Option traders moderately bearish in Carvana with shares down 2.8%

Option traders moderately bearish in Carvana (CVNA), with shares down $8.65 near $299.90. Options volume relatively light with 34k contracts traded and puts leading calls for a put/call ratio of 1.47, compared to a typical level near 1.53. Implied volatility (IV30) is higher by 1.5 points near 72.55,and above the 52wk median, suggesting an expected daily move of $13.71. Put-call skew flattened, suggesting a modestly bullish tone.