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CVNA

Carvana Co.Close $66.56EOD only

Max Pain

$66.00

Next expiry Jun 26, 2026

Expected Move

±$5.53

8.3% from close

Price Gap

-0.56

Distance to max pain

IV Rank

100

High premium

P/C OI

0.84

Slightly call-heavy

Consensus

8.0/10

Bullish tilt

Published snapshot: Jun 18, 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 18, 2026 close

CVNA Flow Report

Analysis based on market close June 18, 2026

Directional Theta Gang Flow Earnings Consensus

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

Flow Verdict

Confidence:

8.5 / 10

base 5; +2 GEX/flow strongly aligned; +1 GEX positive (pinning); -0.5 spot 4.9% from MP; +1 VIX 16

Watch next session: Deep OTM put hedging unwind; Expiry call gamma

Flow Summary

Net premium: +$3.7M bullish

P/C volume ratio: 1.10

P/C OI ratio: 0.84

High-confidence bullish. Mixed flow: higher put volume but calls dominate OI. Unusual $29 put likely hedge. Gamma pinning near spot. Net premium positive. Confirmation: hold $67.50. Invalidation: below $60.

Notable Prints

CVNA 2026-07-17 $29.00 Put

Vol: 11,864

OI: 412

Vol/OI: 28.8x

IV: 146.1%

Notional: ~$154K

Intent: Bearish speculation on major drop

Dual read: Hedging short puts

Read-through: Low probability bearish bet

CVNA 2026-06-26 $69.00 Call

Vol: 3,554

OI: 336

Vol/OI: 10.6x

IV: 65.2%

Notional: ~$615K

Intent: Unclear flow intent

Read-through: Needs contextual interpretation.

CVNA 2026-06-26 $72.00 Call

Vol: 3,840

OI: 677

Vol/OI: 5.7x

IV: 63.9%

Notional: ~$346K

Intent: Unclear flow intent

Read-through: Needs contextual interpretation.

CVNA 2026-06-18 $66.50 Put

Vol: 1,814

OI: 640

Vol/OI: 2.8x

IV: 13.6%

Notional: ~$34K

Intent: Unclear flow intent

Read-through: Needs contextual interpretation.

CVNA 2026-08-21 $75.00 Call

Vol: 573

OI: 203

Vol/OI: 2.8x

IV: 80.5%

Notional: ~$351K

Intent: Unclear flow intent

Read-through: Needs contextual interpretation.

Institutional Positioning

Call additions: Calls added at $69, $72 strikes (unusual volumes)

Put additions: Puts added at $29 (massive vol/oi 28.8) and near money $66.5-$67.5

GEX/DEX consistency: GEX+ and DEX+ consistent with dealer hedging in pinning regime

OI clusters: Largest OI near $67-$69 strikes (calls) and $66.5 put

Hedging evidence: Large $29 put suggests downside hedge; near-money puts also active

Max pain context: Spot 4.9% below MP; pinning pressure likely upward

Signal vs Noise

~$29 put volume 28.8x OI is noise (far OTM, likely hedges)

~$620 call is noise (lottery ticket)

~Near-the-money call/put activity is signal

~High put/call volume ratio but OI skew calls - mixed signal

~Positive GEX confirms dealer gamma long

Key Conclusions

📈Call accumulation at $69-72 signals bullish flow; ignore distant strikes

⚠️Massive $29 put volume (28.8x OI) likely noise, may distort flow data

How to Use These Reports

This flow reflects the market close on June 18, 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.