Let us have an Erdos-Renyi graph $\mathcal{G} = \mathcal{G}(n,p)$. For a subset of vertices $S$ we define the cut-size $c(S)$ as the number of edges $(u,v)$ such that $u \notin S$ and $v \in S$. Let us assume that $p$ is a constant probability and finite.
For the maximum cut it is known that, with high-probability, ${\rm max} \ c(S) \leq \frac{1}{4}n^{2}p + \mathcal{O}(n^{3/2})$ - a bound which becomes sufficiently tight as $n \rightarrow \infty$.
I am wondering if I can make a more broad statement about the cut sizes. Specifically let |S| equal the number of vertices in the cut, and assume that |S| is proprtional to $n$, i.e. $|S| = \lambda n$.
\begin{equation} \lim_{n \rightarrow \infty} \frac{c(S)}{n^{2}} = \lim_{n \rightarrow \infty}\frac{E[c(S)]}{n^{2}} = \lambda (1-\lambda)p, \end{equation}
where $E[c(S)] = |S|(n-|S|)p$ is the expected value of the cut.
More specifically I am asking if the cut cannot differ in any significant (quadratic) way from it's expected value, so you have some inequality like
\begin{equation} |c(S) - E[c(S)]|\leq \mathcal{O}(n^{\alpha}) \ \qquad \alpha < 2. \end{equation}
Can this be proven? Or does anyone know of any references which show something like this?