Deep-pocketed investors have adopted a bullish approach towards CVS Health CVS, and it's something market players shouldn't ignore. Our tracking of public options records at Benzinga unveiled this significant move today. The identity of these investors remains unknown, but such a substantial move in CVS usually suggests something big is about to happen.
We gleaned this information from our observations today when Benzinga's options scanner highlighted 9 extraordinary options activities for CVS Health. This level of activity is out of the ordinary.
The general mood among these heavyweight investors is divided, with 55% leaning bullish and 44% bearish. Among these notable options, 6 are puts, totaling $323,459, and 3 are calls, amounting to $149,731.
What's The Price Target?
After evaluating the trading volumes and Open Interest, it's evident that the major market movers are focusing on a price band between $37.5 and $65.0 for CVS Health, spanning the last three months.
Volume & Open Interest Development
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 $37.5 to $65.0 over the preceding 30 days.
CVS Health 30-Day Option Volume & Interest Snapshot
Biggest Options Spotted:
| Symbol | PUT/CALL | Trade Type | Sentiment | Exp. Date | Ask | Bid | Price | Strike Price | Total Trade Price | Open Interest | Volume |
|---|---|---|---|---|---|---|---|---|---|---|---|
| CVS | CALL | TRADE | BEARISH | 01/17/25 | $2.62 | $2.5 | $2.5 | $65.00 | $75.0K | 3.2K | 8 |
| CVS | PUT | SWEEP | BEARISH | 07/19/24 | $0.74 | $0.5 | $0.74 | $56.00 | $61.5K | 12 | 2.0K |
| CVS | PUT | TRADE | BULLISH | 07/19/24 | $0.82 | $0.72 | $0.73 | $56.00 | $60.8K | 12 | 167 |
| CVS | PUT | SWEEP | BEARISH | 12/18/26 | $4.2 | $2.54 | $2.8 | $40.00 | $60.3K | 456 | 0 |
| CVS | PUT | SWEEP | BEARISH | 08/16/24 | $2.73 | $2.69 | $2.7 | $57.50 | $54.0K | 4.2K | 32 |
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 us. CVS is also a large pharmacy benefit manager (acquired through Caremark), processing about 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.
Where Is CVS Health Standing Right Now?
- Trading volume stands at 3,119,134, with CVS's price down by -4.22%, positioned at $58.07.
- RSI indicators show the stock to be may be approaching overbought.
- Earnings announcement expected in 34 days.
What The Experts Say On CVS Health
A total of 3 professional analysts have given their take on this stock in the last 30 days, setting an average price target of $68.33333333333333.
- An analyst from JP Morgan has decided to maintain their Overweight rating on CVS Health, which currently sits at a price target of $86.
- An analyst from Baird has revised its rating downward to Neutral, adjusting the price target to $61.
- Reflecting concerns, an analyst from Cantor Fitzgerald lowers its rating to Neutral with a new price target of $58.
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.
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