Carvana Whale Trades Spotted

Someone with a lot of money to spend has taken a bearish stance on Carvana (NYSE:CVNA). And retail traders should know. As large positions show up today on publicly available options history.

05/10/2022 13:02

Someone with a lot of money to spend has taken a bearish stance on Carvana (NYSE:CVNA).

And retail traders should know.

We noticed this today when the big position showed up on publicly available options history that we track.

Whether this is an institution or just a wealthy individual, 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 this whale just did?

Today, our options scanner spotted 44 uncommon options trades for Carvana.

This isn’t normal.

The overall sentiment of these big-money traders is split between 40% bullish and 59%, bearish.

Out of all of the special options we uncovered, 30 are puts, for a total amount of $2,062,273, and 14 are calls, for a total amount of $883,298.

What’s The Price Target?

Taking into account the Volume and Open Interest on these contracts, it appears that whales have been targeting a price range from $25.0 to $95.0 for Carvana over the last 3 months.

Volume & Open Interest Development

Looking at the volume and open interest is a powerful move while trading options. This data can help you track the liquidity and interest for Carvana’s options for a given strike price. Below, we can observe the evolution of the volume and open interest of calls and puts, respectively, for all of Carvana’s whale trades within a strike price range from $25.0 to $95.0 in the last 30 days.

Carvana Option Volume And Open Interest Over Last 30 Days

Biggest Options Spotted:

Symbol	PUT/CALL	Trade Type	Sentiment	Exp. Date	Strike Price	Total Trade Price	Open Interest	Volume
CVNA	PUT	SWEEP	BEARISH	05/13/22	$40.00	$210.0K	1.5K	562
CVNA	PUT	SWEEP	BULLISH	05/27/22	$60.00	$179.7K	223	140
CVNA	CALL	SWEEP	BULLISH	05/20/22	$33.00	$148.5K	0	198
CVNA	PUT	TRADE	BULLISH	01/19/24	$95.00	$135.7K	303	144
CVNA	PUT	TRADE	BULLISH	01/19/24	$95.00	$129.7K	303	122

Where Is Carvana Standing Right Now?

• With a volume of 9,268,837, the price of CVNA is down -8.31% at $35.55.
• RSI indicators hint that the underlying stock may be oversold.
• Next earnings are expected to be released in 86 days.

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.