Investors with a lot of money to spend have taken a bearish stance on CVS Health CVS.
And retail traders should know.
We noticed this today when the trades showed up on publicly available options history that we track here at Benzinga.
Whether these are institutions or just wealthy individuals, we don't know. But when something this big happens with CVS, it often means somebody knows something is about to happen.
So how do we know what these investors just did?
Today, Benzinga's options scanner spotted 13 uncommon options trades for CVS Health.
This isn't normal.
The overall sentiment of these big-money traders is split between 38% bullish and 61%, bearish.
Out of all of the special options we uncovered, 7 are puts, for a total amount of $668,128, and 6 are calls, for a total amount of $310,421.
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 $80.0 for CVS Health over the recent three months.
Analyzing Volume & Open Interest
In terms of liquidity and interest, the mean open interest for CVS Health options trades today is 1767.3 with a total volume of 21,448.00.
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 $50.0 to $80.0 over the last 30 days.
CVS Health Call and Put Volume: 30-Day Overview
Noteworthy Options Activity:
| Symbol | PUT/CALL | Trade Type | Sentiment | Exp. Date | Ask | Bid | Price | Strike Price | Total Trade Price | Open Interest | Volume |
|---|---|---|---|---|---|---|---|---|---|---|---|
| CVS | PUT | SWEEP | BEARISH | 11/22/24 | $1.27 | $1.1 | $1.1 | $56.00 | $219.5K | 594 | 2.0K |
| CVS | PUT | SWEEP | BULLISH | 11/22/24 | $1.25 | $1.1 | $1.1 | $56.00 | $141.0K | 594 | 3.3K |
| CVS | PUT | SWEEP | BULLISH | 12/20/24 | $1.0 | $0.98 | $0.99 | $54.00 | $106.4K | 57 | 1.1K |
| CVS | CALL | SWEEP | BULLISH | 11/29/24 | $0.95 | $0.94 | $0.95 | $56.00 | $86.6K | 527 | 919 |
| CVS | CALL | SWEEP | BEARISH | 01/17/25 | $1.35 | $1.32 | $1.32 | $60.00 | $72.8K | 10.4K | 960 |
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.
CVS Health's Current Market Status
- With a trading volume of 6,498,681, the price of CVS is down by -0.72%, reaching $55.65.
- Current RSI values indicate that the stock is is currently neutral between overbought and oversold.
- Next earnings report is scheduled for 78 days from now.
Expert Opinions on CVS Health
In the last month, 5 experts released ratings on this stock with an average target price of $65.0.
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 Mizuho has decided to maintain their Outperform rating on CVS Health, which currently sits at a price target of $66. * Maintaining their stance, an analyst from Wells Fargo continues to hold a Equal-Weight rating for CVS Health, targeting a price of $60. * An analyst from UBS persists with their Neutral rating on CVS Health, maintaining a target price of $62. * An analyst from Barclays persists with their Overweight rating on CVS Health, maintaining a target price of $71. * In a positive move, an analyst from Wells Fargo has upgraded their rating to Overweight and adjusted the price target to $66.
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.
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
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