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Behind the Scenes of Carvana's Latest Options Trends
Carvana Co. Class A +6.37%
Carvana Co. Class A CVNA | 235.02 | +6.37% |
Deep-pocketed investors have adopted a bullish approach towards Carvana (NYSE:CVNA), and it's something market players shouldn't ignore. Our tracking of public options records at Benzinga unveiled this significant move today. The identity of these investors remains unknown, but such a substantial move in CVNA usually suggests something big is about to happen.
We gleaned this information from our observations today when Benzinga's options scanner highlighted 105 extraordinary options activities for Carvana. This level of activity is out of the ordinary.
The general mood among these heavyweight investors is divided, with 40% leaning bullish and 33% bearish. Among these notable options, 59 are puts, totaling $4,111,062, and 46 are calls, amounting to $2,899,107.
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 $30.0 to $290.0 for Carvana during the past quarter.
Analyzing Volume & Open Interest
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 $30.0 to $290.0, over the past month.
Carvana 30-Day Option Volume & Interest Snapshot
Largest Options Trades Observed:
| Symbol | PUT/CALL | Trade Type | Sentiment | Exp. Date | Ask | Bid | Price | Strike Price | Total Trade Price | Open Interest | Volume |
|---|---|---|---|---|---|---|---|---|---|---|---|
| CVNA | CALL | SWEEP | BEARISH | 04/17/25 | $16.65 | $16.6 | $16.6 | $170.00 | $132.8K | 146 | 295 |
| CVNA | PUT | TRADE | BEARISH | 05/16/25 | $26.1 | $25.1 | $26.1 | $165.00 | $130.5K | 866 | 65 |
| CVNA | PUT | SWEEP | BULLISH | 04/25/25 | $10.0 | $9.2 | $9.2 | $140.00 | $119.6K | 76 | 140 |
| CVNA | PUT | SWEEP | BEARISH | 04/11/25 | $11.8 | $11.35 | $11.8 | $162.50 | $117.9K | 78 | 572 |
| CVNA | CALL | SWEEP | BEARISH | 04/17/25 | $15.45 | $15.0 | $15.0 | $175.00 | $105.0K | 200 | 129 |
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.
Where Is Carvana Standing Right Now?
- With a trading volume of 4,590,538, the price of CVNA is up by 4.24%, reaching $169.47.
- Current RSI values indicate that the stock is is currently neutral between overbought and oversold.
- Next earnings report is scheduled for 23 days from now.
What The Experts Say On Carvana
Over the past month, 5 industry analysts have shared their insights on this stock, proposing an average target price of $258.0.
Unusual Options Activity Detected: Smart Money on the Move
Benzinga Edge's Unusual Options board spots potential market movers before they happen. See what positions big money is taking on your favorite stocks. Click here for access. * An analyst from Morgan Stanley has elevated its stance to Overweight, setting a new price target at $280. * An analyst from Piper Sandler has elevated its stance to Overweight, setting a new price target at $225. * Consistent in their evaluation, an analyst from Evercore ISI Group keeps a In-Line rating on Carvana with a target price of $240. * An analyst from B of A Securities persists with their Buy rating on Carvana, maintaining a target price of $220. * An analyst from JP Morgan has decided to maintain their Overweight rating on Carvana, which currently sits at a price target of $325.
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 options trades with real-time alerts from Benzinga Pro.
