A whale with a lot of money to spend has taken a noticeably bearish stance on Carvana.
Looking at options history for Carvana CVNA we detected 49 strange trades.
If we consider the specifics of each trade, it is accurate to state that 46% of the investors opened trades with bullish expectations and 53% with bearish.
From the overall spotted trades, 47 are puts, for a total amount of $37,247,012 and 2, calls, for a total amount of $87,000.
What's The Price Target?
Taking into account the Volume and Open Interest on these contracts, it appears that whales have been targeting a price range from $7.5 to $540.0 for Carvana over the last 3 months.
Volume & Open Interest Development
In terms of liquidity and interest, the mean open interest for Carvana options trades today is 1874.07 with a total volume of 49,250.00.
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 $7.5 to $540.0 over the last 30 days.
Carvana Option Volume And Open Interest Over Last 30 Days
Biggest Options Spotted:
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| Symbol | PUT/CALL | Trade Type | Sentiment | Exp. Date | Strike Price | Total Trade Price | Open Interest | Volume |
|---|---|---|---|---|---|---|---|---|
| CVNA | PUT | SWEEP | BEARISH | 01/20/23 | $540.00 | $5.2M | 0 | 99 |
| CVNA | PUT | SWEEP | BEARISH | 01/20/23 | $430.00 | $4.2M | 0 | 100 |
| CVNA | PUT | SWEEP | BEARISH | 01/20/23 | $270.00 | $3.9M | 36 | 150 |
| CVNA | PUT | SWEEP | BEARISH | 01/20/23 | $310.00 | $3.0M | 0 | 100 |
| CVNA | PUT | SWEEP | BEARISH | 01/20/23 | $400.00 | $3.0M | 0 | 77 |
Where Is Carvana Standing Right Now?
- With a volume of 13,787,796, the price of CVNA is up 15.15% at $7.83.
- RSI indicators hint that the underlying stock is currently neutral between overbought and oversold.
- Next earnings are expected to be released in 92 days.
What The Experts Say On Carvana:
- Wells Fargo has decided to maintain their Equal-Weight rating on Carvana, which currently sits at a price target of $25.
- RBC Capital has decided to maintain their Sector Perform rating on Carvana, which currently sits at a price target of $14.
- Cowen & Co. downgraded its action to Market Perform with a price target of $10
- Baird downgraded its action to Neutral with a price target of $7
- Cowen & Co. has decided to maintain their Outperform rating on Carvana, which currently sits at a price target of $60.
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.
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
Date of Trade | ticker | Put/Call | Strike Price | DTE | Sentiment |
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