Deep-pocketed investors have adopted a bullish 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 38 extraordinary options activities for Carvana. This level of activity is out of the ordinary.
The general mood among these heavyweight investors is divided, with 39% leaning bullish and 39% bearish. Among these notable options, 24 are puts, totaling $1,457,873, and 14 are calls, amounting to $1,158,163.
What's The Price Target?
Taking into account the Volume and Open Interest on these contracts, it appears that whales have been targeting a price range from $150.0 to $370.0 for Carvana over the last 3 months.
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 $150.0 to $370.0 over the preceding 30 days.
Carvana 30-Day Option Volume & Interest Snapshot
Significant Options Trades Detected:
| Symbol | PUT/CALL | Trade Type | Sentiment | Exp. Date | Ask | Bid | Price | Strike Price | Total Trade Price | Open Interest | Volume |
|---|---|---|---|---|---|---|---|---|---|---|---|
| CVNA | CALL | TRADE | NEUTRAL | 02/28/25 | $7.2 | $6.05 | $6.65 | $215.00 | $324.5K | 231 | 635 |
| CVNA | CALL | SWEEP | NEUTRAL | 02/28/25 | $4.6 | $4.15 | $4.15 | $220.00 | $173.7K | 718 | 473 |
| CVNA | PUT | SWEEP | BULLISH | 02/28/25 | $26.35 | $25.15 | $25.4 | $240.00 | $132.2K | 1.2K | 166 |
| CVNA | PUT | SWEEP | BULLISH | 08/15/25 | $45.25 | $44.6 | $44.6 | $230.00 | $129.3K | 33 | 38 |
| CVNA | CALL | SWEEP | BULLISH | 02/28/25 | $3.3 | $3.15 | $3.3 | $225.00 | $127.0K | 1.3K | 442 |
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.
Where Is Carvana Standing Right Now?
- Trading volume stands at 1,596,342, with CVNA's price up by 0.13%, positioned at $215.92.
- RSI indicators show the stock to be may be approaching oversold.
- Earnings announcement expected in 64 days.
What The Experts Say On Carvana
In the last month, 5 experts released ratings on this stock with an average target price of $304.0.
Unusual Options Activity Detected: Smart Money on the Move
Benzinga Edge's Unusual Options board spots potential market movers before they happen. See what positions big money is taking on your favorite stocks. Click here for access. * An analyst from DA Davidson persists with their Neutral rating on Carvana, maintaining a target price of $260. * An analyst from RBC Capital persists with their Outperform rating on Carvana, maintaining a target price of $320. * In a cautious move, an analyst from Stephens & Co. downgraded its rating to Overweight, setting a price target of $300. * An analyst from Stephens & Co. downgraded its action to Overweight with a price target of $300. * Consistent in their evaluation, an analyst from Needham keeps a Buy rating on Carvana with a target price of $340.
Trading options involves greater risks but also offers the potential for higher profits. Savvy traders mitigate these risks through ongoing education, strategic trade adjustments, utilizing various indicators, and staying attuned to market dynamics. Keep up with the latest options trades for Carvana with Benzinga Pro for real-time alerts.
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