Behind the Scenes of Carvana's Latest Options Trends

Whales with a lot of money to spend have taken a noticeably bullish stance on Carvana.

Looking at options history for Carvana CVNA we detected 52 trades.

If we consider the specifics of each trade, it is accurate to state that 55% of the investors opened trades with bullish expectations and 36% with bearish.

From the overall spotted trades, 33 are puts, for a total amount of $2,068,456 and 19, calls, for a total amount of $1,049,693.

Projected Price Targets

Based on the trading activity, it appears that the significant investors are aiming for a price territory stretching from $75.0 to $180.0 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 $75.0 to $180.0 in the last 30 days.

Carvana 30-Day Option Volume & Interest Snapshot

Biggest Options Spotted:

Symbol PUT/CALL Trade Type Sentiment Exp. Date Ask Bid Price Strike Price Total Trade Price Open Interest Volume
CVNA PUT TRADE BULLISH 01/17/25 $10.55 $9.5 $9.73 $75.00 $389.2K 273 413
CVNA CALL SWEEP NEUTRAL 08/16/24 $13.1 $10.6 $11.85 $150.00 $121.5K 168 0
CVNA CALL TRADE BULLISH 08/16/24 $40.5 $39.95 $40.5 $85.00 $117.4K 730 36
CVNA CALL SWEEP BEARISH 08/16/24 $17.8 $17.2 $17.2 $130.00 $108.3K 335 74
CVNA PUT TRADE BULLISH 06/21/24 $2.57 $2.41 $2.4 $95.00 $108.0K 1.3K 1.4K

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.

Carvana's Current Market Status

  • Trading volume stands at 2,375,220, with CVNA's price up by 2.14%, positioned at $119.4.
  • RSI indicators show the stock to be may be overbought.
  • Earnings announcement expected in 64 days.

Expert Opinions on Carvana

5 market experts have recently issued ratings for this stock, with a consensus target price of $93.4.

  • Consistent in their evaluation, an analyst from Wells Fargo keeps a Equal-Weight rating on Carvana with a target price of $77.
  • An analyst from TD Cowen persists with their Hold rating on Carvana, maintaining a target price of $110.
  • Reflecting concerns, an analyst from JMP Securities lowers its rating to Market Outperform with a new price target of $80.
  • Maintaining their stance, an analyst from TD Cowen continues to hold a Hold rating for Carvana, targeting a price of $70.
  • Maintaining their stance, an analyst from RBC Capital continues to hold a Sector Perform rating for Carvana, targeting a price of $130.

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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