Financial giants have made a conspicuous bullish move on CVS Health. Our analysis of options history for CVS Health CVS revealed 14 unusual trades.
Delving into the details, we found 50% of traders were bullish, while 50% showed bearish tendencies. Out of all the trades we spotted, 6 were puts, with a value of $289,872, and 8 were calls, valued at $979,675.
Expected Price Movements
Analyzing the Volume and Open Interest in these contracts, it seems that the big players have been eyeing a price window from $70.0 to $82.5 for CVS Health during the past quarter.
Volume & Open Interest Development
Looking at the volume and open interest is a powerful move while trading options. This data can help you track the liquidity and interest for CVS Health's options for a given strike price. Below, we can observe the evolution of the volume and open interest of calls and puts, respectively, for all of CVS Health's whale trades within a strike price range from $70.0 to $82.5 in the last 30 days.
CVS Health Option Volume And Open Interest Over Last 30 Days
Significant Options Trades Detected:
| Symbol | PUT/CALL | Trade Type | Sentiment | Exp. Date | Strike Price | Total Trade Price | Open Interest | Volume |
|---|---|---|---|---|---|---|---|---|
| CVS | CALL | SWEEP | BEARISH | 06/21/24 | $75.00 | $411.5K | 3.0K | 767 |
| CVS | CALL | SWEEP | BEARISH | 06/21/24 | $75.00 | $232.3K | 3.0K | 15 |
| CVS | CALL | SWEEP | BEARISH | 06/21/24 | $75.00 | $161.4K | 3.0K | 705 |
| CVS | PUT | SWEEP | BEARISH | 05/03/24 | $78.00 | $90.9K | 0 | 0 |
| CVS | PUT | SWEEP | BEARISH | 04/05/24 | $77.00 | $53.4K | 209 | 956 |
About CVS Health
CVS Health offers a diverse set of healthcare services. Its roots are in its retail pharmacy operations, where it operates over 9,000 stores primarily in the U.S. CVS is also the largest pharmacy benefit manager (acquired through Caremark), processing over 2 billion adjusted claims annually. It also operates a top-tier health insurer (acquired through Aetna) where it serves about 26 million medical members. The company's recent acquisition of Oak Street adds primary care services to the mix, which could have significant synergies with all its existing business lines.
Following our analysis of the options activities associated with CVS Health, we pivot to a closer look at the company's own performance.
Current Position of CVS Health
- Currently trading with a volume of 5,511,876, the CVS's price is up by 0.59%, now at $78.73.
- RSI readings suggest the stock is currently may be approaching overbought.
- Anticipated earnings release is in 40 days.
Expert Opinions on CVS Health
In the last month, 3 experts released ratings on this stock with an average target price of $86.66666666666667.
- In a cautious move, an analyst from Barclays downgraded its rating to Equal-Weight, setting a price target of $78.
- Consistent in their evaluation, an analyst from Piper Sandler keeps a Overweight rating on CVS Health with a target price of $94.
- An analyst from Leerink Partners has revised its rating downward to Outperform, adjusting the price target to $88.
Trading options involves greater risks but also offers the potential for higher profits. Savvy traders mitigate these risks through ongoing education, strategic trade adjustments, utilizing various indicators, and staying attuned to market dynamics. Keep up with the latest options trades for CVS Health with Benzinga Pro for real-time alerts.
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
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