Carvana Option Alert: May 17 $105 Calls Sweep (4) near the Ask: 250 @ $1.38 vs 657 OI; Ref=$75.41
Portfolio Pulse from Charles Gross
A significant options trade was observed for Carvana (CVNA), involving a sweep of 250 May 17 $105 call options at $1.38 each, with the stock reference price at $75.41. This activity compares to an open interest of 657 for these options.
April 23, 2024 | 3:24 pm
News sentiment analysis
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POSITIVE IMPACT
The purchase of May 17 $105 call options in a sweep indicates a bullish sentiment among investors towards Carvana, suggesting expectations of a significant price increase.
The trade suggests that investors are expecting Carvana's stock price to rise significantly, enough to surpass the $105 strike price by May 17. This is a bullish signal and could lead to short-term price appreciation if the market shares this sentiment. The size of the trade compared to the open interest indicates a notable level of confidence in Carvana's potential for growth.
CONFIDENCE 80
IMPORTANCE 75
RELEVANCE 90