Investors with a lot of money to spend have taken a bullish stance on CVS Health CVS.
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 CVS, 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 8 uncommon options trades for CVS Health.
This isn't normal.
The overall sentiment of these big-money traders is split between 50% bullish and 50%, bearish.
Out of all of the special options we uncovered, 2 are puts, for a total amount of $234,253, and 6 are calls, for a total amount of $196,453.
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 $72.5 and $80.0 for CVS Health, spanning the last three months.
Insights into Volume & Open Interest
Examining the volume and open interest provides crucial insights into stock research. This information is key in gauging liquidity and interest levels for CVS Health's options at certain strike prices. Below, we present a snapshot of the trends in volume and open interest for calls and puts across CVS Health's significant trades, within a strike price range of $72.5 to $80.0, over the past month.
CVS Health 30-Day Option Volume & Interest Snapshot
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 | BEARISH | 05/17/24 | $2.02 | $1.96 | $1.96 | $72.50 | $174.2K | 2.1K | 1.2K |
| CVS | PUT | SWEEP | BEARISH | 05/17/24 | $1.96 | $1.91 | $1.96 | $72.50 | $60.0K | 2.1K | 393 |
| CVS | CALL | SWEEP | BULLISH | 01/17/25 | $6.65 | $6.55 | $6.65 | $75.00 | $39.9K | 3.7K | 127 |
| CVS | CALL | SWEEP | BULLISH | 06/20/25 | $6.9 | $6.65 | $6.9 | $77.50 | $37.9K | 83 | 55 |
| CVS | CALL | SWEEP | BULLISH | 05/17/24 | $2.15 | $2.11 | $2.14 | $75.00 | $35.0K | 5.1K | 652 |
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.
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.
Present Market Standing of CVS Health
- Trading volume stands at 4,083,111, with CVS's price up by 0.28%, positioned at $74.03.
- RSI indicators show the stock to be is currently neutral between overbought and oversold.
- Earnings announcement expected in 28 days.
Expert Opinions on CVS Health
A total of 2 professional analysts have given their take on this stock in the last 30 days, setting an average price target of $86.0.
- An analyst from Piper Sandler persists with their Overweight rating on CVS Health, maintaining a target price of $94.
- Reflecting concerns, an analyst from Barclays lowers its rating to Equal-Weight with a new price target of $78.
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 CVS Health options trades with real-time alerts from Benzinga Pro.
© 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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