Bearish options flow identified in Carvana with shares down 2.15%

Bearish options flow identified in Carvana (CVNA), with shares down $6.27 near $284.90. Options volume roughly in line with average with 37k contracts traded and puts leading calls for a put/call ratio of 1.78, compared to a typical level near 1.35. Implied volatility (IV30) is higher by 2.2 points near 74.81,and above the 52wk median, suggesting an expected daily move of $13.43. Put-call skew steepened, indicating increased demand for downside protection.