Investors with a lot of money to spend have taken a bearish stance on Carvana (NYSE:CVNA).
And retail traders should know.
We noticed this today when the trades 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.
Today, Benzinga's options scanner spotted 12 options trades for Carvana.
This isn't normal.
The overall sentiment of these big-money traders is split between 41% bullish and 58%, bearish.
Out of all of the options we uncovered, 11 are puts, for a total amount of $494,375, and there was 1 call, for a total amount of $25,571.
Expected Price Movements
Analyzing the Volume and Open Interest in these contracts, it seems that the big players have been eyeing a price window from $55.0 to $170.0 for Carvana during the past quarter.
Volume & Open Interest Trends
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 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 significant trades, within a strike price range of $55.0 to $170.0, over the past month.
Carvana Option Volume And Open Interest Over Last 30 Days
Biggest Options Spotted:
| Symbol | PUT/CALL | Trade Type | Sentiment | Exp. Date | Ask | Bid | Price | Strike Price | Total Trade Price | Open Interest | Volume |
|---|---|---|---|---|---|---|---|---|---|---|---|
| CVNA | PUT | SWEEP | BEARISH | 10/18/24 | $27.1 | $26.65 | $27.1 | $170.00 | $81.3K | 94 | 38 |
| CVNA | PUT | TRADE | BULLISH | 02/21/25 | $36.2 | $35.2 | $35.2 | $160.00 | $59.8K | 67 | 17 |
| CVNA | PUT | SWEEP | BULLISH | 02/21/25 | $28.55 | $28.45 | $28.55 | $150.00 | $51.3K | 80 | 21 |
| CVNA | PUT | TRADE | BULLISH | 11/15/24 | $20.65 | $20.55 | $20.55 | $150.00 | $49.3K | 396 | 27 |
| CVNA | PUT | TRADE | BULLISH | 06/20/25 | $4.05 | $2.91 | $2.91 | $55.00 | $43.6K | 333 | 0 |
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.
After a thorough review of the options trading surrounding Carvana, we move to examine the company in more detail. This includes an assessment of its current market status and performance.
Present Market Standing of Carvana
- With a volume of 1,114,655, the price of CVNA is up 0.64% at $145.44.
- RSI indicators hint that the underlying stock may be approaching overbought.
- Next earnings are expected to be released in 57 days.
Expert Opinions on Carvana
In the last month, 1 experts released ratings on this stock with an average target price of $142.0.
- Maintaining their stance, an analyst from Evercore ISI Group continues to hold a In-Line rating for Carvana, targeting a price of $142.
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.
