Carvana Unusual Options Activity For June 17

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 13 extraordinary options activities for Carvana. This level of activity is out of the ordinary.

The general mood among these heavyweight investors is divided, with 76% leaning bullish and 15% bearish. Among these notable options, 5 are puts, totaling $204,103, and 8 are calls, amounting to $401,947.

Expected Price Movements

Based on the trading activity, it appears that the significant investors are aiming for a price territory stretching from $200.0 to $335.0 for Carvana over the recent three months.

Volume & Open Interest Development

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 $200.0 to $335.0 in the last 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.

Following our analysis of the options activities associated with Carvana, we pivot to a closer look at the company's own performance.

Current Position of Carvana

• Trading volume stands at 406,154, with CVNA's price up by 1.38%, positioned at $294.06.
• RSI indicators show the stock to be is currently neutral between overbought and oversold.
• Earnings announcement expected in 43 days.

What The Experts Say On Carvana

Over the past month, 2 industry analysts have shared their insights on this stock, proposing an average target price of $357.5.

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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. * Maintaining their stance, an analyst from B of A Securities continues to hold a Buy rating for Carvana, targeting a price of $375. * Maintaining their stance, an analyst from Piper Sandler continues to hold a Overweight rating for Carvana, targeting a price of $340.

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