Deep-pocketed investors have adopted a bearish 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 8 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 37% leaning bullish and 62% bearish. Among these notable options, 2 are puts, totaling $114,565, and 6 are calls, amounting to $823,368.
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 $35.0 and $76.0 for CVS Health, spanning the last three months.
Volume & Open Interest Trends
In terms of liquidity and interest, the mean open interest for CVS Health options trades today is 1202.75 with a total volume of 8,241.00.
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 $35.0 to $76.0 over the last 30 days.
CVS Health Call and Put Volume: 30-Day Overview
Significant Options Trades Detected:
| Symbol | PUT/CALL | Trade Type | Sentiment | Exp. Date | Strike Price | Total Trade Price | Open Interest | Volume |
|---|---|---|---|---|---|---|---|---|
| CVS | CALL | SWEEP | BEARISH | 05/17/24 | $67.50 | $318.4K | 1.7K | 301 |
| CVS | CALL | SWEEP | BEARISH | 05/17/24 | $67.50 | $206.0K | 1.7K | 501 |
| CVS | CALL | SWEEP | BEARISH | 06/21/24 | $70.00 | $142.8K | 2.1K | 172 |
| CVS | CALL | SWEEP | BEARISH | 06/21/24 | $70.00 | $79.6K | 2.1K | 313 |
| CVS | PUT | SWEEP | BULLISH | 02/16/24 | $76.00 | $59.1K | 951 | 2.8K |
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.
Current Position of CVS Health
- Currently trading with a volume of 4,832,499, the CVS's price is down by -0.89%, now at $76.6.
- RSI readings suggest the stock is currently is currently neutral between overbought and oversold.
- Anticipated earnings release is in 78 days.
Professional Analyst Ratings for CVS Health
In the last month, 2 experts released ratings on this stock with an average target price of $85.5.
- An analyst from RBC Capital persists with their Outperform rating on CVS Health, maintaining a target price of $84.
- Reflecting concerns, an analyst from Cantor Fitzgerald lowers its rating to Overweight with a new price target of $87.
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.
Date of Trade | ticker | Put/Call | Strike Price | DTE | Sentiment |
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