Whales with a lot of money to spend have taken a noticeably bearish stance on Carvana.
Looking at options history for Carvana CVNA we detected 14 trades.
If we consider the specifics of each trade, it is accurate to state that 28% of the investors opened trades with bullish expectations and 71% with bearish.
From the overall spotted trades, 10 are puts, for a total amount of $596,913 and 4, calls, for a total amount of $157,353.
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 $15.0 to $200.0 for Carvana during the past quarter.
Volume & Open Interest Development
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 $200.0 over the preceding 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 | SWEEP | BEARISH | 09/13/24 | $1.64 | $1.35 | $1.64 | $130.00 | $108.7K | 604 | 2.0K |
| CVNA | PUT | SWEEP | BEARISH | 09/13/24 | $1.74 | $1.48 | $1.6 | $130.00 | $95.6K | 604 | 1.2K |
| CVNA | PUT | TRADE | BEARISH | 10/18/24 | $30.8 | $29.45 | $30.8 | $170.00 | $92.4K | 126 | 60 |
| CVNA | CALL | TRADE | BULLISH | 01/16/26 | $128.0 | $125.75 | $128.0 | $15.00 | $76.8K | 35 | 0 |
| CVNA | PUT | TRADE | BEARISH | 10/18/24 | $27.35 | $27.25 | $27.35 | $165.00 | $71.1K | 248 | 26 |
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.
Carvana's Current Market Status
- With a volume of 546,492, the price of CVNA is down -2.8% at $137.19.
- RSI indicators hint that the underlying stock is currently neutral between overbought and oversold.
- Next earnings are expected to be released in 55 days.
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.
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
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