Deep-pocketed investors have adopted a bullish approach towards CVS Health CVS, and it's something market players shouldn't ignore. Our tracking of public options records at Benzinga unveiled this significant move today. The identity of these investors remains unknown, but such a substantial move in CVS usually suggests something big is about to happen.
We gleaned this information from our observations today when Benzinga's options scanner highlighted 12 extraordinary options activities for CVS Health. This level of activity is out of the ordinary.
The general mood among these heavyweight investors is divided, with 66% leaning bullish and 33% bearish. Among these notable options, 5 are puts, totaling $423,600, and 7 are calls, amounting to $266,245.
Predicted Price Range
Based on the trading activity, it appears that the significant investors are aiming for a price territory stretching from $50.0 to $72.0 for CVS Health over the recent three months.
Volume & Open Interest Development
Assessing the volume and open interest is a strategic step in options trading. These metrics shed light on the liquidity and investor interest in CVS Health's options at specified strike prices. The forthcoming data visualizes the fluctuation in volume and open interest for both calls and puts, linked to CVS Health's substantial trades, within a strike price spectrum from $50.0 to $72.0 over the preceding 30 days.
CVS Health 30-Day Option Volume & Interest Snapshot
Biggest Options Spotted:
| Symbol | PUT/CALL | Trade Type | Sentiment | Exp. Date | Ask | Bid | Price | Strike Price | Total Trade Price | Open Interest | Volume |
|---|---|---|---|---|---|---|---|---|---|---|---|
| CVS | PUT | TRADE | BEARISH | 01/17/25 | $3.3 | $3.2 | $3.28 | $62.50 | $164.0K | 3.6K | 500 |
| CVS | PUT | TRADE | BULLISH | 01/16/26 | $2.61 | $2.37 | $2.45 | $50.00 | $122.5K | 87 | 500 |
| CVS | CALL | SWEEP | BULLISH | 05/17/24 | $1.21 | $1.12 | $1.19 | $69.00 | $88.5K | 406 | 151 |
| CVS | PUT | SWEEP | BEARISH | 11/15/24 | $2.77 | $2.69 | $2.77 | $62.50 | $70.9K | 504 | 256 |
| CVS | PUT | SWEEP | BULLISH | 05/03/24 | $0.78 | $0.76 | $0.76 | $66.00 | $39.3K | 6.5K | 624 |
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.
Having examined the options trading patterns of CVS Health, our attention now turns directly to the company. This shift allows us to delve into its present market position and performance
Present Market Standing of CVS Health
- With a volume of 2,273,812, the price of CVS is down -0.67% at $67.0.
- RSI indicators hint that the underlying stock may be oversold.
- Next earnings are expected to be released in 1 days.
What Analysts Are Saying About CVS Health
Over the past month, 3 industry analysts have shared their insights on this stock, proposing an average target price of $83.33333333333333.
- An analyst from Wells Fargo persists with their Equal-Weight rating on CVS Health, maintaining a target price of $76.
- In a cautious move, an analyst from Cantor Fitzgerald downgraded its rating to Overweight, setting a price target of $87.
- An analyst from Cantor Fitzgerald has revised its rating downward to Overweight, adjusting the price target to $87.
Options trading presents higher risks and potential rewards. Astute traders manage these risks by continually educating themselves, adapting their strategies, monitoring multiple indicators, and keeping a close eye on market movements. Stay informed about the latest CVS Health options trades with real-time alerts from Benzinga Pro.
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