Market Whales and Their Recent Bets on CVNA Options

Investors with a lot of money to spend have taken a bullish 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 61 uncommon options trades for Carvana.

This isn't normal.

The overall sentiment of these big-money traders is split between 60% bullish and 22%, bearish.

Out of all of the special options we uncovered, 29 are puts, for a total amount of $1,748,690, and 32 are calls, for a total amount of $2,197,642.

Latest Startup Investment Opportunities:

Projected Price Targets

After evaluating the trading volumes and Open Interest, it's evident that the major market movers are focusing on a price band between $150.0 and $460.0 for Carvana, spanning the last three months.

Volume & Open Interest Development

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 $150.0 to $460.0 over the preceding 30 days.

Carvana Option Activity Analysis: Last 30 Days

Biggest Options Spotted:

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.

Where Is Carvana Standing Right Now?

• Trading volume stands at 1,572,073, with CVNA's price up by 2.74%, positioned at $312.43.
• RSI indicators show the stock to be may be overbought.
• Earnings announcement expected in 64 days.

Expert Opinions on Carvana

In the last month, 5 experts released ratings on this stock with an average target price of $320.0.

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. * Maintaining their stance, an analyst from Wells Fargo continues to hold a Overweight rating for Carvana, targeting a price of $290. * An analyst from Morgan Stanley has decided to maintain their Overweight rating on Carvana, which currently sits at a price target of $290. * Consistent in their evaluation, an analyst from Piper Sandler keeps a Overweight rating on Carvana with a target price of $340. * Consistent in their evaluation, an analyst from RBC Capital keeps a Outperform rating on Carvana with a target price of $340. * An analyst from Needham downgraded its action to Buy with a price target of $340.

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.