Carvana Unusual Options Activity

Someone with a lot of money to spend has taken a bullish stance on Carvana CVNA.

And retail traders should know.

We noticed this today when the big position showed up on publicly available options history that we track here at Benzinga.

Whether this is an institution or just a wealthy individual, 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 this whale just did?

Today, Benzinga's options scanner spotted 27 uncommon options trades for Carvana.

This isn't normal.

The overall sentiment of these big-money traders is split between 51% bullish and 48%, bearish.

Out of all of the special options we uncovered, 12 are puts, for a total amount of $1,718,742, and 15 are calls, for a total amount of $1,035,080.

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 $4.5 to $85.0 for Carvana over the last 3 months.

Volume & Open Interest Development

Looking at the volume and open interest is an insightful way to conduct due diligence on a stock.

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 activity within a strike price range from $4.5 to $85.0 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 TRADE BULLISH 01/19/24 $60.00 $528.5K 314 212
CVNA PUT TRADE NEUTRAL 01/19/24 $60.00 $528.0K 314 112
CVNA CALL TRADE BEARISH 04/21/23 $4.50 $200.0K 1.1K 0
CVNA PUT SWEEP BEARISH 01/19/24 $5.00 $168.0K 13.3K 966
CVNA CALL SWEEP BEARISH 03/17/23 $5.00 $161.8K 11.3K 2.5K

Where Is Carvana Standing Right Now?

  • With a volume of 34,874,433, the price of CVNA is down -7.6% at $7.42.
  • RSI indicators hint that the underlying stock may be approaching overbought.
  • Next earnings are expected to be released in 41 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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