Carvana call volume above normal and directionally bullish

Bullish option flow detected in Carvana with 59,972 calls trading, 1.3x expected, and implied vol increasing almost 8 points to 171.28%. Jul-23 40 calls and Jul-23 45 calls are the most active options, with total volume in those strikes near 17,300 contracts. The Put/Call Ratio is 0.50. Earnings are expected on August 3rd.