Investors with a lot of money to spend have taken a bullish stance on Carvana (NYSE: 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 43 uncommon options trades for Carvana.
This isn't normal.
The overall sentiment of these big-money traders is split between 53% bullish and 23%, bearish.
Out of all of the special options we uncovered, 20 are puts, for a total amount of $958,479, and 23 are calls, for a total amount of $1,658,767.
Expected Price Movements
Based on the trading activity, it appears that the significant investors are aiming for a price territory stretching from $200.0 to $610.0 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 1024.06, with a total volume reaching 14,062.00. 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 $200.0 to $610.0, throughout the last 30 days.
Carvana Option Activity Analysis: Last 30 Days
Biggest Options Spotted:
| Symbol | PUT/CALL | Trade Type | Sentiment | Exp. Date | Ask | Bid | Price | Strike Price | Total Trade Price | Open Interest | Volume |
|---|---|---|---|---|---|---|---|---|---|---|---|
| CVNA | CALL | SWEEP | BULLISH | 10/17/25 | $2.1 | $1.79 | $2.1 | $450.00 | $213.1K | 5.1K | 3.0K |
| CVNA | CALL | SWEEP | BEARISH | 06/17/27 | $82.5 | $79.8 | $79.8 | $500.00 | $199.5K | 150 | 25 |
| CVNA | CALL | TRADE | BULLISH | 06/17/27 | $129.75 | $127.55 | $129.75 | $370.00 | $168.6K | 25 | 0 |
| CVNA | CALL | TRADE | BULLISH | 03/20/26 | $60.0 | $57.5 | $60.0 | $400.00 | $132.0K | 1.1K | 1 |
| CVNA | CALL | SWEEP | BULLISH | 10/17/25 | $28.0 | $26.0 | $26.35 | $370.00 | $92.2K | 668 | 62 |
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.
Current Position of Carvana
- Trading volume stands at 901,894, with CVNA's price up by 0.73%, positioned at $372.0.
- RSI indicators show the stock to be may be approaching overbought.
- Earnings announcement expected in 30 days.
What The Experts Say On Carvana
In the last month, 2 experts released ratings on this stock with an average target price of $432.5.
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 JP Morgan continues to hold a Overweight rating for Carvana, targeting a price of $425. * In a cautious move, an analyst from Stephens & Co. downgraded its rating to Overweight, setting a price target of $440.
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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