Investors with a lot of money to spend have taken a bullish stance on Elevance Health ELV.
And retail traders should know.
We noticed this today when the trades showed up on publicly available options history that we track here at Benzinga.
Whether these are institutions or just wealthy individuals, we don't know. But when something this big happens with ELV, it often means somebody knows something is about to happen.
So how do we know what these investors just did?
Today, Benzinga's options scanner spotted 9 uncommon options trades for Elevance Health.
This isn't normal.
The overall sentiment of these big-money traders is split between 44% bullish and 11%, bearish.
Out of all of the special options we uncovered, 5 are puts, for a total amount of $185,490, and 4 are calls, for a total amount of $203,140.
Predicted Price Range
Analyzing the Volume and Open Interest in these contracts, it seems that the big players have been eyeing a price window from $200.0 to $570.0 for Elevance Health during the past quarter.
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 $200.0 to $570.0 over the preceding 30 days.
Elevance Health 30-Day Option Volume & Interest Snapshot
Significant Options Trades Detected:
| Symbol | PUT/CALL | Trade Type | Sentiment | Exp. Date | Ask | Bid | Price | Strike Price | Total Trade Price | Open Interest | Volume |
|---|---|---|---|---|---|---|---|---|---|---|---|
| ELV | CALL | SWEEP | BULLISH | 12/19/25 | $11.4 | $11.3 | $11.4 | $320.00 | $110.5K | 261 | 0 |
| ELV | PUT | TRADE | NEUTRAL | 09/18/26 | $239.0 | $229.0 | $233.75 | $510.00 | $46.7K | 0 | 0 |
| ELV | PUT | TRADE | NEUTRAL | 03/20/26 | $215.4 | $208.3 | $212.5 | $490.00 | $42.5K | 0 | 2 |
| ELV | PUT | TRADE | NEUTRAL | 03/20/26 | $185.5 | $177.6 | $182.0 | $460.00 | $36.4K | 0 | 2 |
| ELV | CALL | SWEEP | BULLISH | 01/15/27 | $3.7 | $2.95 | $3.7 | $570.00 | $33.6K | 512 | 101 |
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 June 2025. 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.
Present Market Standing of Elevance Health
- Currently trading with a volume of 1,761,521, the ELV's price is up by 0.03%, now at $276.5.
- RSI readings suggest the stock is currently is currently neutral between overbought and oversold.
- Anticipated earnings release is in 71 days.
Expert Opinions on Elevance 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 $362.6.
Unusual Options Activity Detected: Smart Money on the Move
Benzinga Edge's Unusual Options board spots potential market movers before they happen. See what positions big money is taking on your favorite stocks. Click here for access. * An analyst from JP Morgan persists with their Overweight rating on Elevance Health, maintaining a target price of $384. * An analyst from Barclays persists with their Overweight rating on Elevance Health, maintaining a target price of $358. * An analyst from Leerink Partners has revised its rating downward to Market Perform, adjusting the price target to $310. * Maintaining their stance, an analyst from Barclays continues to hold a Overweight rating for Elevance Health, targeting a price of $327. * Consistent in their evaluation, an analyst from Barclays keeps a Overweight rating on Elevance Health with a target price of $434.
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 Elevance Health, Benzinga Pro gives you real-time options trades alerts.
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