Carvana Unusual Options Activity
Portfolio Pulse from Benzinga Insights
Investors with significant capital have taken a bearish stance on Carvana (NYSE:CVNA), as observed through unusual options activity. Benzinga's options scanner detected 9 trades, with a split sentiment of 44% bullish and 55% bearish. The trades suggest a targeted price range of $80 to $130 for CVNA over the last three months. Currently, CVNA is trading at $115.98, with mixed analyst ratings and an anticipated earnings release in 56 days.
May 22, 2024 | 2:46 pm
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Carvana has seen unusual options activity with a bearish sentiment from big-money traders. The stock is currently trading at $115.98, with mixed analyst ratings and an anticipated earnings release in 56 days.
The detection of unusual options activity with a bearish sentiment suggests that significant investors are expecting a potential decline in Carvana's stock price. The mixed analyst ratings and the RSI indicating the stock may be overbought further support this bearish outlook.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100