Get all your news in one place.
100’s of premium titles.
One app.
Start reading
Benzinga
Benzinga
Business
Benzinga Insights

Check Out What Whales Are Doing With CVS

Someone with a lot of money to spend has taken a bearish stance on CVS Health (NYSE:CVS).

And retail traders should know.

We noticed this today when the big position showed up on publicly available options history that we track here at Benzinga.

Whether this is an institution or just a wealthy individual, 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 this whale just did?

Today, Benzinga's options scanner spotted 18 uncommon options trades for CVS Health.

This isn't normal.

The overall sentiment of these big-money traders is split between 22% bullish and 77%, bearish.

Out of all of the special options we uncovered, 13 are puts, for a total amount of $817,255, and 5 are calls, for a total amount of $348,848.

What's The Price Target?

Taking into account the Volume and Open Interest on these contracts, it appears that whales have been targeting a price range from $75.0 to $97.5 for CVS Health over the last 3 months.

Volume & Open Interest Development

In terms of liquidity and interest, the mean open interest for CVS Health options trades today is 1538.78 with a total volume of 4,413.00.

In the following chart, we are able to follow the development of volume and open interest of call and put options for CVS Health's big money trades within a strike price range of $75.0 to $97.5 over the last 30 days.

CVS Health Option Volume And Open Interest Over Last 30 Days

Biggest Options Spotted:

Symbol PUT/CALL Trade Type Sentiment Exp. Date Strike Price Total Trade Price Open Interest Volume
CVS PUT SWEEP BEARISH 06/16/23 $75.00 $137.6K 925 936
CVS PUT SWEEP BEARISH 02/17/23 $92.50 $127.0K 85 352
CVS CALL TRADE BULLISH 01/20/23 $82.50 $105.4K 962 71
CVS PUT SWEEP BEARISH 02/17/23 $92.50 $78.4K 85 109
CVS CALL TRADE BEARISH 01/20/23 $97.50 $73.6K 1.8K 258

Where Is CVS Health Standing Right Now?

  • With a volume of 2,701,272, the price of CVS is down -1.36% at $93.69.
  • RSI indicators hint that the underlying stock may be approaching overbought.
  • Next earnings are expected to be released in 21 days.

What The Experts Say On CVS Health:

  • Loop Capital downgraded its action to Buy with a price target of $120

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 CVS Health, Benzinga Pro gives you real-time options trades alerts.

Sign up to read this article
Read news from 100’s of titles, curated specifically for you.
Already a member? Sign in here
Related Stories
Top stories on inkl right now
One subscription that gives you access to news from hundreds of sites
Already a member? Sign in here
Our Picks
Fourteen days free
Download the app
One app. One membership.
100+ trusted global sources.