Investors with a lot of money to spend have taken a bearish stance on Carvana CVNA.
And retail traders should know.
We noticed this today when the trades showed up on publicly available options history that we track here at Benzinga.
Whether these are institutions or just wealthy individuals, we don't know. But when something this big happens with CVNA, it often means somebody knows something is about to happen.
So how do we know what these investors just did?
Today, Benzinga's options scanner spotted 52 uncommon options trades for Carvana.
This isn't normal.
The overall sentiment of these big-money traders is split between 30% bullish and 42%, bearish.
Out of all of the special options we uncovered, 33 are puts, for a total amount of $1,567,489, and 19 are calls, for a total amount of $1,268,178.
What's The Price Target?
Analyzing the Volume and Open Interest in these contracts, it seems that the big players have been eyeing a price window from $100.0 to $410.0 for Carvana during the past quarter.
Volume & Open Interest Trends
In today's trading context, the average open interest for options of Carvana stands at 491.68, with a total volume reaching 4,717.00. 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 $100.0 to $410.0, 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 | BEARISH | 06/20/25 | $32.75 | $31.8 | $32.75 | $200.00 | $193.2K | 565 | 204 |
| CVNA | CALL | TRADE | NEUTRAL | 05/23/25 | $89.75 | $86.4 | $88.0 | $110.00 | $184.8K | 22 | 21 |
| CVNA | CALL | TRADE | BEARISH | 05/23/25 | $82.1 | $80.0 | $80.0 | $120.00 | $168.0K | 21 | 21 |
| CVNA | CALL | SWEEP | BULLISH | 04/17/25 | $9.15 | $8.65 | $9.15 | $210.00 | $150.6K | 703 | 303 |
| CVNA | PUT | SWEEP | NEUTRAL | 04/17/25 | $19.05 | $17.85 | $18.45 | $210.00 | $94.5K | 628 | 51 |
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.
Carvana's Current Market Status
- With a volume of 2,051,289, the price of CVNA is down -0.24% at $203.17.
- RSI indicators hint that the underlying stock may be approaching overbought.
- Next earnings are expected to be released in 26 days.
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 $272.0.
Unusual Options Activity Detected: Smart Money on the Move
Benzinga Edge's Unusual Options board spots potential market movers before they happen. See what positions big money is taking on your favorite stocks. Click here for access. * Consistent in their evaluation, an analyst from Citigroup keeps a Buy rating on Carvana with a target price of $280. * An analyst from Baird has decided to maintain their Neutral rating on Carvana, which currently sits at a price target of $200. * Maintaining their stance, an analyst from JMP Securities continues to hold a Market Outperform rating for Carvana, targeting a price of $275. * An analyst from JP Morgan persists with their Overweight rating on Carvana, maintaining a target price of $325. * In a positive move, an analyst from Morgan Stanley has upgraded their rating to Overweight and adjusted the price target to $280.
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.
Edge Rankings
Price Trend
© 2025 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.
