Option traders moderately bearish in Carvana with shares down 2.34%

Option traders moderately bearish in Carvana (CVNA), with shares down $8.70 near $362.38. Options volume relatively light with 20k contracts traded and puts leading calls for a put/call ratio of 1.79, compared to a typical level near 1.46. Implied volatility (IV30) is higher by 1.4 points near 83.75,in the top quartile of the past year, suggesting an expected daily move of $19.12. Put-call skew flattened, suggesting a modestly bullish tone.Looking ahead: Carvana (CVNA) will report earnings after the close on 2026-04-29.Option markets are pricing in a 50% probability of a move greater than 12.67% or $45.91.