- Carvana is an online car sales platform that buys, sells and trades cars. You can purchase cars online and have them delivered to your house just days later; no negotiating with car salesman.
- CVNA has also been profiting from the recent inflated used car prices due to chip shortage and high demand for vehicles.
- Unusual Options have been detected on this name in the form of what looks to be SOLD TO OPEN IN THE MONEY PUTS. There is well over 100k in ITM sold puts for September 17tn and 24th with a strike price of $360 and $375.
- Bullish traders would want to sell credit put spreads on this name in order to take advantage of theta decay or long options for October with a 5-8% OTM strike price.
OptionsSwing Analyst
Daniel Betancourt