX 19
Most important: Pin at $67; put floor $60; call wall $70-92. Watch spot vs MP.
📌Gamma pin $67; 80% beat rate but no pre-event edge.
📊Unusual $68C, $620C (bullish bets) and $56P (hedge).

Regime Classification

Vol Regime
High
Gamma Regime
Pinning
Flow Regime
Mixed
Spot vs MP
Below
Gamma flip: ~$60.00 — Approx — based on put OI concentration of 17,284 (9.4% below spot)

Earnings Overview

Next earnings: 2026-07-29 (34 days)explicit

Expected moves:

  • 2026-06-26 (1d): ±$2.02 (3.1%)
  • 2026-07-02 (7d): ±$5.11 (7.7%)
  • 2026-07-10 (15d): ±$7.55 (11.4%)

IV Setup

Term structure: 34d IV ~85%; 1d ±3.1%, 1w ±7.7%, 15d ±11.4%.

Crush estimate: Significant post-earnings crush (est. 30-50%).

Skew: Put skew elevated; $60 put OI concentration.

Historical Context

Beat rate: 80% (4/5 quarters)

Avg move vs expected: Avg move ±8% vs implied ±6% (1d).

Directional bias: Neutral.

Key Levels

1$60.00 gamma flip
2EM guardrails: 2d $64.17/$68.22; 1w $61.09/$71.31
3Max pain pins: $67 (2026-06-26); $66 (2026-07-02); $68 (2026-07-10)

Flow Highlights

Unusual call activity $68C and $620C high vol/oi.

Speculative upside; $68 near max pain, $620 far OTM.

Unusual put $56P vol/oi 2.0x, IV 81%.

Hedge or bearish bet pre-earnings.

Strategies

Put Calendar at $67 Pin
Sell 2026-07-24 $67.00 put / buy 2026-07-31 $67.00 put
Debit: $1.08-$1.32
Max loss: $1.32
Max gain: Variable
BE: Path-dependent
Trigger: Close near expiration or if spot breaches $60 invalidation. Liquidity warning: Liquidity constraints: long_put: Volume below 5.
Only eligible candidate; neutral bias, high IV, pin at $67.
Outperforms: Captures term structure premium by selling front-week put and buying back-week put at $67 strike.
Underperforms: Loss of support or adverse vol term shift weakens thesis.

Risk Assessment

!IV crush post-earnings.
!Gamma pinning at $67.
!Call resistance $70-92, put floor $60.

What to Watch

?Spot vs $67 max pain.
?Put OI at $60 support.
?Call wall $70-92 resistance.
?IV crush magnitude.
How to Use These Reports
This earnings reflects the market close on June 25, 2026.
What the reports do

Each report translates the same market-close options snapshot into a specific lens such as directional bias, premium-selling posture, flow quality, or earnings setup.

How traders use them

Reports are most useful for narrowing the playbook, surfacing entry and risk context, and deciding which raw data page to inspect next.

What to remember

These are interpretation layers, not execution guarantees. Validate the setup against chain liquidity, expected move, and exposure before sizing risk.

If the report conviction and the raw data disagree, slow down and resolve the mismatch before sizing risk.