Financial giants have made a conspicuous bearish move on Carvana. Our analysis of options history for Carvana CVNA revealed 11 unusual trades.
Delving into the details, we found 36% of traders were bullish, while 45% showed bearish tendencies. Out of all the trades we spotted, 4 were puts, with a value of $182,278, and 7 were calls, valued at $481,043.
Projected Price Targets
Analyzing the Volume and Open Interest in these contracts, it seems that the big players have been eyeing a price window from $100.0 to $130.0 for Carvana during the past quarter.
Volume & Open Interest Development
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 $100.0 to $130.0 over the preceding 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 | 06/21/24 | $3.9 | $3.65 | $3.9 | $104.00 | $99.0K | 10 | 254 |
| CVNA | CALL | TRADE | BULLISH | 07/19/24 | $1.85 | $1.75 | $1.85 | $130.00 | $92.5K | 741 | 1.5K |
| CVNA | CALL | SWEEP | BEARISH | 06/28/24 | $2.23 | $1.73 | $1.78 | $118.00 | $89.0K | 22 | 1.5K |
| CVNA | CALL | SWEEP | BEARISH | 06/28/24 | $2.22 | $1.55 | $1.57 | $118.00 | $81.3K | 22 | 1.5K |
| CVNA | PUT | SWEEP | BULLISH | 06/14/24 | $3.95 | $3.85 | $3.95 | $108.00 | $76.1K | 303 | 202 |
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
Where Is Carvana Standing Right Now?
- With a trading volume of 490,443, the price of CVNA is down by -5.73%, reaching $101.86.
- Current RSI values indicate that the stock is may be oversold.
- Next earnings report is scheduled for 36 days from now.
Professional Analyst Ratings for Carvana
Over the past month, 3 industry analysts have shared their insights on this stock, proposing an average target price of $145.0.
- An analyst from JMP Securities downgraded its action to Market Outperform with a price target of $135.
- An analyst from JP Morgan persists with their Overweight rating on Carvana, maintaining a target price of $150.
- Consistent in their evaluation, an analyst from JMP Securities keeps a Market Outperform rating on Carvana with a target price of $150.
Options trading presents higher risks and potential rewards. Astute traders manage these risks by continually educating themselves, adapting their strategies, monitoring multiple indicators, and keeping a close eye on market movements. Stay informed about the latest Carvana options trades with real-time alerts from Benzinga Pro.
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
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