Whales with a lot of money to spend have taken a noticeably bearish stance on CVS Health.
Looking at options history for CVS Health CVS we detected 40 trades.
If we consider the specifics of each trade, it is accurate to state that 32% of the investors opened trades with bullish expectations and 67% with bearish.
From the overall spotted trades, 6 are puts, for a total amount of $249,287 and 34, calls, for a total amount of $6,936,488.
Expected Price Movements
Taking into account the Volume and Open Interest on these contracts, it appears that whales have been targeting a price range from $45.0 to $85.0 for CVS Health over the last 3 months.
Volume & Open Interest Trends
Examining the volume and open interest provides crucial insights into stock research. This information is key in gauging liquidity and interest levels for CVS Health's options at certain strike prices. Below, we present a snapshot of the trends in volume and open interest for calls and puts across CVS Health's significant trades, within a strike price range of $45.0 to $85.0, over the past month.
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 | 01/19/24 | $70.00 | $638.4K | 5.5K | 18.8K |
| CVS | CALL | TRADE | NEUTRAL | 01/19/24 | $70.00 | $638.4K | 5.5K | 15.5K |
| CVS | CALL | TRADE | NEUTRAL | 01/19/24 | $70.00 | $638.4K | 5.5K | 12.1K |
| CVS | CALL | TRADE | NEUTRAL | 01/19/24 | $70.00 | $638.4K | 5.5K | 8.7K |
| CVS | CALL | TRADE | NEUTRAL | 01/19/24 | $70.00 | $638.4K | 5.5K | 5.4K |
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.
After a thorough review of the options trading surrounding CVS Health, we move to examine the company in more detail. This includes an assessment of its current market status and performance.
CVS Health's Current Market Status
- With a trading volume of 10,899,975, the price of CVS is down by -4.9%, reaching $73.22.
- Current RSI values indicate that the stock is is currently neutral between overbought and oversold.
- Next earnings report is scheduled for 20 days from now.
Expert Opinions on CVS Health
Over the past month, 1 industry analysts have shared their insights on this stock, proposing an average target price of $94.0.
- An analyst from HSBC has revised its rating downward to Buy, adjusting the price target to $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.
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