Carvana Co. (CVNA)
NYSE: CVNA
· Real-Time Price · USD
342.60
-7.27 (-2.08%)
At close: Aug 14, 2025, 3:59 PM
342.06
-0.16%
Pre-market: Aug 15, 2025, 08:50 AM EDT
CVNA Delta Exposure By Expiry
The total Delta Exposure (DEX) for CVNA across all expirations shows 13,383,943.33 net shares that market makers must hedge, with 22,599,964.83 from calls and 9,216,021.5 from puts. The put-call delta ratio of 0.41 shows bullish positioning with call dominance, potentially providing upward momentum but leaving the market vulnerable to sharp pullbacks. The largest delta concentration at Jan 16, 26 with 3,845,644.65 net DEX represents significant hedging pressure that may cap upside moves. The nearest expiration on Aug 22, 25 carries negative delta forcing market makers to buy shares, potentially providing support.
CVNA DEX Table
| Expiry Date | Call Delta | Put Delta | Net Delta | P/C Delta |
|---|---|---|---|---|
| Aug 22, 25 | 667,408.21 | -1,209,531.54 | -542,123.33 | 1.81 |
| Aug 29, 25 | 489,371.47 | -482,364.84 | 7,006.63 | 0.99 |
| Sep 5, 25 | 364,155.52 | -91,583.12 | 272,572.4 | 0.25 |
| Sep 12, 25 | 76,873.13 | -50,276.11 | 26,597.02 | 0.65 |
| Sep 19, 25 | 6,440,518.28 | -3,190,479.57 | 3,250,038.71 | 0.50 |
| Sep 26, 25 | 14,016.14 | -8,757.52 | 5,258.62 | 0.62 |
| Oct 17, 25 | 853,382.89 | -435,000.21 | 418,382.68 | 0.51 |
| Nov 21, 25 | 1,555,402.46 | -741,585.78 | 813,816.68 | 0.48 |
| Dec 19, 25 | 1,412,653.13 | -356,800.6 | 1,055,852.53 | 0.25 |
| Jan 16, 26 | 5,304,722.14 | -1,459,077.49 | 3,845,644.65 | 0.28 |
| Feb 20, 26 | 160,558.47 | -128,629.72 | 31,928.75 | 0.80 |
| Mar 20, 26 | 1,638,045.7 | -429,480.15 | 1,208,565.55 | 0.26 |
| Jun 18, 26 | 716,645.5 | -282,681.94 | 433,963.56 | 0.39 |
| Dec 18, 26 | 1,009,037.73 | -111,772.96 | 897,264.77 | 0.11 |
| Jan 15, 27 | 1,509,478.49 | -145,815.94 | 1,363,662.55 | 0.10 |
| Jun 17, 27 | 387,695.57 | -92,184.01 | 295,511.56 | 0.24 |