Check Out What Whales Are Doing With CVNA
Portfolio Pulse from Benzinga Insights
Whales have shown a bearish stance on Carvana (CVNA), with 72% of detected trades being bearish. The trades range between puts and calls with a focus on a price range of $37.5 to $80.0 for CVNA over the last 3 months. The largest trades include both bearish and neutral sentiments, with significant amounts invested in options. Carvana's market status shows a slight increase in stock price to $49.74, with an RSI indicating it may be approaching overbought territory. An earnings announcement is expected imminently.
February 22, 2024 | 7:16 pm
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NEGATIVE IMPACT
Whales' bearish stance and significant options trading activity indicate a bearish outlook for CVNA in the short term, despite a slight increase in stock price.
The bearish sentiment among whales, evidenced by 72% of trades being bearish and the significant volume of puts, suggests a negative outlook for CVNA's stock price in the short term. This is further supported by the current RSI indicators hinting at an overbought condition, which could lead to a price correction. However, the imminent earnings announcement adds uncertainty, as it could potentially sway the stock's direction depending on the outcome.
CONFIDENCE 80
IMPORTANCE 90
RELEVANCE 100