Benzinga | Dec 17, 2021 10:50AM EST

What Are Whales Doing With Carvana

A whale with a lot of money to spend has taken a noticeably bullish stance on Carvana.

Looking at options history for Carvana (NYSE:CVNA) we detected 18 strange trades.

If we consider the specifics of each trade, it is accurate to state that 55% of the investors opened trades with bullish expectations and 44% with bearish.

From the overall spotted trades, 14 are puts, for a total amount of $860,062 and 4, calls, for a total amount of $178,587.

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 $170.0 to $350.0 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 $170.0 to $350.0 in the last 30 days.

Carvana Option Volume And Open Interest Over Last 30 Days

Biggest Options Spotted:



Symbol PUT/ Trade Sentiment Exp. Strike Total Trade Open Volume CALL Type Date Price Price InterestCVNA PUT SWEEP BEARISH 01/14/ $200.00 $185.6K 14 0 22CVNA PUT TRADE NEUTRAL 01/21/ $220.00 $140.0K 948 7 22CVNA PUT SWEEP BEARISH 03/18/ $200.00 $80.3K 25.8K 3 22CVNA CALL SWEEP NEUTRAL 12/23/ $205.00 $76.6K 109 4 21CVNA PUT SWEEP BULLISH 02/18/ $220.00 $67.5K 387 35 22

Where Is Carvana Standing Right Now?

* With a volume of 955,245.00, the price of CVNA is down -1.45% at $201.17.

* RSI indicators hint that the underlying stock may be oversold.

* Next earnings are expected to be released in 69 days.

What The Experts Say On Carvana:

* Wells Fargo has decided to maintain their Overweight rating on Carvana, which currently sits at a price target of $375.

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 are already an options trader or would like to get started, head on over to Benzinga Pro. Benzinga Pro gives you up-to-date news and analytics to empower your investing and trading strategy.