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Financial giants have made a conspicuous bearish move on Elevance Health. Our analysis of options history for Elevance Health (NYSE:ELV) revealed 8 unusual trades.
Delving into the details, we found 12% of traders were bullish, while 87% showed bearish tendencies. Out of all the trades we spotted, 6 were puts, with a value of $365,806, and 2 were calls, valued at $245,525.
Analyzing the Volume and Open Interest in these contracts, it seems that the big players have been eyeing a price window from $500.0 to $670.0 for Elevance Health during the past quarter.
Examining the volume and open interest provides crucial insights into stock research. This information is key in gauging liquidity and interest levels for Elevance 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 Elevance Health's significant trades, within a strike price range of $500.0 to $670.0, over the past month.
Symbol | PUT/CALL | Trade Type | Sentiment | Exp. Date | Ask | Bid | Price | Strike Price | Total Trade Price | Open Interest | Volume |
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ELV | CALL | SWEEP | BEARISH | 09/20/24 | $8.5 | $7.5 | $7.64 | $530.00 | $218.2K | 72 | 2 |
ELV | PUT | TRADE | BEARISH | 07/19/24 | $169.3 | $164.1 | $169.3 | $670.00 | $84.6K | 0 | 5 |
ELV | PUT | TRADE | BEARISH | 07/19/24 | $158.1 | $153.0 | $158.1 | $660.00 | $79.0K | 0 | 5 |
ELV | PUT | TRADE | BEARISH | 08/16/24 | $33.7 | $27.3 | $33.69 | $530.00 | $70.7K | 83 | 0 |
ELV | PUT | TRADE | BEARISH | 03/21/25 | $30.0 | $26.0 | $30.0 | $500.00 | $60.0K | 0 | 0 |
Elevance Health remains one of the leading health insurers in the U.S., providing medical benefits to 47 million medical members as of December 2023. 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.
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.
5 market experts have recently issued ratings for this stock, with a consensus target price of $589.2.
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.
Posted In: ELV