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 18 trades.
If we consider the specifics of each trade, it is accurate to state that 50% of the investors opened trades with bullish expectations and 50% with bearish.
From the overall spotted trades, 4 are puts, for a total amount of $357,408 and 14, calls, for a total amount of $1,112,671.
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 $70.0 and $82.5 for CVS Health, spanning the last three months.
Volume & Open Interest Trends
Looking at the volume and open interest is an insightful way to conduct due diligence on a stock.
This data can help you track the liquidity and interest for CVS Health's options for a given strike price.
Below, we can observe the evolution of the volume and open interest of calls and puts, respectively, for all of CVS Health's whale activity within a strike price range from $70.0 to $82.5 in the last 30 days.
CVS Health Call and Put Volume: 30-Day Overview
Significant Options Trades Detected:
| Symbol | PUT/CALL | Trade Type | Sentiment | Exp. Date | Strike Price | Total Trade Price | Open Interest | Volume |
|---|---|---|---|---|---|---|---|---|
| CVS | CALL | SWEEP | BULLISH | 02/16/24 | $82.50 | $428.9K | 2.2K | 1.5K |
| CVS | PUT | SWEEP | BULLISH | 03/15/24 | $80.00 | $191.0K | 795 | 0 |
| CVS | CALL | SWEEP | BULLISH | 02/16/24 | $82.50 | $98.4K | 2.2K | 1.5K |
| CVS | PUT | SWEEP | BULLISH | 02/16/24 | $80.00 | $93.8K | 820 | 28 |
| CVS | CALL | SWEEP | BEARISH | 01/16/26 | $70.00 | $92.2K | 461 | 50 |
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
CVS Health's Current Market Status
- Trading volume stands at 3,004,708, with CVS's price up by 0.29%, positioned at $80.74.
- RSI indicators show the stock to be may be overbought.
- Earnings announcement expected in 33 days.
Professional Analyst Ratings for CVS Health
In the last month, 2 experts released ratings on this stock with an average target price of $96.5.
- An analyst from TD Cowen has decided to maintain their Outperform rating on CVS Health, which currently sits at a price target of $99.
- Reflecting concerns, an analyst from HSBC lowers its rating to Buy with a new price target of $94.
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.
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
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