Looking At CVS Health's Recent Unusual Options Activity

Investors with a lot of money to spend have taken a bullish 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 10 uncommon options trades for CVS Health.

This isn't normal.

The overall sentiment of these big-money traders is split between 50% bullish and 40%, bearish.

Out of all of the special options we uncovered, 4 are puts, for a total amount of $243,252, and 6 are calls, for a total amount of $485,932.

Predicted Price Range

After evaluating the trading volumes and Open Interest, it's evident that the major market movers are focusing on a price band between $50.0 and $70.0 for CVS Health, spanning the last three months.

Analyzing Volume & Open Interest

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 $50.0 to $70.0, over the past month.

CVS Health Call and Put Volume: 30-Day Overview

Largest Options Trades Observed:

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.

Current Position of CVS Health

• With a volume of 4,111,017, the price of CVS is down -0.47% at $64.18.
• RSI indicators hint that the underlying stock may be approaching overbought.
• Next earnings are expected to be released in 61 days.

What The Experts Say On CVS Health

Over the past month, 5 industry analysts have shared their insights on this stock, proposing an average target price of $75.6.

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 Truist Securities has decided to maintain their Buy rating on CVS Health, which currently sits at a price target of $76. * An analyst from Barclays persists with their Overweight rating on CVS Health, maintaining a target price of $73. * Maintaining their stance, an analyst from JP Morgan continues to hold a Overweight rating for CVS Health, targeting a price of $81. * An analyst from Wells Fargo has decided to maintain their Overweight rating on CVS Health, which currently sits at a price target of $73. * Showing optimism, an analyst from Leerink Partners upgrades its rating to Outperform with a revised price target of $75.

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.