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 52 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 42% leaning bullish and 40% bearish. Among these notable options, 28 are puts, totaling $3,134,885, and 24 are calls, amounting to $1,525,797.
Predicted Price Range
Based on the trading activity, it appears that the significant investors are aiming for a price territory stretching from $35.0 to $75.0 for CVS Health over the recent three months.
Volume & Open Interest Development
Looking at the volume and open interest is an insightful way to conduct due diligence on a stock.
This data can help you track the liquidity and interest for CVS Health's options for a given strike price.
Below, we can observe the evolution of the volume and open interest of calls and puts, respectively, for all of CVS Health's whale activity within a strike price range from $35.0 to $75.0 in the last 30 days.
CVS Health Call and Put Volume: 30-Day Overview
Noteworthy Options Activity:
| Symbol | PUT/CALL | Trade Type | Sentiment | Exp. Date | Ask | Bid | Price | Strike Price | Total Trade Price | Open Interest | Volume |
|---|---|---|---|---|---|---|---|---|---|---|---|
| CVS | PUT | TRADE | BULLISH | 01/17/25 | $3.8 | $3.7 | $3.7 | $47.50 | $740.0K | 5.1K | 2.1K |
| CVS | PUT | SWEEP | BEARISH | 03/21/25 | $22.6 | $22.5 | $22.6 | $67.50 | $465.5K | 383 | 295 |
| CVS | PUT | SWEEP | BEARISH | 06/20/25 | $12.0 | $11.9 | $12.0 | $55.00 | $202.8K | 2.3K | 326 |
| CVS | PUT | SWEEP | BEARISH | 03/21/25 | $22.65 | $22.6 | $22.6 | $67.50 | $201.1K | 383 | 89 |
| CVS | PUT | SWEEP | NEUTRAL | 01/17/25 | $5.2 | $5.15 | $5.15 | $50.00 | $195.7K | 13.4K | 620 |
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.
Having examined the options trading patterns of CVS Health, our attention now turns directly to the company. This shift allows us to delve into its present market position and performance
Where Is CVS Health Standing Right Now?
- With a volume of 15,221,963, the price of CVS is down -4.48% at $44.51.
- RSI indicators hint that the underlying stock may be oversold.
- Next earnings are expected to be released in 50 days.
Expert Opinions on 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 $68.6.
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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 Deutsche Bank upgraded its action to Buy with a price target of $66. * In a positive move, an analyst from Wells Fargo has upgraded their rating to Overweight and adjusted the price target to $66. * An analyst from Truist Securities has revised its rating downward to Buy, adjusting the price target to $67. * Maintaining their stance, an analyst from Piper Sandler continues to hold a Overweight rating for CVS Health, targeting a price of $64. * An analyst from TD Cowen persists with their Buy rating on CVS Health, maintaining a target price of $80.
Trading options involves greater risks but also offers the potential for higher profits. Savvy traders mitigate these risks through ongoing education, strategic trade adjustments, utilizing various indicators, and staying attuned to market dynamics. Keep up with the latest options trades for CVS Health with Benzinga Pro for real-time alerts.
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
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