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 26 trades.

If we consider the specifics of each trade, it is accurate to state that 50% of the investors opened trades with bullish expectations and 34% with bearish.

From the overall spotted trades, 11 are puts, for a total amount of $776,441 and 15, calls, for a total amount of $1,126,926.

Projected Price Targets

Based on the trading activity, it appears that the significant investors are aiming for a price territory stretching from $75.0 to $200.0 for Carvana over the recent three months.

Volume & Open Interest Trends

In terms of liquidity and interest, the mean open interest for Carvana options trades today is 1539.86 with a total volume of 12,069.00.

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 $75.0 to $200.0 over the last 30 days.

Carvana Call and Put Volume: 30-Day Overview

Noteworthy Options Activity:

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.

Following our analysis of the options activities associated with Carvana, we pivot to a closer look at the company's own performance.

Where Is Carvana Standing Right Now?

• With a trading volume of 924,340, the price of CVNA is up by 0.04%, reaching $156.0.
• Current RSI values indicate that the stock is may be approaching overbought.
• Next earnings report is scheduled for 73 days from now.

What Analysts Are Saying About Carvana

Over the past month, 5 industry analysts have shared their insights on this stock, proposing an average target price of $152.0.

• An analyst from Morgan Stanley has decided to maintain their Underweight rating on Carvana, which currently sits at a price target of $110.
• An analyst from DA Davidson persists with their Neutral rating on Carvana, maintaining a target price of $155.
• Reflecting concerns, an analyst from Wedbush lowers its rating to Neutral with a new price target of $120.
• An analyst from Needham has decided to maintain their Buy rating on Carvana, which currently sits at a price target of $200.
• An analyst from Wells Fargo upgraded its action to Overweight with a price target of $175.

Options are a riskier asset compared to just trading the stock, but they have higher profit potential. Serious options traders manage this risk by educating themselves daily, scaling in and out of trades, following more than one indicator, and following the markets closely.