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Carvana 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 19 strange trades.

If we consider the specifics of each trade, it is accurate to state that 36% of the investors opened trades with bullish expectations and 63% with bearish.

From the overall spotted trades, 10 are puts, for a total amount of $533,055 and 9, calls, for a total amount of $757,429.

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 $10.0 to $27.5 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 1284.07 with a total volume of 29,973.00.

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 $10.0 to $27.5 over 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 CALL SWEEP BEARISH 11/18/22 $11.00 $221.5K 2 2.6K
CVNA CALL SWEEP BEARISH 01/19/24 $20.00 $193.6K 418 1.1K
CVNA PUT SWEEP BULLISH 03/17/23 $12.50 $156.0K 840 408
CVNA CALL SWEEP BULLISH 01/19/24 $20.00 $92.4K 418 442
CVNA PUT SWEEP BEARISH 11/11/22 $10.00 $79.0K 874 1.9K
Symbol PUT/CALL Trade Type Sentiment Exp. Date Strike Price Total Trade Price Open Interest Volume
CVNA CALL SWEEP BEARISH 11/18/22 $11.00 $221.5K 2 2.6K
CVNA CALL SWEEP BEARISH 01/19/24 $20.00 $193.6K 418 1.1K
CVNA PUT SWEEP BULLISH 03/17/23 $12.50 $156.0K 840 408
CVNA CALL SWEEP BULLISH 01/19/24 $20.00 $92.4K 418 442
CVNA PUT SWEEP BEARISH 11/11/22 $10.00 $79.0K 874 1.9K

Where Is Carvana Standing Right Now?

  • With a volume of 21,980,169, the price of CVNA is down -29.83% at $10.07.
  • RSI indicators hint that the underlying stock may be oversold.
  • Next earnings are expected to be released in 111 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 $30.
  • Cowen & Co. has decided to maintain their Outperform rating on Carvana, which currently sits at a price target of $60.
  • Morgan Stanley has decided to maintain their Equal-Weight rating on Carvana, which currently sits at a price target of $68.
  • JMP Securities has decided to maintain their Market Outperform rating on Carvana, which currently sits at a price target of $45.
  • RBC Capital has decided to maintain their Sector Perform rating on Carvana, which currently sits at a price target of $14.

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.

This post was originally published on this site

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