Financial giants have made a conspicuous bullish move on Carvana ( CVNA ). Our analysis of options history for Carvana ( CVNA ) revealed 30 unusual trades.
Delving into the details, we found 63% of traders were bullish, while 33% showed bearish tendencies. Out of all the trades we spotted, 8 were puts, with a value of $383,498, and 22 were calls, valued at $1,311,335.
Taking into account the Volume and Open Interest on these contracts, it appears that whales have been targeting a price range from $130.0 to $290.0 for Carvana ( CVNA ) over the last 3 months.
Examining the volume and open interest provides crucial insights into stock research. This information is key in gauging liquidity and interest levels for Carvana's ( CVNA ) options at certain strike prices. Below, we present a snapshot of the trends in volume and open interest for calls and puts across Carvana's ( CVNA ) significant trades, within a strike price range of $130.0 to $290.0, over the past month.
| Symbol | PUT/CALL | Trade Type | Sentiment | Exp. Date | Ask | Bid | Price | Strike Price | Total Trade Price | Open Interest | Volume |
|---|---|---|---|---|---|---|---|---|---|---|---|
| CVNA | CALL | TRADE | BULLISH | 204 | 40 | ||||||
| CVNA | CALL | TRADE | BULLISH | 145 | 30 | ||||||
| CVNA | CALL | TRADE | BULLISH | 38 | 19 | ||||||
| CVNA | CALL | SWEEP | BULLISH | 17 | 1 | ||||||
| CVNA | CALL | TRADE | BEARISH | 17 | 101 |
Carvana Co ( CVNA ) 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.
Trading volume stands at 2,507,021, with CVNA's price up by 1.23%, positioned at $202.68.
RSI indicators show the stock to be may be overbought.
Earnings announcement expected in 5 days.
5 market experts have recently issued ratings for this stock, with a consensus target price of $197.0.
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* An analyst from Evercore ISI Group has decided to maintain their In-Line rating on Carvana ( CVNA ), which currently sits at a price target of $182.
* An analyst from Evercore ISI Group downgraded its action to In-Line with a price target of $178.
* An analyst from Jefferies has decided to maintain their Hold rating on Carvana ( CVNA ), which currently sits at a price target of $185.
* Consistent in their evaluation, an analyst from B of A Securities keeps a Buy rating on Carvana ( CVNA ) with a target price of $210.
* An analyst from JP Morgan persists with their Overweight rating on Carvana ( CVNA ), maintaining a target price of $230.
Options trading presents higher risks and potential rewards. Astute traders manage these risks by continually educating themselves, adapting their strategies, monitoring multiple indicators, and keeping a close eye on market movements. Stay informed about the latest Carvana ( CVNA ) options trades with real-time alerts from Benzinga Pro.
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