A Closer Look at Carvana's Options Market Dynamics

Financial giants have made a conspicuous bearish move on Carvana. Our analysis of options history for Carvana CVNA revealed 61 unusual trades.

Delving into the details, we found 39% of traders were bullish, while 47% showed bearish tendencies. Out of all the trades we spotted, 35 were puts, with a value of $2,362,896, and 26 were calls, valued at $1,433,422.

What's The Price Target?

Based on the trading activity, it appears that the significant investors are aiming for a price territory stretching from $100.0 to $270.0 for Carvana over the recent three months.

Volume & Open Interest Trends

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 $100.0 to $270.0, over the past month.

Carvana Option Volume And Open Interest Over Last 30 Days

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.

After a thorough review of the options trading surrounding Carvana, we move to examine the company in more detail. This includes an assessment of its current market status and performance.

Carvana's Current Market Status

• Trading volume stands at 1,748,130, with CVNA's price up by 0.35%, positioned at $191.66.
• RSI indicators show the stock to be may be overbought.
• Earnings announcement expected in 21 days.

What Analysts Are Saying About Carvana

In the last month, 5 experts released ratings on this stock with an average target price of $184.4.

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20-year pro options trader reveals his one-line chart technique that shows when to buy and sell. Copy his trades, which have had averaged a 27% profit every 20 days. Click here for access. * An analyst from B of A Securities has revised its rating downward to Buy, adjusting the price target to $185. * An analyst from Evercore ISI Group has decided to maintain their In-Line rating on Carvana, which currently sits at a price target of $157. * Maintaining their stance, an analyst from B of A Securities continues to hold a Buy rating for Carvana, targeting a price of $210. * An analyst from Wedbush persists with their Neutral rating on Carvana, maintaining a target price of $175. * Maintaining their stance, an analyst from Citigroup continues to hold a Neutral rating for Carvana, targeting a price of $195.

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.