Prior to the auto dealer's earnings report, Rick Ducat checks out the chart of Carvana (CVNA). He says $390 is an area to watch to the upside after share prices have fallen nearly 30% from all-time highs reached in late January. Rick underlines the significant technical indicator in its 251-day exponential moving average as something to monitor for support. Later, Rick composes an example options trade using a call butterfly strategy with a bullish tilt.