Carvana's Options Frenzy: What You Need to Know
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 33 extraordinary options activities for Carvana. This level of activity is out of the ordinary.
The general mood among these heavyweight investors is divided, with 42% leaning bullish and 42% bearish. Among these notable options, 19 are puts, totaling $1,388,305, and 14 are calls, amounting to $548,770.
What's The Price Target?
Analyzing the Volume and Open Interest in these contracts, it seems that the big players have been eyeing a price window from $185.0 to $510.0 for Carvana during the past quarter.
Volume & Open Interest Development
In terms of liquidity and interest, the mean open interest for Carvana options trades today is 476.96 with a total volume of 711.00.
In the following chart, we are able to follow the development of volume and open interest of call and put options for Carvana's big money trades within a strike price range of $185.0 to $510.0 over the last 30 days.
Carvana Call and Put Volume: 30-Day Overview
Biggest Options Spotted:
| Symbol | PUT/CALL | Trade Type | Sentiment | Exp. Date | Ask | Bid | Price | Strike Price | Total Trade Price | Open Interest | Volume |
|---|---|---|---|---|---|---|---|---|---|---|---|
| CVNA | PUT | TRADE | BULLISH | 06/18/26 | $29.4 | $28.8 | $28.9 | $240.00 | $430.6K | 64 | 225 |
| CVNA | PUT | SWEEP | NEUTRAL | 06/18/26 | $29.1 | $28.85 | $28.98 | $240.00 | $173.7K | 64 | 74 |
| CVNA | CALL | TRADE | BULLISH | 11/21/25 | $42.6 | $42.1 | $42.6 | $360.00 | $106.5K | 195 | 40 |
| CVNA | PUT | TRADE | BEARISH | 01/16/26 | $43.2 | $43.1 | $43.2 | $320.00 | $86.4K | 263 | 20 |
| CVNA | PUT | TRADE | BEARISH | 08/01/25 | $16.85 | $16.0 | $16.51 | $320.00 | $80.8K | 147 | 50 |
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 759,199, the price of CVNA is down by -1.12%, reaching $337.75.
- Current RSI values indicate that the stock is may be approaching overbought.
- Next earnings report is scheduled for 7 days from now.
What Analysts Are Saying About Carvana
5 market experts have recently issued ratings for this stock, with a consensus target price of $367.0.
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* Maintaining their stance, an analyst from Stephens & Co. continues to hold a Overweight rating for Carvana, targeting a price of $375.
* Maintaining their stance, an analyst from Citigroup continues to hold a Buy rating for Carvana, targeting a price of $415.
* An analyst from JP Morgan has decided to maintain their Overweight rating on Carvana, which currently sits at a price target of $350.
* Maintaining their stance, an analyst from Evercore ISI Group continues to hold a In-Line rating for Carvana, targeting a price of $305.
* Consistent in their evaluation, an analyst from Wells Fargo keeps a Overweight rating on Carvana with a target price of $390.
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.
