Deep-pocketed investors have adopted a bearish 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 32 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 37% leaning bullish and 56% bearish. Among these notable options, 19 are puts, totaling $1,013,010, and 13 are calls, amounting to $1,746,486.
Expected Price Movements
After evaluating the trading volumes and Open Interest, it's evident that the major market movers are focusing on a price band between $45.0 and $65.0 for CVS Health, spanning the last three months.
Volume & Open Interest Trends
Examining the volume and open interest provides crucial insights into stock research. This information is key in gauging liquidity and interest levels for CVS Health's options at certain strike prices. Below, we present a snapshot of the trends in volume and open interest for calls and puts across CVS Health's significant trades, within a strike price range of $45.0 to $65.0, over the past month.
CVS Health Option Volume And Open Interest Over Last 30 Days
Noteworthy Options Activity:
| Symbol | PUT/CALL | Trade Type | Sentiment | Exp. Date | Ask | Bid | Price | Strike Price | Total Trade Price | Open Interest | Volume |
|---|---|---|---|---|---|---|---|---|---|---|---|
| CVS | CALL | SWEEP | BEARISH | 10/25/24 | $2.16 | $1.91 | $1.89 | $58.00 | $739.1K | 42 | 3.8K |
| CVS | CALL | SWEEP | BEARISH | 01/17/25 | $5.85 | $5.75 | $5.78 | $55.00 | $410.3K | 3.2K | 710 |
| CVS | PUT | SWEEP | BULLISH | 10/18/24 | $1.45 | $1.44 | $1.45 | $57.00 | $149.4K | 0 | 2.0K |
| CVS | CALL | SWEEP | BULLISH | 01/17/25 | $3.45 | $3.4 | $3.4 | $60.00 | $107.1K | 6.3K | 676 |
| CVS | CALL | SWEEP | BULLISH | 01/17/25 | $3.45 | $3.35 | $3.45 | $60.00 | $99.7K | 6.3K | 2.1K |
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 us. CVS is also a large pharmacy benefit manager (acquired through Caremark), processing about 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.
After a thorough review of the options trading surrounding CVS Health, we move to examine the company in more detail. This includes an assessment of its current market status and performance.
Current Position of CVS Health
- Currently trading with a volume of 2,906,387, the CVS's price is up by 0.51%, now at $57.8.
- RSI readings suggest the stock is currently may be approaching overbought.
- Anticipated earnings release is in 44 days.
Professional Analyst Ratings for CVS Health
A total of 3 professional analysts have given their take on this stock in the last 30 days, setting an average price target of $64.0.
Unusual Options Activity Detected: Smart Money on the Move
Benzinga Edge's Unusual Options board spots potential market movers before they happen. See what positions big money is taking on your favorite stocks. Click here for access. * An analyst from RBC Capital has revised its rating downward to Outperform, adjusting the price target to $68. * An analyst from Cantor Fitzgerald has revised its rating downward to Neutral, adjusting the price target to $62. * An analyst from Cantor Fitzgerald has revised its rating downward to Neutral, adjusting the price target to $62.
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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