Looking At Carvana's Recent Unusual Options Activity

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 26 trades.

If we consider the specifics of each trade, it is accurate to state that 19% of the investors opened trades with bullish expectations and 61% with bearish.

From the overall spotted trades, 21 are puts, for a total amount of $1,454,060 and 5, calls, for a total amount of $248,300.

Expected Price Movements

Based on the trading activity, it appears that the significant investors are aiming for a price territory stretching from $100.0 to $420.0 for Carvana over the recent three 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 $100.0 to $420.0 over the preceding 30 days.

Carvana Option Volume And Open Interest Over Last 30 Days

Biggest Options Spotted:

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.

Having examined the options trading patterns of Carvana, our attention now turns directly to the company. This shift allows us to delve into its present market position and performance

Where Is Carvana Standing Right Now?

• With a trading volume of 474,388, the price of CVNA is down by -4.97%, reaching $179.1.
• Current RSI values indicate that the stock is may be oversold.
• Next earnings report is scheduled for 51 days from now.

Professional Analyst Ratings for Carvana

In the last month, 5 experts released ratings on this stock with an average target price of $324.0.

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 Needham has decided to maintain their Buy rating on Carvana, which currently sits at a price target of $340. * An analyst from Needham has revised its rating downward to Buy, adjusting the price target to $340. * An analyst from RBC Capital has decided to maintain their Outperform rating on Carvana, which currently sits at a price target of $320. * An analyst from Citigroup has decided to maintain their Buy rating on Carvana, which currently sits at a price target of $320. * Reflecting concerns, an analyst from Stephens & Co. lowers its rating to Overweight with a new price target of $300.

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.