Carvana Option Alert: Jun 16 $20 Calls Sweep (30) near the Ask: 2500 @ $0.57 vs 11420 OI; Ref=$14.9084
Portfolio Pulse from Charles Gross
Carvana (CVNA) sees a sweep of 2,500 June 16 $20 call options near the ask price of $0.57, compared to an open interest of 11,420. The stock is currently trading at $14.9084.
June 02, 2023 | 2:03 pm
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POSITIVE IMPACT
Carvana experiences a sweep of 2,500 June 16 $20 call options near the ask price of $0.57, compared to an open interest of 11,420. The stock is currently trading at $14.9084.
The sweep of 2,500 call options indicates increased bullish sentiment among investors, which could lead to a short-term increase in Carvana's stock price. The stock is currently trading below the $20 strike price, and if the stock price rises, these options could become profitable for the holders. This increased demand for call options could drive the stock price higher in the short term.
CONFIDENCE 90
IMPORTANCE 70
RELEVANCE 100