Mixed options sentiment in Carvana with shares up 3.79%

Mixed options sentiment in Carvana (CVNA), with shares up $12.38, or 3.79%, near $339.31. Options volume running well above average with 34k contracts traded and puts leading calls for a put/call ratio of 1.55, compared to a typical level near 1.55. Implied volatility (IV30) dropped 1.49 near 82.78,in the top quartile of the past year, suggesting an expected daily move of $17.69. Put-call skew steepened, indicating increased demand for downside protection, following a downgrade to Neutral at BofA.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.