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 77% of the investors opened trades with bullish expectations and 22% with bearish.
From the overall spotted trades, 3 are puts, for a total amount of $1,112,967 and 15, calls, for a total amount of $1,589,450.
Expected Price Movements
Based on the trading activity, it appears that the significant investors are aiming for a price territory stretching from $50.0 to $75.0 for CVS Health over the recent three months.
Analyzing Volume & Open Interest
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 $50.0 to $75.0 in the last 30 days.
CVS Health Option Volume And Open Interest Over Last 30 Days
Significant Options Trades Detected:
| Symbol | PUT/CALL | Trade Type | Sentiment | Exp. Date | Strike Price | Total Trade Price | Open Interest | Volume |
|---|---|---|---|---|---|---|---|---|
| CVS | CALL | TRADE | BULLISH | 01/17/25 | $65.00 | $857.2K | 1.3K | 28 |
| CVS | PUT | TRADE | BEARISH | 01/19/24 | $70.00 | $834.2K | 6.4K | 10.5K |
| CVS | PUT | SWEEP | BULLISH | 01/19/24 | $70.00 | $208.6K | 6.4K | 556 |
| CVS | CALL | TRADE | BULLISH | 01/19/24 | $75.00 | $70.8K | 12.8K | 2.5K |
| CVS | PUT | SWEEP | BULLISH | 01/19/24 | $72.50 | $70.0K | 5.1K | 607 |
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.
Following our analysis of the options activities associated with CVS Health, we pivot to a closer look at the company's own performance.
CVS Health's Current Market Status
- With a volume of 11,754,917, the price of CVS is up 3.34% at $73.39.
- RSI indicators hint that the underlying stock may be approaching overbought.
- Next earnings are expected to be released in 63 days.
Expert Opinions on CVS Health
In the last month, 1 experts released ratings on this stock with an average target price of $87.0.
- In a cautious move, an analyst from Cantor Fitzgerald downgraded its rating to Overweight, setting a price target of $87.
Trading options involves greater risks but also offers the potential for higher profits. Savvy traders mitigate these risks through ongoing education, strategic trade adjustments, utilizing various indicators, and staying attuned to market dynamics. Keep up with the latest options trades for CVS Health with Benzinga Pro for real-time alerts.
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
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