Looking At Carvana's Recent Unusual Options Activity
Portfolio Pulse from Benzinga Insights
A significant bearish stance has been taken on Carvana (NYSE:CVNA) as indicated by unusual options activity. The overall sentiment of these big-money traders is split between 37% bullish and 62% bearish. Whales have been targeting a price range from $30.0 to $60.0 for Carvana over the last 3 months. Morgan Stanley maintains an Underweight rating on Carvana with a price target of $37, while Jefferies and JMP Securities have downgraded their actions with price targets of $30 and $60 respectively.
August 29, 2023 | 8:16 pm
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Unusual options activity and analyst ratings indicate a bearish stance on Carvana. The stock may experience volatility in the short term.
The unusual options activity, with a majority being bearish, indicates that big-money traders are expecting the stock price to decrease. This, combined with the Underweight rating from Morgan Stanley and downgrades from Jefferies and JMP Securities, suggests a negative short-term impact on the stock.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100