Call Traders Scored a Quick Profit With Carvana Stock
CVNACarvana (CVNA) Schaeffers Research·2024-02-09 04:13

Subscribers to our new In-the-Money Countdown (ITMC) service scored a 102% profit in just two trading sessions with our Carvana Co (NYSE:CVNA) weekly 2/9 37.50-strike call. We recommended this contract on Sunday, Feb. 4, after the stock's Friday close of 43.45.Attheendoflastweek,thestockwasseeingsupportatitsconverging80and160daymovingaverages,aswellasits20weektrendline.Thepricewasalsonearapivotzoneat43.45. At the end of last week, the stock was seeing support at its converging 80- and 160-day moving averages, as well as its 20-week trendline. The price was also near a pivot zone at 38-$40, and had pulled back near its 61.8% Fibonacci retracement leve ...