Home Options CVNAReports

CVNA

Carvana Co.Close $66.67EOD only

Max Pain

$67.00

Next expiry Jun 26, 2026

Expected Move

±$4.58

6.9% from close

Price Gap

+0.33

Distance to max pain

IV Rank

Middle-high premium

P/C OI

0.82

Slightly call-heavy

Consensus

8.0/10

Bullish tilt

Published snapshot: Jun 22, 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 22, 2026 close

CVNA Flow Report

Analysis based on market close June 23, 2026

Directional Theta Gang Flow Earnings Consensus

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

Flow Verdict

Confidence:

7 / 10

base 5; +1 GEX/flow weakly aligned; +1 GEX positive (pinning); -0.5 spot 3.2% from MP; +0.5 VIX 19

Watch next session: Delta positioning; VIX trend; Unusual print follow-through

Flow Summary

Net premium: +$643K bullish

P/C volume ratio: 1.28

P/C OI ratio: 0.84

Positive GEX and net premium suggest dealer hedging supports, but elevated VIX and mixed flow (higher put/call vol ratio) indicate caution. Unusual prints show large call and put activity, reflecting uncertainty. Market down over 1%, but gamma pinning near $60 may limit downside.

Notable Prints

CVNA 2026-07-02 $70.00 Call

Vol: 665

OI: 156

Vol/OI: 4.3x

IV: 69.2%

Notional: ~$76K

Intent: Bullish near-term

Read-through: Speculative call buying

CVNA 2026-07-10 $55.00 Put

Vol: 508

OI: 121

Vol/OI: 4.2x

IV: 74.6%

Notional: ~$41K

Intent: Bearish hedge

Dual read: Volatility play

Read-through: Defensive put

CVNA 2026-09-18 $68.00 Call

Vol: 1,004

OI: 290

Vol/OI: 3.5x

IV: 75.8%

Notional: ~$835K

Intent: Moderate bullish

Dual read: Covered call

Read-through: Delta positioning

CVNA 2026-09-18 $620.00 Call

Vol: 485

OI: 191

Vol/OI: 2.5x

IV: 50.0%

Notional: ~$420K

Intent: Lottery ticket

Dual read: Collar component

Read-through: Extreme bullish bet

CVNA 2026-07-02 $60.00 Put

Vol: 755

OI: 368

Vol/OI: 2.0x

IV: 73.3%

Notional: ~$90K

Intent: Protection at gamma flip

Dual read: Profit-taking

Read-through: Pinning support

Institutional Positioning

Call additions: Sept $68 (1004 vol), July $70 (665), long-dated $620 (485)

Put additions: July $60 (755), $55 (508), $56 (325), $71 (404)

GEX/DEX consistency: GEX +$659K long gamma, DEX +37.3M long delta; consistent bullish positioning

OI clusters: $60 put OI 368, $68 call OI 290; gamma flip $60

Hedging evidence: Multi-week put additions suggest hedging/long protection

Max pain context: Spot below MP; pinning toward $60 via gamma flip and put OI

Signal vs Noise

~Heavy put volume (1.28 ratio) is noise from hedging, not directional bearish

~$620 call likely a spread, not directional bet

Key Conclusions

🛡️Institutions hedging via weekly puts, not outright bearish

⚡Positive GEX/DEX and pinning gamma suggest near-term support at $60

⚠️Spot 3% below MP; risk of further drift if macro weakens

How to Use These Reports

This flow reflects the market close on June 23, 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.