Home Options CVNAReports

CVNA

Carvana Co.Close $64.10EOD only

Max Pain

$76.00

Next expiry Jun 18, 2026

Expected Move

±$4.46

7.0% from close

Price Gap

+11.90

Distance to max pain

IV Rank

High premium

P/C OI

0.86

Slightly call-heavy

Consensus

4.0/10

Consensus signal

Published snapshot: Jun 12, 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 12, 2026 close

CVNA Flow Report

Analysis based on market close June 15, 2026

Directional Theta Gang Flow Earnings Consensus

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

Flow Verdict

Confidence:

5 / 10

base 5; -1 GEX/flow contradict; +1 GEX positive (pinning); -1 spot 6.9% from MP; +1 VIX 16

Watch next session: $60 gamma flip level; VIX trend; QQQ leadership

Flow Summary

Net premium: -$2.3M bearish

P/C volume ratio: 1.32

P/C OI ratio: 0.86

Mixed flow: bearish volume skew but gamma pinning limits downside near $60. GEX not yet positive; VIX support present. Need confirmation from price action.

Notable Prints

CVNA 2026-07-10 $68.00 Call

Vol: 738

OI: 205

Vol/OI: 3.6x

IV: 69.6%

Notional: ~$381K

Intent: Bull

Read-through: Up

CVNA 2026-06-18 $71.00 Call

Vol: 743

OI: 267

Vol/OI: 2.8x

IV: 71.2%

Notional: ~$86K

Intent: Bull

Read-through: Up

CVNA 2026-09-18 $620.00 Call

Vol: 485

OI: 191

Vol/OI: 2.5x

IV: 50.0%

Notional: ~$420K

Intent: Bull

Read-through: Up

CVNA 2026-07-17 $58.00 Put

Vol: 4,391

OI: 1,939

Vol/OI: 2.3x

IV: 70.3%

Notional: ~$694K

Intent: Bear

Read-through: Down

CVNA 2026-06-26 $70.00 Call

Vol: 1,132

OI: 524

Vol/OI: 2.2x

IV: 70.0%

Notional: ~$338K

Intent: Bull

Read-through: Up

Institutional Positioning

Call additions: Calls added at $68, $71, $620, $69-$70.50, $86 strikes across multiple expirations.

Put additions: Puts added at $58 (4.4k vol), $72, $68.

GEX/DEX consistency: GEX positive ($9M) and DEX positive (41.6M shares) but flow bearish (put/call vol 1.32, net premium -$2.3M) — inconsistent, suggesting hedging.

OI clusters: Largest OI: $58 put (1,939), $70 call (524), $69 call (233).

Hedging evidence: Heavy $58 put volume likely protective hedging against downside.

Max pain context: Spot below MP; Gamma pinning at $60 (flip) may attract price towards that level.

Signal vs Noise

~Heavy put volume at $58 is signal – hedging activity.

~Multiple call additions at various strikes indicate speculative upside positioning.

~Net premium negative and put/call volume >1 signal bearish flow.

~GEX positive but flow bearish is noise – likely due to dealer hedging.

Key Conclusions

🛡️Institutions hedging downside with $58 puts; spot below MP suggests vulnerability.

📈Calls added at out-of-the-money strikes ($71, $86) show speculative bullish bets.

⚖️GEX pinning at $60; spot 6.9% below MP creates squeeze potential.

How to Use These Reports

This flow reflects the market close on June 15, 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.