What the Options Market Tells Us About Carvana
Portfolio Pulse from Benzinga Insights
Financial analysts have observed a bullish trend in Carvana (NYSE:CVNA) based on unusual options trading activity. Analysis revealed 74% bullish and 25% bearish trades, with significant investors targeting a price range of $25.0 to $125.0 for CVNA over the next three months. The company, an e-commerce platform for buying and selling used cars, has seen its stock price increase by 2.03% to $78.9. The current RSI suggests the stock may be overbought, with the next earnings report due in 57 days.
March 06, 2024 | 4:45 pm
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Carvana shows a bullish trend in options trading, with a significant price target range of $25-$125. The stock recently increased by 2.03% to $78.9, but RSI indicates it may be overbought.
The bullish trend in options trading suggests investor confidence in Carvana, potentially driving short-term price increases. However, the overbought RSI could temper gains, indicating a need for cautious optimism.
CONFIDENCE 85
IMPORTANCE 90
RELEVANCE 100