Behind the Scenes of Carvana's Latest Options Trends
Portfolio Pulse from Benzinga Insights
Carvana (NYSE:CVNA) has seen a notable bearish trend in its options trading, with 55% of trades being bearish. Significant investors are targeting a price range of $175 to $290. Despite this, the stock price has risen by 1.36% to $205.28, and analysts have set an average price target of $209.4. The next earnings report is due in 2 days.
October 28, 2024 | 1:48 pm
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Carvana's options trading shows a bearish trend with 55% of trades being bearish. Despite this, the stock price has increased by 1.36% to $205.28. Analysts have set an average price target of $209.4, with the next earnings report due in 2 days.
The bearish trend in options trading suggests potential downward pressure on Carvana's stock. However, the recent price increase and positive analyst ratings provide a counterbalance, leading to a neutral short-term outlook. The upcoming earnings report could further influence the stock's direction.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100