A whale with a lot of money to spend has taken a noticeably bearish stance on CVS Health.
Looking at options history for CVS Health CVS we detected 11 strange trades.
If we consider the specifics of each trade, it is accurate to state that 45% of the investors opened trades with bullish expectations and 54% with bearish.
From the overall spotted trades, 2 are puts, for a total amount of $70,691 and 9, calls, for a total amount of $305,665.
What's The Price Target?
Taking into account the Volume and Open Interest on these contracts, it appears that whales have been targeting a price range from $70.0 to $77.5 for CVS Health over the last 3 months.
Volume & Open Interest Development
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 $77.5 in the last 30 days.
CVS Health Option Volume And Open Interest Over Last 30 Days
Biggest Options Spotted:
| Symbol | PUT/CALL | Trade Type | Sentiment | Exp. Date | Strike Price | Total Trade Price | Open Interest | Volume |
|---|---|---|---|---|---|---|---|---|
| CVS | CALL | TRADE | NEUTRAL | 09/15/23 | $75.00 | $67.0K | 3.1K | 230 |
| CVS | PUT | SWEEP | BULLISH | 09/15/23 | $77.50 | $36.2K | 549 | 135 |
| CVS | CALL | SWEEP | BEARISH | 01/19/24 | $70.00 | $36.2K | 2.1K | 49 |
| CVS | PUT | SWEEP | BEARISH | 01/19/24 | $72.50 | $34.4K | 4.3K | 646 |
| CVS | CALL | SWEEP | BEARISH | 09/15/23 | $77.50 | $34.3K | 3.2K | 430 |
Where Is CVS Health Standing Right Now?
- With a volume of 5,302,071, the price of CVS is down -0.25% at $75.47.
- RSI indicators hint that the underlying stock may be overbought.
- Next earnings are expected to be released in 7 days.
What The Experts Say On CVS Health:
- Mizuho has decided to maintain their Buy rating on CVS Health, which currently sits at a price target of $88.
- JP Morgan has decided to maintain their Overweight rating on CVS Health, which currently sits at a price target of $106.
- Barclays has decided to maintain their Overweight rating on CVS Health, which currently sits at a price target of $89.
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.
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