Carvana Unusual Options Activity For March 19

Whales with a lot of money to spend have taken a noticeably bearish stance on Carvana.

Looking at options history for Carvana CVNA we detected 13 trades.

If we consider the specifics of each trade, it is accurate to state that 46% of the investors opened trades with bullish expectations and 53% with bearish.

From the overall spotted trades, 7 are puts, for a total amount of $463,314 and 6, calls, for a total amount of $481,627.

What's The Price Target?

Analyzing the Volume and Open Interest in these contracts, it seems that the big players have been eyeing a price window from $69.0 to $125.0 for Carvana during the past quarter.

Volume & Open Interest Trends

Assessing the volume and open interest is a strategic step in options trading. These metrics shed light on the liquidity and investor interest in Carvana's options at specified strike prices. The forthcoming data visualizes the fluctuation in volume and open interest for both calls and puts, linked to Carvana's substantial trades, within a strike price spectrum from $69.0 to $125.0 over the preceding 30 days.

Carvana 30-Day Option Volume & Interest Snapshot

Largest Options Trades Observed:

About Carvana

Carvana Co is an e-commerce platform for buying and selling used cars. The company derives revenue from used vehicle sales, wholesale vehicle sales and other sales and revenues. The other sales and revenues include sales of loans originated and sold in securitization transactions or to financing partners, commissions received on VSCs and sales of GAP waiver coverage. The foundation of the business is retail vehicle unit sales. This drives the majority of the revenue and allows the company to capture additional revenue streams associated with financing, VSCs, auto insurance and GAP waiver coverage, as well as trade-in vehicles.

Having examined the options trading patterns of Carvana, our attention now turns directly to the company. This shift allows us to delve into its present market position and performance

Present Market Standing of Carvana

• Currently trading with a volume of 1,210,208, the CVNA's price is down by -2.83%, now at $78.5.
• RSI readings suggest the stock is currently may be approaching overbought.
• Anticipated earnings release is in 44 days.

Trading options involves greater risks but also offers the potential for higher profits. Savvy traders mitigate these risks through ongoing education, strategic trade adjustments, utilizing various indicators, and staying attuned to market dynamics. Keep up with the latest options trades for Carvana with Benzinga Pro for real-time alerts.