What the Options Market Tells Us About Carvana
Financial giants have made a conspicuous bearish move on Carvana. Our analysis of options history for Carvana (NYSE:CVNA) revealed 10 unusual trades.
Delving into the details, we found 10% of traders were bullish, while 70% showed bearish tendencies. Out of all the trades we spotted, 3 were puts, with a value of $91,260, and 7 were calls, valued at $571,320.
Projected Price Targets
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 $160.0 for Carvana over the last 3 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 $125.0 to $160.0 over the preceding 30 days.
Carvana Call and Put Volume: 30-Day Overview
Biggest Options Spotted:
| Symbol | PUT/CALL | Trade Type | Sentiment | Exp. Date | Ask | Bid | Price | Strike Price | Total Trade Price | Open Interest | Volume |
|---|---|---|---|---|---|---|---|---|---|---|---|
| CVNA | CALL | TRADE | BEARISH | 08/16/24 | $22.2 | $21.9 | $21.9 | $130.00 | $192.7K | 2.4K | 160 |
| CVNA | CALL | TRADE | BEARISH | 08/16/24 | $22.5 | $22.1 | $22.1 | $130.00 | $112.7K | 2.4K | 1 |
| CVNA | CALL | TRADE | BEARISH | 08/16/24 | $22.55 | $22.35 | $22.35 | $130.00 | $96.1K | 2.4K | 1 |
| CVNA | CALL | TRADE | BULLISH | 07/26/24 | $3.55 | $3.5 | $3.55 | $150.00 | $62.8K | 1.5K | 73 |
| CVNA | CALL | TRADE | NEUTRAL | 07/26/24 | $20.5 | $18.1 | $19.3 | $125.00 | $38.6K | 62 | 0 |
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.
Present Market Standing of Carvana
- With a trading volume of 323,215, the price of CVNA is up by 0.1%, reaching $142.23.
- Current RSI values indicate that the stock is may be overbought.
- Next earnings report is scheduled for 15 days from now.
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.