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A Closer Look at CVS Health's Options Market Dynamics

Author: Benzinga Insights | July 24, 2024 03:46pm

Financial giants have made a conspicuous bullish move on CVS Health. Our analysis of options history for CVS Health (NYSE:CVS) revealed 10 unusual trades.

Delving into the details, we found 50% of traders were bullish, while 40% showed bearish tendencies. Out of all the trades we spotted, 3 were puts, with a value of $374,736, and 7 were calls, valued at $388,184.

Expected Price Movements

Taking into account the Volume and Open Interest on these contracts, it appears that whales have been targeting a price range from $53.0 to $77.5 for CVS Health over the last 3 months.

Analyzing Volume & Open Interest

Assessing the volume and open interest is a strategic step in options trading. These metrics shed light on the liquidity and investor interest in CVS 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 CVS Health's substantial trades, within a strike price spectrum from $53.0 to $77.5 over the preceding 30 days.

CVS Health Call and Put Volume: 30-Day Overview

Options Call Chart

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 NEUTRAL 08/09/24 $2.17 $2.12 $2.17 $58.00 $216.7K 150 1.0K
CVS PUT SWEEP BEARISH 08/09/24 $2.17 $2.11 $2.17 $58.00 $131.5K 150 1.6K
CVS CALL SWEEP BULLISH 06/20/25 $6.15 $5.95 $6.15 $60.00 $98.4K 1.3K 162
CVS CALL SWEEP BEARISH 12/18/26 $6.6 $6.3 $6.3 $70.00 $94.5K 422 150
CVS CALL SWEEP BULLISH 01/16/26 $3.05 $2.7 $3.05 $77.50 $54.9K 293 182

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 us. CVS is also a large pharmacy benefit manager (acquired through Caremark), processing about 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.

Following our analysis of the options activities associated with CVS Health, we pivot to a closer look at the company's own performance.

Where Is CVS Health Standing Right Now?

  • Trading volume stands at 4,544,967, with CVS's price up by 0.85%, positioned at $58.46.
  • RSI indicators show the stock to be is currently neutral between overbought and oversold.
  • Earnings announcement expected in 14 days.

What Analysts Are Saying About CVS Health

1 market experts have recently issued ratings for this stock, with a consensus target price of $58.0.

  • An analyst from Cantor Fitzgerald has revised its rating downward to Neutral, adjusting the price target to $58.

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.

Posted In: CVS

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