Behind the Scenes of Carvana's Latest Options Trends

Financial giants have made a conspicuous bullish move on Carvana. Our analysis of options history for Carvana CVNA revealed 21 unusual trades.

Delving into the details, we found 61% of traders were bullish, while 38% showed bearish tendencies. Out of all the trades we spotted, 6 were puts, with a value of $338,188, and 15 were calls, valued at $1,288,772.

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What's The Price Target?

Taking into account the Volume and Open Interest on these contracts, it appears that whales have been targeting a price range from $25.0 to $60.0 for Carvana over the last 3 months.

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 $25.0 to $60.0 in the last 30 days.

Carvana Option Activity Analysis: Last 30 Days

Significant Options Trades Detected:

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 trading volume of 4,981,099, the price of CVNA is up by 0.81%, reaching $33.48.
• Current RSI values indicate that the stock is may be approaching overbought.
• Next earnings report is scheduled for 99 days from now.

Expert Opinions on Carvana

Over the past month, 2 industry analysts have shared their insights on this stock, proposing an average target price of $39.0.

• Consistent in their evaluation, an analyst from Wedbush keeps a Neutral rating on Carvana with a target price of $40.
• Maintaining their stance, an analyst from Piper Sandler continues to hold a Neutral rating for Carvana, targeting a price of $38.

Trading options involves greater risks but also offers the potential for higher profits. Savvy traders mitigate these risks through ongoing education, strategic trade adjustments, utilizing various indicators, and staying attuned to market dynamics. Keep up with the latest options trades for Carvana with Benzinga Pro for real-time alerts.