This Is What Whales Are Betting On Carvana
Portfolio Pulse from Benzinga Insights
Financial giants have shown a bearish stance on Carvana (NYSE:CVNA), with options trading revealing 71% bearish and 28% bullish sentiments. The analysis of unusual trades highlighted a price target range of $40.0 to $90.0. The largest trades included both bullish and bearish calls and puts, with significant open interest and volume in these options. Carvana, an e-commerce platform for buying and selling used cars, saw its stock price down -2.14% at $78.7, with indicators suggesting it may be overbought. The next earnings report is expected in 64 days.

February 28, 2024 | 3:01 pm
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Carvana shows a bearish sentiment among financial giants with a significant volume of bearish options trades. The stock is currently down, and indicators suggest it may be overbought.
The bearish sentiment among financial giants, as evidenced by the options trading data, suggests a negative outlook for Carvana's stock price in the short term. The current stock price decline and the overbought indicators further support this bearish perspective. Given the significant volume of bearish trades and the current market position of Carvana, it's reasonable to expect a negative impact on the stock price in the short term.
CONFIDENCE 85
IMPORTANCE 90
RELEVANCE 100