Financial giants have made a conspicuous bearish move on Carvana. Our analysis of options history for Carvana CVNA revealed 14 unusual trades.
Delving into the details, we found 28% of traders were bullish, while 71% showed bearish tendencies. Out of all the trades we spotted, 6 were puts, with a value of $241,310, and 8 were calls, valued at $495,920.
What's The Price Target?
Analyzing the Volume and Open Interest in these contracts, it seems that the big players have been eyeing a price window from $40.0 to $90.0 for Carvana during the past quarter.
Analyzing Volume & Open Interest
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 $40.0 to $90.0 in the last 30 days.
Carvana Call and Put Volume: 30-Day Overview
Largest Options Trades Observed:
| Symbol | PUT/CALL | Trade Type | Sentiment | Exp. Date | Strike Price | Total Trade Price | Open Interest | Volume |
|---|---|---|---|---|---|---|---|---|
| CVNA | CALL | SWEEP | BULLISH | 04/19/24 | $90.00 | $157.3K | 2.8K | 1 |
| CVNA | CALL | TRADE | BULLISH | 04/19/24 | $40.00 | $82.4K | 1.4K | 40 |
| CVNA | CALL | TRADE | NEUTRAL | 04/19/24 | $80.00 | $55.5K | 1.4K | 69 |
| CVNA | CALL | SWEEP | BEARISH | 03/15/24 | $50.00 | $53.6K | 3.1K | 82 |
| CVNA | PUT | TRADE | BEARISH | 03/15/24 | $70.00 | $52.6K | 2.5K | 299 |
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.
In light of the recent options history for Carvana, it's now appropriate to focus on the company itself. We aim to explore its current performance.
Where Is Carvana Standing Right Now?
- With a volume of 1,300,243, the price of CVNA is down -2.14% at $78.7.
- RSI indicators hint that the underlying stock may be overbought.
- Next earnings are expected to be released in 64 days.
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.
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
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