Option traders moderately bearish in Carvana with shares down 0.43%
Option traders moderately bearish in Carvana (CVNA), with shares down 29c near $66.83. Options volume relatively light with 15k contracts traded and calls leading puts for a put/call ratio of 0.42, compared to a typical level near 1.06. Implied volatility (IV30) is higher by 0.9 points near 87.37, in the highest 10% of observations over the past year, suggesting an expected daily move of $3.68. Put-call skew steepened, indicating increased demand for downside protection.Looking ahead: Carvana (CVNA) will report earnings after the close on None.Option markets are pricing in a 50% probability of a move greater than 0.0% or $0.00.
Option traders moderately bearish in Carvana (CVNA), with shares down 29c near $66.83.
Options volume relatively light with 15k contracts traded and calls leading puts for a put/call ratio of 0.42, compared to a typical level near 1.06.
Implied volatility (IV30) is higher by 0.9 points near 87.37, in the highest 10% of observations over the past year, suggesting an expected daily move of $3.68.
Put-call skew steepened, indicating increased demand for downside protection.Looking ahead: Carvana (CVNA) will report earnings after the close on None.Option markets are pricing in a 50% probability of a move greater than 0.0% or $0.00.