Carvana Option Alert: Aug 18 $40 Calls Sweep (17) near the Ask: 636 @ $2.9 vs 1450 OI; Earnings 8/3 After Close [est] Ref=$26.32
Portfolio Pulse from Charles Gross
Carvana (CVNA) sees a significant increase in Aug 18 $40 call options near the ask price, with 636 contracts traded at $2.9 compared to 1450 open interest. Earnings are expected on August 3 after market close.
June 15, 2023 | 7:56 pm
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NEUTRAL IMPACT
Carvana's stock may experience short-term volatility due to the increased activity in Aug 18 $40 call options. Earnings announcement on August 3 may also impact the stock price.
The increased activity in Carvana's Aug 18 $40 call options indicates that investors are expecting a potential increase in the stock price. However, the upcoming earnings announcement on August 3 may also influence the stock price, causing short-term volatility. The overall impact on the stock price is uncertain, hence the neutral score.
CONFIDENCE 80
IMPORTANCE 70
RELEVANCE 100