Whales with a lot of money to spend have taken a noticeably bullish stance on Elevance Health.
Looking at options history for Elevance Health ELV we detected 14 trades.
If we consider the specifics of each trade, it is accurate to state that 50% of the investors opened trades with bullish expectations and 50% with bearish.
From the overall spotted trades, 8 are puts, for a total amount of $393,037 and 6, calls, for a total amount of $166,060.
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 $490.0 to $540.0 for Elevance Health over the last 3 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 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 $490.0 to $540.0, over the past month.
Elevance Health Call and Put Volume: 30-Day Overview
Significant Options Trades Detected:
| Symbol | PUT/CALL | Trade Type | Sentiment | Exp. Date | Ask | Bid | Price | Strike Price | Total Trade Price | Open Interest | Volume |
|---|---|---|---|---|---|---|---|---|---|---|---|
| ELV | PUT | SWEEP | BEARISH | 10/18/24 | $9.2 | $9.0 | $8.97 | $530.00 | $78.8K | 45 | 791 |
| ELV | PUT | SWEEP | BULLISH | 06/20/25 | $36.0 | $33.5 | $33.5 | $530.00 | $67.0K | 54 | 22 |
| ELV | PUT | SWEEP | BEARISH | 10/18/24 | $8.9 | $7.9 | $8.9 | $530.00 | $49.7K | 45 | 706 |
| ELV | PUT | TRADE | BEARISH | 10/18/24 | $9.5 | $7.9 | $9.45 | $530.00 | $47.2K | 45 | 551 |
| ELV | PUT | TRADE | BEARISH | 10/18/24 | $9.5 | $7.9 | $9.4 | $530.00 | $47.0K | 45 | 651 |
About Elevance Health
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.
After a thorough review of the options trading surrounding Elevance Health, we move to examine the company in more detail. This includes an assessment of its current market status and performance.
Elevance Health's Current Market Status
- Currently trading with a volume of 310,819, the ELV's price is down by -0.92%, now at $534.89.
- RSI readings suggest the stock is currently may be approaching oversold.
- Anticipated earnings release is in 23 days.
What The Experts Say On Elevance Health
In the last month, 3 experts released ratings on this stock with an average target price of $605.0.
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 Cantor Fitzgerald has revised its rating downward to Overweight, adjusting the price target to $600. * Reflecting concerns, an analyst from Stephens & Co. lowers its rating to Overweight with a new price target of $615. * In a cautious move, an analyst from Cantor Fitzgerald downgraded its rating to Overweight, setting a price target of $600.
Trading options involves greater risks but also offers the potential for higher profits. Savvy traders mitigate these risks through ongoing education, strategic trade adjustments, utilizing various indicators, and staying attuned to market dynamics. Keep up with the latest options trades for Elevance Health with Benzinga Pro for real-time alerts.
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