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 11 trades.
If we consider the specifics of each trade, it is accurate to state that 36% of the investors opened trades with bullish expectations and 45% with bearish.
From the overall spotted trades, 5 are puts, for a total amount of $542,770 and 6, calls, for a total amount of $774,120.
Projected Price Targets
Taking into account the Volume and Open Interest on these contracts, it appears that whales have been targeting a price range from $80.0 to $130.0 for Carvana over the last 3 months.
Volume & Open Interest Trends
Looking at the volume and open interest is a powerful move while trading options. This data can help you track the liquidity and interest for Carvana's options for a given strike price. Below, we can observe the evolution of the volume and open interest of calls and puts, respectively, for all of Carvana's whale trades within a strike price range from $80.0 to $130.0 in the last 30 days.
Carvana Option Activity Analysis: Last 30 Days
Noteworthy Options Activity:
| Symbol | PUT/CALL | Trade Type | Sentiment | Exp. Date | Ask | Bid | Price | Strike Price | Total Trade Price | Open Interest | Volume |
|---|---|---|---|---|---|---|---|---|---|---|---|
| CVNA | CALL | SWEEP | BULLISH | 01/17/25 | $19.45 | $18.35 | $19.45 | $130.00 | $274.2K | 479 | 150 |
| CVNA | PUT | SWEEP | BULLISH | 11/15/24 | $25.45 | $24.75 | $24.75 | $110.00 | $232.6K | 190 | 0 |
| CVNA | CALL | SWEEP | BULLISH | 01/17/25 | $19.65 | $18.7 | $19.65 | $130.00 | $198.4K | 479 | 251 |
| CVNA | PUT | TRADE | BULLISH | 07/19/24 | $15.9 | $15.65 | $15.75 | $115.00 | $157.5K | 551 | 101 |
| CVNA | CALL | SWEEP | BEARISH | 08/16/24 | $10.8 | $10.75 | $10.75 | $120.00 | $107.5K | 275 | 200 |
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.
In light of the recent options history for Carvana, it's now appropriate to focus on the company itself. We aim to explore its current performance.
Carvana's Current Market Status
- Trading volume stands at 853,128, with CVNA's price up by 1.03%, positioned at $105.67.
- RSI indicators show the stock to be may be approaching overbought.
- Earnings announcement expected in 49 days.
Options are a riskier asset compared to just trading the stock, but they have higher profit potential. Serious options traders manage this risk by educating themselves daily, scaling in and out of trades, following more than one indicator, and following the markets closely.
If you want to stay updated on the latest options trades for Carvana, Benzinga Pro gives you real-time options trades alerts.
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