Carvana Unusual Options Activity

Investors with a lot of money to spend have taken a bullish stance on Carvana CVNA.

And retail traders should know.

We noticed this today when the trades showed up on publicly available options history that we track here at Benzinga.

Whether these are institutions or just wealthy individuals, we don't know. But when something this big happens with CVNA, it often means somebody knows something is about to happen.

So how do we know what these investors just did?

Today, Benzinga's options scanner spotted 42 uncommon options trades for Carvana.

This isn't normal.

The overall sentiment of these big-money traders is split between 45% bullish and 35%, bearish.

Out of all of the special options we uncovered, 17 are puts, for a total amount of $1,082,547, and 25 are calls, for a total amount of $1,370,998.

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 $20.0 to $370.0 for Carvana during the past quarter.

Analyzing Volume & Open Interest

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 $20.0 to $370.0 in the last 30 days.

Carvana Option Volume And Open Interest Over Last 30 Days

Biggest Options Spotted:

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

Current Position of Carvana

• With a volume of 1,175,684, the price of CVNA is up 2.06% at $230.73.
• RSI indicators hint that the underlying stock may be overbought.
• Next earnings are expected to be released in 107 days.

What The Experts Say On Carvana

A total of 5 professional analysts have given their take on this stock in the last 30 days, setting an average price target of $206.4.

Turn $1000 into $1270 in just 20 days?

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. * Consistent in their evaluation, an analyst from Evercore ISI Group keeps a In-Line rating on Carvana with a target price of $182. * Consistent in their evaluation, an analyst from Jefferies keeps a Hold rating on Carvana with a target price of $185. * An analyst from Wedbush persists with their Neutral rating on Carvana, maintaining a target price of $175. * Maintaining their stance, an analyst from JP Morgan continues to hold a Overweight rating for Carvana, targeting a price of $300. * Maintaining their stance, an analyst from Evercore ISI Group continues to hold a In-Line rating for Carvana, targeting a price of $190.

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.