Overview
Options market pricing suggests CarMax Inc. shares may move about 12% when the company issues its next earnings report on June 17 before the market opens, based on options data compiled by Bloomberg. That percentage reflects the market’s expectation for potential volatility around the event.
How recent earnings have compared
An examination of CarMax’s prior eight earnings announcements shows a mixed record relative to options-implied moves. In two instances, the stock’s actual reactions exceeded what options markets had implied:
- On September 25, 2025, CarMax shares fell 22.9% against an implied move of 8.6%.
- On April 10, 2025, the stock dropped 19.7% compared to an implied move of 7.5%.
In the six other most recent earnings reports, the realized price changes were smaller than the moves implied by options. The most recent example occurred on April 14, when the stock declined 2.2% while the options market suggested an 11.4% move.
What this means for investors and markets
The options-implied figure serves as a market-based gauge of expected volatility around CarMax’s earnings release. The company’s recent history shows that actual reactions can both exceed and fall short of those expectations, underscoring variability in how the stock responds to earnings outcomes. The timing of the release - before the market opens - also frames the event for pre-market price adjustments.
Data note: The projected 12% move is derived from options data compiled by Bloomberg. Historical comparisons reference the company’s last eight earnings reports and the percentage moves recorded versus options-implied moves on those dates.