Whales with a lot of money to spend have taken a noticeably bullish stance on Carvana.
Looking at options history for Carvana CVNA we detected 51 trades.
If we consider the specifics of each trade, it is accurate to state that 43% of the investors opened trades with bullish expectations and 41% with bearish.
From the overall spotted trades, 41 are puts, for a total amount of $3,020,691 and 10, calls, for a total amount of $789,526.
Expected Price Movements
After evaluating the trading volumes and Open Interest, it's evident that the major market movers are focusing on a price band between $70.0 and $160.0 for Carvana, spanning the last three months.
Volume & Open Interest Development
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 $70.0 to $160.0, over the past month.
Carvana Call and Put Volume: 30-Day Overview
Biggest Options Spotted:
| Symbol | PUT/CALL | Trade Type | Sentiment | Exp. Date | Ask | Bid | Price | Strike Price | Total Trade Price | Open Interest | Volume |
|---|---|---|---|---|---|---|---|---|---|---|---|
| CVNA | CALL | SWEEP | BULLISH | 03/21/25 | $31.0 | $30.6 | $31.0 | $125.00 | $496.0K | 212 | 130 |
| CVNA | PUT | TRADE | BULLISH | 09/20/24 | $7.3 | $7.1 | $7.1 | $130.00 | $319.5K | 4.1K | 842 |
| CVNA | PUT | SWEEP | NEUTRAL | 03/21/25 | $6.05 | $5.6 | $5.9 | $75.00 | $295.0K | 15 | 500 |
| CVNA | PUT | TRADE | BULLISH | 01/17/25 | $4.6 | $4.4 | $4.4 | $80.00 | $264.0K | 824 | 624 |
| CVNA | PUT | TRADE | NEUTRAL | 10/18/24 | $8.2 | $7.9 | $8.05 | $125.00 | $180.3K | 1.1K | 246 |
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.
Where Is Carvana Standing Right Now?
- With a volume of 3,208,214, the price of CVNA is down -5.43% at $128.12.
- RSI indicators hint that the underlying stock may be approaching oversold.
- Next earnings are expected to be released in 51 days.
Professional Analyst Ratings for Carvana
1 market experts have recently issued ratings for this stock, with a consensus target price of $200.0.
- Reflecting concerns, an analyst from JMP Securities lowers its rating to Market Outperform with a new price target of $200.
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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