Carvana put volume heavy and directionally bearish
The Fly

Carvana put volume heavy and directionally bearish

Bearish flow noted in Carvana with 11,753 puts trading, or 1.2x expected. Most active are 9/13 weekly 150 calls and Sep-24 120 puts, with total volume in those strikes near 2,500 contracts. The Put/Call Ratio is 1.72, while ATM IV is up over 2 points on the day. Earnings are expected on October 31st.

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