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Caravan On A Monday Opening Rally

Let's start with the action on Carvana back at the start of the week. Here is it's mid afternoon chart. The stock is up $23.00 on the day!.
Now let's jump forward to Wednesday afternoon with tomorrow being a holiday. Carvana is up. How much? Well about $28.00 more dollars in the last three days.!
Word on the street is that their main competitor "Carmax" is in trouble. Here it how it has traded in the last thirty days. It had a bit of a dip but seems to be coming back.
Hertz in the last three months has also struggled.
So back now to Carvana. Buying Puts now that expire on Friday would be kind of dumb. Yet then again the stock could swing $20.00 or more in a few hours! Traders will be taking four day weekends starting after the close today (tommorow is Thanksgiving) so the volume of trading on Friday should be a tad on the light side. Now look at how cheap these Puts are at 2:20 p.m. Wednesday afternoon.
If your flush with money from other trades made this week this series of Puts might offer an interesting ride. An open interest of only five contracts tells us that there is no real interst in holding onto overnight positions. It's a double or triple win or a lose everything kind of proposition. It's Carvana. To be continued.

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