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Home » Options traders gorge on Carvana as rally evokes meme frenzy

Options traders gorge on Carvana as rally evokes meme frenzy

Trading was halted this morning in New York

Bloomberg NewsbyBloomberg News
January 30, 2023
in Capital & Funding
Reading Time: 1 min read
0
A Carvana Vending Machine location in Novi, Michigan, U.S., on Wednesday, Nov. 3, 2021. Hertz Global Holdings Inc., fresh off a blockbuster order for 100,000 Teslas, reached an exclusive agreement to supply Uber drivers with electric vehicles and signed up Carvana Co. to dispose of rental cars it no longer wants.

Photographer: Emily Elconin/Bloomberg

Carvana Co. shares have doubled this year, and more head-scratching moves could be in store for the debt-strapped online used-car retailer amid bets the rally won’t last. Some 106,000 call contracts on Carvana changed hands as of 10:29 a.m. in New York Monday, above the average volume in the past 20 days, according to data […]

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