Whales with a lot of money to spend have taken a noticeably bullish stance on Carvana.
Looking at options history for Carvana (NYSE: CVNA) we detected 16 trades.
If we consider the specifics of each trade, it is accurate to state that 43% of the investors opened trades with bullish expectations and 37% with bearish.
From the overall spotted trades, 9 are puts, for a total amount of $473,463 and 7, calls, for a total amount of $319,303.
What’s The Price Target?
Analyzing the Volume and Open Interest in these contracts, it seems that the big players have been eyeing a price window from $175.0 to $450.0 for Carvana during the past quarter.
Insights into Volume & Open Interest
In terms of liquidity and interest, the mean open interest for Carvana options trades today is 1376.6 with a total volume of 6,700.00.
In the following chart, we are able to follow the development of volume and open interest of call and put options for Carvana’s big money trades within a strike price range of $175.0 to $450.0 over the last 30 days.
Carvana Option Activity Analysis: Last 30 Days
Biggest Options Spotted:
| Symbol | PUT/CALL | Trade Type | Sentiment | Exp. Date | Ask | Bid | Price | Strike Price | Total Trade Price | Open Interest | Volume |
|---|---|---|---|---|---|---|---|---|---|---|---|
| CVNA | PUT | TRADE | BULLISH | 11/21/25 | $24.25 | $23.0 | $23.0 | $330.00 | $115.0K | 1.1K | 50 |
| CVNA | PUT | SWEEP | BEARISH | 10/17/25 | $20.0 | $18.6 | $18.6 | $360.00 | $101.6K | 995 | 2 |
| CVNA | CALL | TRADE | BULLISH | 01/16/26 | $132.1 | $130.4 | $132.1 | $240.00 | $66.0K | 163 | 0 |
| CVNA | PUT | TRADE | BULLISH | 10/03/25 | $10.5 | $10.15 | $10.15 | $355.00 | $63.9K | 559 | 9 |
| CVNA | CALL | SWEEP | BEARISH | 09/26/25 | $0.27 | $0.1 | $0.15 | $385.00 | $58.3K | 7.8K | 6.1K |
About Carvana
Carvana Co is an e-commerce platform for buying and selling used cars. The company derives revenue from used vehicle sales, wholesale vehicle sales and other sales and revenues. The other sales and revenues include sales of loans originated and sold in securitization transactions or to financing partners, commissions received on VSCs and sales of GAP waiver coverage. The foundation of the business is retail vehicle unit sales. This drives the majority of the revenue and allows the company to capture additional revenue streams associated with financing, VSCs, auto insurance and GAP waiver coverage, as well as trade-in vehicles.
After a thorough review of the options trading surrounding Carvana, we move to examine the company in more detail. This includes an assessment of its current market status and performance.
Carvana’s Current Market Status
- Trading volume stands at 547,711, with CVNA’s price down by -3.78%, positioned at $360.66.
- RSI indicators show the stock to be is currently neutral between overbought and oversold.
- Earnings announcement expected in 34 days.
Professional Analyst Ratings for Carvana
In the last month, 2 experts released ratings on this stock with an average target price of $432.5.
Unusual Options Activity Detected: Smart Money on the Move
Benzinga Edge’s Unusual Options board spots potential market movers before they happen. See what positions big money is taking on your favorite stocks. Click here for access.
* In a cautious move, an analyst from Stephens & Co. downgraded its rating to Overweight, setting a price target of $440.
* An analyst from JP Morgan has decided to maintain their Overweight rating on Carvana, which currently sits at a price target of $425.
Trading options involves greater risks but also offers the potential for higher profits. Savvy traders mitigate these risks through ongoing education, strategic trade adjustments, utilizing various indicators, and staying attuned to market dynamics. Keep up with the latest options trades for Carvana with Benzinga Pro for real-time alerts.
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