Moderately bullish activity in Carvana (CVNA), with shares up $3.10, or 0.9%, near $348.21. Options volume relatively light with 25k contracts traded and calls leading puts for a put/call ratio of 0.51, compared to a typical level near 0.84. Implied volatility (IV30) is higher by 0.4 points near 48.28,in the bottom quartile of the past year, suggesting an expected daily move of $10.59. Put-call skew steepened, indicating increased demand for downside protection.
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