Whales with a lot of money to spend have taken a noticeably bullish stance on Carvana.
Looking at options history for Carvana (NYSE:CVNA) we detected 16 trades.
If we consider the specifics of each trade, it is accurate to state that 62% of the investors opened trades with bullish expectations and 37% with bearish.
From the overall spotted trades, 4 are puts, for a total amount of $170,620 and 12, calls, for a total amount of $1,354,867.
What's The Price Target?
Based on the trading activity, it appears that the significant investors are aiming for a price territory stretching from $70.0 to $160.0 for Carvana over the recent three months.
Volume & Open Interest Trends
In terms of liquidity and interest, the mean open interest for Carvana options trades today is 2422.07 with a total volume of 37.00.
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 $70.0 to $160.0 over the last 30 days.
Carvana Call and Put Volume: 30-Day Overview
Noteworthy Options Activity:
| Symbol | PUT/CALL | Trade Type | Sentiment | Exp. Date | Ask | Bid | Price | Strike Price | Total Trade Price | Open Interest | Volume |
|---|---|---|---|---|---|---|---|---|---|---|---|
| CVNA | CALL | SWEEP | BEARISH | 08/02/24 | $19.15 | $18.1 | $18.1 | $130.00 | $724.0K | 427 | 0 |
| CVNA | CALL | TRADE | BULLISH | 07/19/24 | $26.2 | $25.1 | $26.2 | $110.00 | $131.0K | 23.7K | 0 |
| CVNA | CALL | TRADE | BEARISH | 08/16/24 | $53.25 | $51.0 | $51.0 | $85.00 | $127.5K | 607 | 0 |
| CVNA | CALL | TRADE | BULLISH | 09/20/24 | $24.35 | $23.9 | $24.35 | $130.00 | $73.0K | 763 | 11 |
| CVNA | CALL | SWEEP | BULLISH | 06/28/24 | $4.85 | $4.65 | $4.85 | $131.00 | $67.4K | 1.1K | 8 |
About Carvana
Carvana Co 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.
Carvana's Current Market Status
- With a volume of 98,588, the price of CVNA is up 0.7% at $133.81.
- RSI indicators hint that the underlying stock may be overbought.
- Next earnings are expected to be released in 19 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.