What the Options Market Tells Us About CVS Health

Whales with a lot of money to spend have taken a noticeably bullish stance on CVS Health.

Looking at options history for CVS Health CVS we detected 12 trades.

If we consider the specifics of each trade, it is accurate to state that 66% of the investors opened trades with bullish expectations and 25% with bearish.

From the overall spotted trades, 2 are puts, for a total amount of $179,610 and 10, calls, for a total amount of $1,201,272.

Expected Price Movements

Taking into account the Volume and Open Interest on these contracts, it appears that whales have been targeting a price range from $60.0 to $70.0 for CVS Health over the last 3 months.

Volume & Open Interest Development

In terms of liquidity and interest, the mean open interest for CVS Health options trades today is 5602.57 with a total volume of 29,356.00.

In the following chart, we are able to follow the development of volume and open interest of call and put options for CVS Health's big money trades within a strike price range of $60.0 to $70.0 over the last 30 days.

CVS Health Option Volume And Open Interest Over Last 30 Days

Biggest Options Spotted:

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.

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

Where Is CVS Health Standing Right Now?

• Trading volume stands at 5,013,488, with CVS's price up by 1.35%, positioned at $66.86.
• RSI indicators show the stock to be may be overbought.
• Earnings announcement expected in 27 days.

What The Experts Say On CVS Health

5 market experts have recently issued ratings for this stock, with a consensus target price of $73.2.

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20-year pro options trader reveals his one-line chart technique that shows when to buy and sell. Copy his trades, which have had averaged a 27% profit every 20 days. Click here for access. * An analyst from Evercore ISI Group has decided to maintain their Outperform rating on CVS Health, which currently sits at a price target of $75. * An analyst from Cantor Fitzgerald has revised its rating downward to Neutral, adjusting the price target to $62. * In a positive move, an analyst from Barclays has upgraded their rating to Overweight and adjusted the price target to $82. * In a cautious move, an analyst from Cantor Fitzgerald downgraded its rating to Neutral, setting a price target of $62. * An analyst from TD Cowen upgraded its action to Buy with a price target of $85.

Options are a riskier asset compared to just trading the stock, but they have higher profit potential. Serious options traders manage this risk by educating themselves daily, scaling in and out of trades, following more than one indicator, and following the markets closely.

If you want to stay updated on the latest options trades for CVS Health, Benzinga Pro gives you real-time options trades alerts.