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Wajeeh Khan

Here Is Where Option Traders Expect Carvana Stock to Be When It Joins the S&P 500 Index

Carvana CVNA Michael McGovern BofA Bank of America Barchart

Carvana (CVNA) shares rallied nearly 12% on Monday following news that the online used car retailer will become a part of the benchmark S&P 500 Index ($SPX) on Dec. 22. 

Investors cheered CVNA today also because Michael McGovern, a senior Bank of America expert, said the upcoming index inclusion positions the stock to extend its rally in 2026. 

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