Financial giants have made a conspicuous bullish move on Carvana. Our analysis of options history for Carvana CVNA revealed 12 unusual trades.
Delving into the details, we found 33% of traders were bullish, while 25% showed bearish tendencies. Out of all the trades we spotted, 9 were puts, with a value of $647,320, and 3 were calls, valued at $236,340.
Projected Price Targets
Based on the trading activity, it appears that the significant investors are aiming for a price territory stretching from $90.0 to $145.0 for Carvana over the recent three months.
Analyzing Volume & Open Interest
Examining the volume and open interest provides crucial insights into stock research. This information is key in gauging liquidity and interest levels for Carvana's options at certain strike prices. Below, we present a snapshot of the trends in volume and open interest for calls and puts across Carvana's significant trades, within a strike price range of $90.0 to $145.0, over the past month.
Carvana Option Volume And Open Interest Over Last 30 Days
Biggest Options Spotted:
| Symbol | PUT/CALL | Trade Type | Sentiment | Exp. Date | Ask | Bid | Price | Strike Price | Total Trade Price | Open Interest | Volume |
|---|---|---|---|---|---|---|---|---|---|---|---|
| CVNA | PUT | SWEEP | NEUTRAL | 08/02/24 | $1.5 | $1.5 | $1.5 | $100.00 | $150.0K | 5.3K | 1.2K |
| CVNA | PUT | TRADE | BULLISH | 01/16/26 | $24.7 | $23.25 | $23.25 | $90.00 | $139.5K | 296 | 60 |
| CVNA | CALL | TRADE | NEUTRAL | 08/16/24 | $34.55 | $32.65 | $33.7 | $100.00 | $134.8K | 1.0K | 20 |
| CVNA | PUT | SWEEP | BULLISH | 08/02/24 | $1.46 | $1.45 | $1.45 | $100.00 | $108.8K | 5.3K | 1.3K |
| CVNA | CALL | TRADE | BULLISH | 01/17/25 | $24.6 | $23.3 | $24.6 | $145.00 | $61.5K | 42 | 0 |
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.
Following our analysis of the options activities associated with Carvana, we pivot to a closer look at the company's own performance.
Present Market Standing of Carvana
- Currently trading with a volume of 47,949, the CVNA's price is up by 0.02%, now at $127.64.
- RSI readings suggest the stock is currently may be approaching overbought.
- Anticipated earnings release is in 1 days.
Professional Analyst Ratings for Carvana
5 market experts have recently issued ratings for this stock, with a consensus target price of $143.0.
- An analyst from JP Morgan persists with their Overweight rating on Carvana, maintaining a target price of $155.
- Reflecting concerns, an analyst from BTIG lowers its rating to Buy with a new price target of $155.
- Consistent in their evaluation, an analyst from Evercore ISI Group keeps a In-Line rating on Carvana with a target price of $135.
- In a cautious move, an analyst from Wedbush downgraded its rating to Neutral, setting a price target of $120.
- An analyst from JMP Securities downgraded its action to Market Outperform with a price target 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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