Financial giants have made a conspicuous bullish move on CVS Health. Our analysis of options history for CVS Health CVS revealed 8 unusual trades.
Delving into the details, we found 50% of traders were bullish, while 50% showed bearish tendencies. Out of all the trades we spotted, 3 were puts, with a value of $176,380, and 5 were calls, valued at $343,600.
Projected Price Targets
Analyzing the Volume and Open Interest in these contracts, it seems that the big players have been eyeing a price window from $35.0 to $100.0 for CVS Health during the past quarter.
Analyzing Volume & Open Interest
Assessing the volume and open interest is a strategic step in options trading. These metrics shed light on the liquidity and investor interest in CVS Health's options at specified strike prices. The forthcoming data visualizes the fluctuation in volume and open interest for both calls and puts, linked to CVS Health's substantial trades, within a strike price spectrum from $35.0 to $100.0 over the preceding 30 days.
CVS Health 30-Day Option Volume & Interest Snapshot
Biggest Options Spotted:
| Symbol | PUT/CALL | Trade Type | Sentiment | Exp. Date | Strike Price | Total Trade Price | Open Interest | Volume |
|---|---|---|---|---|---|---|---|---|
| CVS | CALL | TRADE | NEUTRAL | 01/17/25 | $35.00 | $219.2K | 139 | 0 |
| CVS | PUT | TRADE | BULLISH | 01/17/25 | $100.00 | $79.0K | 128 | 0 |
| CVS | PUT | SWEEP | BULLISH | 02/16/24 | $75.00 | $72.1K | 3.9K | 10 |
| CVS | CALL | SWEEP | BEARISH | 01/16/26 | $70.00 | $34.6K | 533 | 23 |
| CVS | CALL | SWEEP | BULLISH | 03/15/24 | $80.00 | $31.2K | 3.5K | 10 |
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.
Present Market Standing of CVS Health
- Currently trading with a volume of 1,986,124, the CVS's price is up by 0.23%, now at $78.8.
- RSI readings suggest the stock is currently may be overbought.
- Anticipated earnings release is in 47 days.
Professional Analyst Ratings for CVS Health
A total of 2 professional analysts have given their take on this stock in the last 30 days, setting an average price target of $96.5.
- An analyst from TD Cowen persists with their Outperform rating on CVS Health, maintaining a target price of $99.
- Reflecting concerns, an analyst from HSBC lowers its rating to Buy with a new price target of $94.
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.
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
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