Carvana Options: What Recent Flow Suggests
Large investors have been leaning constructively toward Carvana, a prominent name in used-car e-commerce. Below, we walk through what the latest options flow shows, where activity has clustered, and how traders appear to be positioning around CVNA.
Options History, By the Numbers
Looking over Carvana’s recent options history (CVNA), we counted 51 trades. Within that mix, about 43% of the activity reflected expectations for a move higher, while 41% pointed to potential downside. Put simply: sentiment looks mixed, with a slight edge toward caution even as a meaningful slice of traders continue to bet on strength.
Trade Breakdown
The tilt shows up in the construction of the flow. Of the 51 trades, 41 were puts, totaling $3,020,691, and 10 were calls, totaling $789,526. The balance toward puts hints at some apprehension, even as bullish interest remains present on the call side.
Implied Price Range From Positioning
When we pair trading volumes with open interest, the footprints point to influential participants focusing on a zone between $70.0 and $160.0 for Carvana. That bracket reflects how positioning has taken shape over the past three months.
Volume and Open Interest: What They’re Saying
Shifts in volume and open interest around key strikes often mirror where liquidity and attention are building. For Carvana, the recent trends in these measures outline how traders have expressed their views across the options chain over the past month.
Recent Options Volume Snapshot
Within the identified strike range, both calls and puts have seen meaningful activity. The pattern of this flow helps sketch the market’s read on CVNA’s potential path—where traders are willing to pay up for protection, and where they see room for upside.
Notable Options Activity
Among the individual prints, we observed a mix of bullish and neutral stances across different strategies. Together, these moves illustrate how views on Carvana’s share price have been evolving—less a single story, more a push and pull.
Detailed Trade Examples
For instance:
- One notable bullish trade appeared in a call option with a $125 strike, expiring 03/21/25, with roughly $496.0K in total premium traded.
- There was also a put option trade totaling $319.5K—an expression of caution despite its bullish classification within the flow.
About Carvana
Carvana Co runs a broad e-commerce platform focused on buying and selling used cars. Revenue comes from retail vehicle sales and wholesale transactions, along with income tied to financing—loans, vehicle service contracts (VSCs), and other related products.
Carvana’s Current Market Snapshot
Most recently, CVNA traded at $128.12, down 5.43%. Reported volume came in at 3,208,214. Meanwhile, the Relative Strength Index (RSI) indicates the stock may soon approach oversold territory.
Upcoming Earnings and Analyst Views
Analysts currently expect Carvana to report earnings in approximately 51 days. Recent assessments point to a consensus target price of $200.0. Notably, JMP Securities shifted its rating to Market Outperform with that same $200.0 target.
On Risk and Reward in Options
Options amplify both risk and opportunity. Traders who work with them tend to stay selective, adjust as conditions change, and keep a close eye on the tape. The approach matters as much as the view.
Frequently Asked Questions
What is the current price of Carvana (CVNA)?
Carvana’s stock is quoted at $128.12.
What percentage of options trades are bullish for Carvana?
About 43% of the recent trades were opened with a bullish view.
What are the significant expiration dates for recent options?
Key recent expirations include 03/21/25 and 09/20/24.
How much total was traded in puts for Carvana?
Roughly $3,020,691 in total put premium traded.
What is Carvana’s primary source of revenue?
Carvana’s primary revenue driver is retail vehicle unit sales.
