CarMax Stock Pops After Strong Q1 Results

Options traders are chiming in after the news

Laura McCandless

Deputy Editor

Jun 20, 2025 at 10:44 AM

Used-car stock CarMax Inc (NYSE:KMX) is up 3.2% at $66.41, after the company's better-than-expected first-quarter earnings and revenue results. The retailer reported its biggest jump in used vehicle sales since late 2021 with 230,000 sold this past quarter.

The stock opened at $70.27 before paring gains, a level that rejected the shares in mid-May as well. Struggling to remove itself from a May 23, 52-week low of $61.34, KMX is down 18.6% in 2025.

So far today, KMX has seen 7,414 calls and 3,713 puts exchanged, which is 3.1 times the volume it typically sees in an entire session. Expiring today, the June 62.50 put is the most popular contract.

Calls were more popular than usual leading up to today, too. CarMax stock's 50-day call/put volume ratio of 2.14 at the International Securities Exchange (ISE), Cboe Options Exchange (CBOE), and NASDAQ OMX PHLX (PHLX) ranks higher than 92% of readings from the past year.

An unwinding of short interest could help fuel gains. Of KMX's available float, 8.5% is sold short. It would take shorts nearly four days to cover.

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