Deep-pocketed investors have adopted a bearish 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 28 extraordinary options activities for Carvana. This level of activity is out of the ordinary.
The general mood among these heavyweight investors is divided, with 28% leaning bullish and 60% bearish. Among these notable options, 11 are puts, totaling $757,335, and 17 are calls, amounting to $1,076,506.
What’s The Price Target?
Based on the trading activity, it appears that the significant investors are aiming for a price territory stretching from $150.0 to $250.0 for Carvana over the recent three months.
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 $150.0 to $250.0, over the past month.
Carvana Option Volume And Open Interest Over Last 30 Days
Noteworthy Options Activity:
| Symbol | PUT/CALL | Trade Type | Sentiment | Exp. Date | Ask | Bid | Price | Strike Price | Total Trade Price | Open Interest | Volume |
|---|---|---|---|---|---|---|---|---|---|---|---|
| CVNA | PUT | SWEEP | BEARISH | 04/04/25 | $3.3 | $3.25 | $3.3 | $190.00 | $222.0K | 8.8K | 1.5K |
| CVNA | CALL | SWEEP | NEUTRAL | 04/04/25 | $8.55 | $8.4 | $8.4 | $205.00 | $142.1K | 276 | 1.0K |
| CVNA | PUT | SWEEP | BEARISH | 04/11/25 | $11.7 | $11.4 | $11.6 | $200.00 | $116.0K | 492 | 117 |
| CVNA | CALL | SWEEP | BEARISH | 04/04/25 | $8.0 | $7.75 | $8.0 | $205.00 | $112.8K | 276 | 231 |
| CVNA | CALL | TRADE | BULLISH | 01/15/27 | $102.0 | $100.15 | $102.0 | $150.00 | $102.0K | 33 | 10 |
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.
Following our analysis of the options activities associated with Carvana, we pivot to a closer look at the company’s own performance.
Carvana’s Current Market Status
- Currently trading with a volume of 1,134,339, the CVNA’s price is down by -0.35%, now at $203.69.
- RSI readings suggest the stock is currently is currently neutral between overbought and oversold.
- Anticipated earnings release is in 30 days.
Expert Opinions on Carvana
Over the past month, 5 industry analysts have shared their insights on this stock, proposing an average target price of $278.0.
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* Consistent in their evaluation, an analyst from JP Morgan keeps a Overweight rating on Carvana with a target price of $365.
* In a positive move, an analyst from Piper Sandler has upgraded their rating to Overweight and adjusted the price target to $225.
* In a positive move, an analyst from Morgan Stanley has upgraded their rating to Overweight and adjusted the price target to $280.
* Consistent in their evaluation, an analyst from B of A Securities keeps a Buy rating on Carvana with a target price of $220.
* An analyst from Stephens & Co. downgraded its action to Overweight with a price target of $300.
Trading options involves greater risks but also offers the potential for higher profits. Savvy traders mitigate these risks through ongoing education, strategic trade adjustments, utilizing various indicators, and staying attuned to market dynamics. Keep up with the latest options trades for Carvana with Benzinga Pro for real-time alerts.
