Decoding Elevance Health's Options Activity: What's the Big Picture?

Investors with significant funds have taken a bearish position in Elevance Health ELV, a development that retail traders should be aware of.

This was brought to our attention today through our monitoring of publicly accessible options data at Benzinga. The exact nature of these investors remains a mystery, but such a major move in ELV usually indicates foreknowledge of upcoming events.

Today, Benzinga's options scanner identified 10 options transactions for Elevance Health. This is an unusual occurrence. The sentiment among these large-scale traders is mixed, with 10% being bullish and 60% bearish. Of all the options we discovered, 9 are puts, valued at $1,462,240, and there was a single call, worth $25,080.

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Expected Price Movements

After evaluating the trading volumes and Open Interest, it's evident that the major market movers are focusing on a price band between $320.0 and $400.0 for Elevance 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 Elevance 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 Elevance Health's substantial trades, within a strike price spectrum from $320.0 to $400.0 over the preceding 30 days.

Elevance Health Option Volume And Open Interest Over Last 30 Days

Biggest Options Spotted:

About Elevance Health

Elevance Health remains one of the leading health insurers in the US, providing medical benefits to 46 million medical members as of December 2024. The company offers employer, individual, and government-sponsored coverage plans. Elevance differs from its peers in its unique position as the largest single provider of Blue Cross Blue Shield branded coverage, operating as the licensee for the Blue Cross Blue Shield Association in 14 states. Through acquisitions, such as the Amerigroup deal in 2012 and MMM in 2021, Elevance's reach expands beyond those states through government-sponsored programs, such as Medicaid and Medicare Advantage plans, too. It is also an emerging player in pharmacy benefit management and other healthcare services.

In light of the recent options history for Elevance Health, it's now appropriate to focus on the company itself. We aim to explore its current performance.

Current Position of Elevance Health

• Trading volume stands at 325,891, with ELV's price down by -3.54%, positioned at $361.05.
• RSI indicators show the stock to be may be oversold.
• Earnings announcement expected in 62 days.

Professional Analyst Ratings for Elevance Health

4 market experts have recently issued ratings for this stock, with a consensus target price of $500.75.

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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. * Reflecting concerns, an analyst from RBC Capital lowers its rating to Outperform with a new price target of $478. * Maintaining their stance, an analyst from Barclays continues to hold a Overweight rating for Elevance Health, targeting a price of $522. * In a cautious move, an analyst from Cantor Fitzgerald downgraded its rating to Overweight, setting a price target of $485. * An analyst from Guggenheim downgraded its action to Buy with a price target of $518.

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 Elevance Health options trades with real-time alerts from Benzinga Pro.