Bearish options flow identified in Carvana with shares down 1.47%

Bearish options flow identified in Carvana (CVNA), with shares down $5.62 near $376.98. Options volume roughly in line with average with 84k contracts traded and puts leading calls for a put/call ratio of 1.41, compared to a typical level near 1.26. Implied volatility (IV30) is higher by 2.5 points near 62.77,and below the 52wk median, suggesting an expected daily move of $14.91. Put-call skew steepened, indicating increased demand for downside protection.