Option traders moderately bearish in Carvana (CVNA), with shares down $5.17 near $339.07. Options volume roughly in line with average with 96k contracts traded and calls leading puts for a put/call ratio of 0.63, compared to a typical level near 0.72. Implied volatility (IV30) is higher by 1.5 points near 50.83,in the bottom quartile of the past year, suggesting an expected daily move of $10.86. Put-call skew steepened, indicating increased demand for downside protection.
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