Carvana's Options: A Look at What the Big Money is Thinking

Financial giants have made a conspicuous bullish move on Carvana. Our analysis of options history for Carvana CVNA revealed 26 unusual trades.

Delving into the details, we found 50% of traders were bullish, while 34% showed bearish tendencies. Out of all the trades we spotted, 9 were puts, with a value of $662,440, and 17 were calls, valued at $1,539,465.

Projected Price Targets

Taking into account the Volume and Open Interest on these contracts, it appears that whales have been targeting a price range from $15.0 to $165.0 for Carvana over the last 3 months.

Analyzing Volume & Open Interest

Assessing the volume and open interest is a strategic step in options trading. These metrics shed light on the liquidity and investor interest in Carvana's options at specified strike prices. The forthcoming data visualizes the fluctuation in volume and open interest for both calls and puts, linked to Carvana's substantial trades, within a strike price spectrum from $15.0 to $165.0 over the preceding 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.

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.

Carvana's Current Market Status

• With a volume of 1,379,066, the price of CVNA is up 2.94% at $157.52.
• RSI indicators hint that the underlying stock may be approaching overbought.
• Next earnings are expected to be released in 69 days.

Professional Analyst Ratings for Carvana

Over the past month, 5 industry analysts have shared their insights on this stock, proposing an average target price of $154.8.

• Reflecting concerns, an analyst from Wedbush lowers its rating to Neutral with a new price target of $120.
• Maintaining their stance, an analyst from TD Cowen continues to hold a Hold rating for Carvana, targeting a price of $148.
• An analyst from JMP Securities persists with their Market Outperform rating on Carvana, maintaining a target price of $200.
• An analyst from Piper Sandler has decided to maintain their Neutral rating on Carvana, which currently sits at a price target of $151.
• An analyst from DA Davidson persists with their Neutral rating on Carvana, maintaining a target price of $155.

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.