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Carvana Options Traders Are Betting The Stock Will Rally By This Much In The Coming Week

Published 13/01/2023, 13:53
© Reuters.  Carvana Options Traders Are Betting The Stock Will Rally By This Much In The Coming Week
CVNA
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Benzinga - Carvana Co. (NYSE: CVNA) shares traded higher Thursday amid volatility in high short interest stocks.

On CNBC’s "Options Action," Mike Khouw of Optimize Advisors said Carvana was the eighth-busiest single stock option on Thursday, with calls outpacing puts by more than 2 to 1.

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There was a buyer of 4,500 of the January 8/10-calls spreads at an average price of 46 cents per contract, Khouw mentioned.

The trader expects Carvana’s stock to surge by as much as 25% by next Friday.

CVNA Price Action: Shares of Carvana jumped 46% to close at $8.03 on Thursday, and lost 1% in the after-hours trading session.

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Photo via Shutterstock.

© 2023 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.

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