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 on Monday. The stock is up $23.00 on the day! When you see stocks move up like this you sometimes wonder why there isn't more profit taking at the end of the trading session. . 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 ...