High-rolling investors have positioned themselves bearish on CVS Health CVS, and it's important for retail traders to take note. \This activity came to our attention today through Benzinga's tracking of publicly available options data. The identities of these investors are uncertain, but such a significant move in CVS often signals that someone has privileged information.
Today, Benzinga's options scanner spotted 8 options trades for CVS Health. This is not a typical pattern.
The sentiment among these major traders is split, with 25% bullish and 75% bearish. Among all the options we identified, there was one put, amounting to $25,500, and 7 calls, totaling $322,142.
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 $70.0 and $100.0 for CVS Health, spanning the last three months.
Insights into Volume & Open Interest
In terms of liquidity and interest, the mean open interest for CVS Health options trades today is 2296.86 with a total volume of 1,685.00.
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 $70.0 to $100.0 over the last 30 days.
CVS Health 30-Day Option Volume & Interest Snapshot
Noteworthy Options Activity:
| Symbol | PUT/CALL | Trade Type | Sentiment | Exp. Date | Strike Price | Total Trade Price | Open Interest | Volume |
|---|---|---|---|---|---|---|---|---|
| CVS | CALL | TRADE | BEARISH | 01/16/26 | $70.00 | $57.6K | 473 | 15 |
| CVS | CALL | SWEEP | BULLISH | 02/16/24 | $72.50 | $55.6K | 2.9K | 18 |
| CVS | CALL | TRADE | NEUTRAL | 12/15/23 | $72.50 | $54.0K | 8.9K | 397 |
| CVS | CALL | SWEEP | NEUTRAL | 12/15/23 | $72.00 | $49.0K | 982 | 86 |
| CVS | CALL | SWEEP | BULLISH | 01/17/25 | $90.00 | $41.9K | 2.0K | 161 |
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.
In light of the recent options history for CVS Health, it's now appropriate to focus on the company itself. We aim to explore its current performance.
Present Market Standing of CVS Health
- Currently trading with a volume of 5,681,070, the CVS's price is down by -1.09%, now at $73.68.
- RSI readings suggest the stock is currently may be approaching overbought.
- Anticipated earnings release is in 54 days.
What The Experts Say On CVS Health
In the last month, 2 experts released ratings on this stock with an average target price of $93.0.
- In a cautious move, an analyst from Cantor Fitzgerald downgraded its rating to Overweight, setting a price target of $87.
- An analyst from TD Cowen has decided to maintain their Outperform rating on CVS Health, which currently sits at a price target of $99.
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.
Comments
Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.
