Carvana Unusual Options Activity

Investors with a lot of money to spend have taken a bearish stance on Carvana CVNA.

And retail traders should know.

We noticed this today when the trades showed up on publicly available options history that we track here at Benzinga.

Whether these are institutions or just wealthy individuals, we don't know. But when something this big happens with CVNA, it often means somebody knows something is about to happen.

So how do we know what these investors just did?

Today, Benzinga's options scanner spotted 34 uncommon options trades for Carvana.

This isn't normal.

The overall sentiment of these big-money traders is split between 35% bullish and 55%, bearish.

Out of all of the special options we uncovered, 15 are puts, for a total amount of $1,078,765, and 19 are calls, for a total amount of $3,704,445.

What's The Price Target?

After evaluating the trading volumes and Open Interest, it's evident that the major market movers are focusing on a price band between $50.0 and $270.0 for Carvana, spanning the last three months.

Volume & Open Interest Trends

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 $50.0 to $270.0 over the preceding 30 days.

Carvana 30-Day Option Volume & Interest Snapshot

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 volume of 802,040, the price of CVNA is up 0.18% at $192.59.
• RSI indicators hint that the underlying stock may be overbought.
• Next earnings are expected to be released in 16 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 $191.4.

Turn $1000 into $1270 in just 20 days?

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 B of A Securities downgraded its action to Buy with a price target of $185. * Consistent in their evaluation, an analyst from JP Morgan keeps a Overweight rating on Carvana with a target price of $230. * An analyst from Wedbush has decided to maintain their Neutral rating on Carvana, which currently sits at a price target of $175. * An analyst from B of A Securities persists with their Buy rating on Carvana, maintaining a target price of $210. * Maintaining their stance, an analyst from Evercore ISI Group continues to hold a In-Line rating for Carvana, targeting a price of $157.

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.