Spotlight on Carvana: Analyzing the Surge in Options Activity

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 71 trades.

If we consider the specifics of each trade, it is accurate to state that 38% of the investors opened trades with bullish expectations and 35% with bearish.

From the overall spotted trades, 12 are puts, for a total amount of $399,805 and 59, calls, for a total amount of $6,701,149.

Predicted Price Range

Taking into account the Volume and Open Interest on these contracts, it appears that whales have been targeting a price range from $150.0 to $450.0 for Carvana over the last 3 months.

Volume & Open Interest Trends

In terms of liquidity and interest, the mean open interest for Carvana options trades today is 1064.74 with a total volume of 44,977.00.

In the following chart, we are able to follow the development of volume and open interest of call and put options for Carvana's big money trades within a strike price range of $150.0 to $450.0 over the last 30 days.

Carvana 30-Day Option Volume & Interest Snapshot

Significant Options Trades Detected:

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.

After a thorough review of the options trading surrounding Carvana, we move to examine the company in more detail. This includes an assessment of its current market status and performance.

Where Is Carvana Standing Right Now?

• Currently trading with a volume of 1,955,033, the CVNA's price is up by 0.13%, now at $348.0.
• RSI readings suggest the stock is currently is currently neutral between overbought and oversold.
• Anticipated earnings release is in 79 days.

What The Experts Say On Carvana

In the last month, 5 experts released ratings on this stock with an average target price of $416.0.

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20-year pro options trader reveals his one-line chart technique that shows when to buy and sell. Copy his trades, which have had averaged a 27% profit every 20 days. Click here for access. * An analyst from JP Morgan persists with their Overweight rating on Carvana, maintaining a target price of $415. * Maintaining their stance, an analyst from Needham continues to hold a Buy rating for Carvana, targeting a price of $500. * Maintaining their stance, an analyst from JP Morgan continues to hold a Overweight rating for Carvana, targeting a price of $350. * An analyst from Wells Fargo persists with their Overweight rating on Carvana, maintaining a target price of $425. * An analyst from Wells Fargo has decided to maintain their Overweight rating on Carvana, which currently sits at a price target of $390.

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