Looking At Carvana's Recent Unusual Options Activity

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 11 strange trades.

If we consider the specifics of each trade, it is accurate to state that 18% of the investors opened trades with bullish expectations and 81% with bearish.

From the overall spotted trades, 8 are puts, for a total amount of $2,215,014 and 3, calls, for a total amount of $93,707.

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 $3.0 to $480.0 for Carvana over the last 3 months.

Volume & Open Interest Development

Looking at the volume and open interest is a powerful move while trading options. This data can help you track the liquidity and interest for Carvana's options for a given strike price. Below, we can observe the evolution of the volume and open interest of calls and puts, respectively, for all of Carvana's whale trades within a strike price range from $3.0 to $480.0 in the last 30 days.

Carvana Option Volume And Open Interest Over Last 30 Days

Biggest Options Spotted:

 

Symbol PUT/CALL Trade Type Sentiment Exp. Date Strike Price Total Trade Price Open Interest Volume
CVNA PUT SWEEP BEARISH 01/20/23 $480.00 $1.8M 0 39
CVNA PUT SWEEP BEARISH 01/20/23 $6.00 $120.0K 114 516
CVNA PUT SWEEP BULLISH 02/17/23 $30.00 $85.7K 1.0K 33
CVNA PUT TRADE NEUTRAL 02/17/23 $50.00 $46.1K 0 10
CVNA CALL SWEEP BULLISH 03/17/23 $3.00 $36.0K 13 201

Where Is Carvana Standing Right Now?

  • With a volume of 7,624,500, the price of CVNA is down -5.31% at $3.83.
  • RSI indicators hint that the underlying stock may be approaching oversold.
  • Next earnings are expected to be released in 58 days.

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.

Market News and Data brought to you by Benzinga APIs
Date of Trade
ticker
Put/Call
Strike Price
DTE
Sentiment
Posted In: OptionsMarketsBZI-UOA
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