A Closer Look at Carvana's Options Market Dynamics

Financial giants have made a conspicuous bullish move on Carvana. Our analysis of options history for Carvana CVNA revealed 17 unusual trades.

Delving into the details, we found 41% of traders were bullish, while 41% showed bearish tendencies. Out of all the trades we spotted, 13 were puts, with a value of $749,972, and 4 were calls, valued at $322,415.

Predicted Price Range

Based on the trading activity, it appears that the significant investors are aiming for a price territory stretching from $20.0 to $130.0 for Carvana over the recent three months.

Volume & Open Interest Trends

In today's trading context, the average open interest for options of Carvana stands at 1100.88, with a total volume reaching 2,168.00. The accompanying chart delineates the progression of both call and put option volume and open interest for high-value trades in Carvana, situated within the strike price corridor from $20.0 to $130.0, throughout the last 30 days.

Carvana Call and Put Volume: 30-Day Overview

Largest Options Trades Observed:

Symbol PUT/CALL Trade Type Sentiment Exp. Date Ask Bid Price Strike Price Total Trade Price Open Interest Volume
CVNA PUT SWEEP BULLISH 11/15/24 $18.9 $18.55 $18.55 $100.00 $159.5K 246 92
CVNA PUT TRADE BULLISH 11/15/24 $21.65 $21.05 $21.05 $105.00 $151.5K 9 72
CVNA CALL TRADE BULLISH 09/20/24 $48.5 $48.35 $48.5 $70.00 $106.7K 200 22
CVNA CALL TRADE NEUTRAL 01/17/25 $97.15 $93.4 $95.22 $20.00 $95.2K 1.4K 0
CVNA CALL SWEEP BEARISH 05/17/24 $1.91 $1.69 $1.73 $125.00 $86.9K 1.0K 43

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.

Where Is Carvana Standing Right Now?

  • With a trading volume of 1,514,310, the price of CVNA is down by -1.19%, reaching $115.27.
  • Current RSI values indicate that the stock is may be overbought.
  • Next earnings report is scheduled for 70 days from now.

Professional Analyst Ratings for Carvana

A total of 5 professional analysts have given their take on this stock in the last 30 days, setting an average price target of $89.4.

  • Consistent in their evaluation, an analyst from TD Cowen keeps a Hold rating on Carvana with a target price of $110.
  • An analyst from Evercore ISI Group has decided to maintain their In-Line rating on Carvana, which currently sits at a price target of $77.
  • Consistent in their evaluation, an analyst from Baird keeps a Neutral rating on Carvana with a target price of $110.
  • An analyst from Wedbush has revised its rating downward to Neutral, adjusting the price target to $80.
  • An analyst from JP Morgan has decided to maintain their Neutral rating on Carvana, which currently sits at a price target of $70.

Options are a riskier asset compared to just trading the stock, but they have higher profit potential. Serious options traders manage this risk by educating themselves daily, scaling in and out of trades, following more than one indicator, and following the markets closely.

If you want to stay updated on the latest options trades for Carvana, Benzinga Pro gives you real-time options trades alerts.

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Posted In: OptionsMarketsBZI-UOA
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