Carvana Surges 2.73% on Options-Driven Rally, Trading Volume Hits 168th Rank

On August 28, 2025, Carvana (CVNA) rose 2.73% with a trading volume of $0.56 billion, ranking 168th in market activity. The stock’s intraday movement reflected a technical rebound amid divergent sector performance.

The rally was fueled by short-term bullish technical patterns and heightened options trading. A MACD crossover above the signal line and a K-line reversal signaled momentum, while call options with strike prices between $375 and $397.5 saw heavy turnover. The $375 call option (CVNA20250905C375) traded 350,749 contracts, indicating aggressive positioning for a potential breakout above key resistance levels.

Despite the broader auto dealership sector showing mixed momentum, Carvana’s gains remained stock-specific. Sector leader Autonation (AN) declined 0.49% intraday, underscoring CVNA’s independence from macroeconomic factors typically influencing dealership stocks. The stock’s price action remained above its 200-day moving average ($267.80) and 30-day moving average ($349.6), with RSI at 54.76 and Bollinger Bands indicating overbought positioning.

Options data highlighted high leverage ratios and liquidity in the $375 and $385 call options. The $375 call, with a delta of 0.529 and gamma of 0.01587, offered amplified exposure to price swings, while the $385 call balanced liquidity and leverage. Traders focused on a decisive close above $377.36 to validate the bullish case, with the 52-week high at $413.34 remaining a critical target.

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