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

Deep-pocketed investors have adopted a bearish approach towards Carvana CVNA, and it's something market players shouldn't ignore. Our tracking of public options records at Benzinga unveiled this significant move today. The identity of these investors remains unknown, but such a substantial move in CVNA usually suggests something big is about to happen.

We gleaned this information from our observations today when Benzinga's options scanner highlighted 8 extraordinary options activities for Carvana. This level of activity is out of the ordinary.

The general mood among these heavyweight investors is divided, with 25% leaning bullish and 62% bearish. Among these notable options, 6 are puts, totaling $179,184, and 2 are calls, amounting to $66,359.

Expected Price Movements

Taking into account the Volume and Open Interest on these contracts, it appears that whales have been targeting a price range from $125.0 to $190.0 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 $125.0 to $190.0 in the last 30 days.

Carvana Call and Put Volume: 30-Day Overview

Noteworthy Options Activity:

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.

Current Position of Carvana

• With a trading volume of 83,960, the price of CVNA is down by -1.41%, reaching $172.69.
• Current RSI values indicate that the stock is may be approaching overbought.
• Next earnings report is scheduled for 37 days from now.

What The Experts Say On Carvana

Over the past month, 4 industry analysts have shared their insights on this stock, proposing an average target price of $183.0.

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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. * An analyst from JMP Securities downgraded its action to Market Outperform with a price target of $200. * In a cautious move, an analyst from B of A Securities downgraded its rating to Buy, setting a price target of $185. * Consistent in their evaluation, an analyst from Evercore ISI Group keeps a In-Line rating on Carvana with a target price of $157. * An analyst from Stephens & Co. has revised its rating downward to Overweight, adjusting the price target to $190.

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