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 12 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 58% leaning bullish and 41% bearish. Among these notable options, 9 are puts, totaling $712,718, and 3 are calls, amounting to $189,810.
Projected Price Targets
After evaluating the trading volumes and Open Interest, it's evident that the major market movers are focusing on a price band between $57.5 and $65.0 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 2514.78 with a total volume of 14,840.00.
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 $57.5 to $65.0 over the last 30 days.
CVS Health Option Activity Analysis: Last 30 Days
Noteworthy Options Activity:
| Symbol | PUT/CALL | Trade Type | Sentiment | Exp. Date | Ask | Bid | Price | Strike Price | Total Trade Price | Open Interest | Volume |
|---|---|---|---|---|---|---|---|---|---|---|---|
| CVS | PUT | SWEEP | BULLISH | 10/25/24 | $1.34 | $1.25 | $1.28 | $63.00 | $162.3K | 100 | 2.0K |
| CVS | PUT | SWEEP | BULLISH | 01/17/25 | $4.65 | $4.6 | $4.65 | $65.00 | $130.2K | 7.0K | 341 |
| CVS | PUT | SWEEP | BEARISH | 10/25/24 | $1.26 | $1.15 | $1.26 | $63.00 | $104.0K | 100 | 2.0K |
| CVS | CALL | SWEEP | BULLISH | 10/25/24 | $0.33 | $0.29 | $0.33 | $65.00 | $96.5K | 969 | 3.2K |
| CVS | PUT | SWEEP | BULLISH | 10/18/24 | $0.59 | $0.58 | $0.58 | $64.00 | $80.6K | 5.5K | 1.7K |
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.
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.
CVS Health's Current Market Status
- With a trading volume of 6,244,690, the price of CVS is down by -1.96%, reaching $63.74.
- Current RSI values indicate that the stock is may be approaching overbought.
- Next earnings report is scheduled for 20 days from now.
Professional Analyst Ratings for CVS Health
A total of 5 professional analysts have given their take on this stock in the last 30 days, setting an average price target of $76.0.
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20-year pro options trader reveals his one-line chart technique that shows when to buy and sell. Copy his trades, which have had averaged a 27% profit every 20 days. Click here for access. * An analyst from TD Cowen has elevated its stance to Buy, setting a new price target at $85. * An analyst from Evercore ISI Group persists with their Outperform rating on CVS Health, maintaining a target price of $75. * In a positive move, an analyst from Barclays has upgraded their rating to Overweight and adjusted the price target to $82. * In a cautious move, an analyst from Cantor Fitzgerald downgraded its rating to Neutral, setting a price target of $62. * Consistent in their evaluation, an analyst from Truist Securities keeps a Buy rating on CVS Health with a target price of $76.
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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