Investors with a lot of money to spend have taken a bearish 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 11 uncommon options trades for Carvana.
This isn't normal.
The overall sentiment of these big-money traders is split between 36% bullish and 45%, bearish.
Out of all of the special options we uncovered, 8 are puts, for a total amount of $300,319, and 3 are calls, for a total amount of $107,620.
Expected Price Movements
Analyzing the Volume and Open Interest in these contracts, it seems that the big players have been eyeing a price window from $75.0 to $250.0 for Carvana during the past quarter.
Volume & Open Interest Trends
Looking at the volume and open interest is an insightful way to conduct due diligence on a stock.
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 activity within a strike price range from $75.0 to $250.0 in the last 30 days.
Carvana Option Activity Analysis: 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 | TRADE | BEARISH | 02/21/25 | $4.0 | $3.15 | $4.0 | $180.00 | $80.0K | 1.2K | 0 |
| CVNA | CALL | TRADE | BULLISH | 01/24/25 | $41.0 | $38.3 | $41.0 | $200.00 | $41.0K | 1.2K | 10 |
| CVNA | PUT | SWEEP | BEARISH | 01/24/25 | $2.0 | $1.74 | $2.0 | $230.00 | $38.6K | 551 | 411 |
| CVNA | CALL | TRADE | BEARISH | 01/16/26 | $173.3 | $171.15 | $171.15 | $75.00 | $34.2K | 210 | 2 |
| CVNA | PUT | TRADE | BEARISH | 03/21/25 | $33.0 | $32.5 | $33.0 | $250.00 | $33.0K | 669 | 10 |
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.
Present Market Standing of Carvana
- Trading volume stands at 131,766, with CVNA's price up by 2.79%, positioned at $238.81.
- RSI indicators show the stock to be may be approaching overbought.
- Earnings announcement expected in 28 days.
Professional Analyst Ratings for Carvana
In the last month, 5 experts released ratings on this stock with an average target price of $292.4.
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. * In a cautious move, an analyst from Needham downgraded its rating to Buy, setting a price target of $330. * In a positive move, an analyst from Citigroup has upgraded their rating to Buy and adjusted the price target to $277. * An analyst from RBC Capital has elevated its stance to Outperform, setting a new price target at $280. * Maintaining their stance, an analyst from Wells Fargo continues to hold a Overweight rating for Carvana, targeting a price of $275. * In a cautious move, an analyst from Stephens & Co. downgraded its rating to Overweight, setting a price target of $300.
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.
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