Home Options CVNAReports

CVNA

Carvana Co.Close $66.19EOD only

Max Pain

$67.00

Next expiry Jun 5, 2026

Expected Move

±$2.13

3.2% from close

Price Gap

+0.81

Distance to max pain

IV Rank

Middle-high premium

P/C OI

0.87

Slightly call-heavy

Consensus

6.5/10

Bullish tilt

Published snapshot: Jun 4, 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 4, 2026 close

CVNA Flow Report

Analysis based on market close June 4, 2026

Directional Theta Gang Flow Earnings Consensus

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

Flow Verdict

Confidence:

7.5 / 10

base 5; +1 GEX positive (pinning); +0.5 spot 1.2% from MP; +1 VIX 15

Watch next session: CVNA 2026-06-05 $77.50 Call; CVNA 2026-06-05 $63.00 Put; CVNA 2026-07-17 $68.00 Call

Flow Summary

Net premium: -$258K bearish

P/C volume ratio: 0.90

P/C OI ratio: 0.87

Net premium -$1.2M (puts dominate notional), but call OI rose 30% vs puts 15%. Gamma flip at $60 confirmed by dealer delta hedging. Mixed flow suggests range-bound with call volume supporting resistance.

Notable Prints

CVNA 2026-09-18 $620.00 Call

Vol: 485

OI: 191

Vol/OI: 2.5x

IV: 50.0%

Notional: ~$420K

Intent: Speculative bullish

Read-through: Low prob high upside

CVNA 2026-06-05 $63.00 Put

Vol: 814

OI: 355

Vol/OI: 2.3x

IV: 57.2%

Notional: ~$12K

Intent: Bearish expiration bet

Dual read: Closing long put

Read-through: Short-term bearish

CVNA 2026-07-17 $68.00 Call

Vol: 1,828

OI: 875

Vol/OI: 2.1x

IV: 71.1%

Notional: ~$1.0M

Intent: Bullish ATM volatility

Dual read: Part of spread

Read-through: Moderate bullish

CVNA 2026-06-12 $70.00 Call

Vol: 404

OI: 227

Vol/OI: 1.8x

IV: 69.5%

Notional: ~$60K

Intent: Bullish short-term

Dual read: Selling vol

Read-through: Short-term upside

CVNA 2026-06-05 $77.50 Call

Vol: 2,410

OI: 1,435

Vol/OI: 1.7x

IV: 103.9%

Notional: ~$17K

Intent: Speculative lotto

Dual read: Covering short

Read-through: High IV, low prob

Institutional Positioning

Call additions: Calls at 68,70,72,620 strikes.

Put additions: Put at 63 strike.

GEX/DEX consistency: GEX +$3.2M, DEX +43.6M, but net negative premium; mixed signal.

OI clusters: Put OI cluster at 60 gamma flip.

Hedging evidence: 0dte 63P hedges downside.

Max pain context: Spot below MP; pinning near 60.

Signal vs Noise

~Signal: positive GEX/DEX, call accumulation, hedge put.

~Noise: 0dte high IV trades in 77.5C and 63P.

Key Conclusions

🟢GEX/DEX bullish, but net negative premium; flow mixed.

⚡Long-dated calls added at 68-72; bullish conviction.

⚠️0dte trades are noise; ignore lottery tickets.

How to Use These Reports

This flow reflects the market close on June 4, 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.