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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 these are institutions or just wealthy individuals, we don't know. But when something this big happens with CVNA, it often means somebody knows something is about to happen.
So how do we know what these investors just did?
Today, Benzinga's options scanner spotted 11 uncommon options trades for Carvana.
This isn't normal.
The overall sentiment of these big-money traders is split between 36% bullish and 54%, bearish.
Out of all of the special options we uncovered, 4 are puts, for a total amount of $517,362, and 7 are calls, for a total amount of $255,097.
Analyzing the Volume and Open Interest in these contracts, it seems that the big players have been eyeing a price window from $130.0 to $170.0 for Carvana during the past quarter.
In today's trading context, the average open interest for options of Carvana stands at 1410.0, with a total volume reaching 3,611.00. The accompanying chart delineates the progression of both call and put option volume and open interest for high-value trades in Carvana, situated within the strike price corridor from $130.0 to $170.0, throughout the last 30 days.
Symbol | PUT/CALL | Trade Type | Sentiment | Exp. Date | Ask | Bid | Price | Strike Price | Total Trade Price | Open Interest | Volume |
---|---|---|---|---|---|---|---|---|---|---|---|
CVNA | PUT | SWEEP | BULLISH | 11/15/24 | $10.55 | $10.15 | $10.15 | $130.00 | $380.6K | 737 | 375 |
CVNA | PUT | TRADE | BEARISH | 10/18/24 | $27.5 | $26.3 | $27.5 | $170.00 | $60.5K | 128 | 0 |
CVNA | PUT | TRADE | NEUTRAL | 10/18/24 | $24.55 | $23.55 | $24.0 | $170.00 | $48.0K | 128 | 52 |
CVNA | CALL | TRADE | BULLISH | 09/20/24 | $12.7 | $12.35 | $12.7 | $135.00 | $44.4K | 899 | 77 |
CVNA | CALL | SWEEP | BEARISH | 09/20/24 | $4.5 | $3.95 | $3.95 | $145.00 | $39.9K | 6.5K | 334 |
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.
Over the past month, 3 industry analysts have shared their insights on this stock, proposing an average target price of $182.33333333333334.
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.
Posted In: CVNA