CVS Health Option Alert: Oct 20 $75 Calls at the Ask: 2500 @ $2.63 vs 366 OI; Ref=$73.565
Portfolio Pulse from Charles Gross
There has been a significant purchase of CVS Health's October 20 $75 call options. A total of 2500 contracts were bought at the ask price of $2.63, compared to the open interest of 366 contracts. The reference price for CVS Health is $73.565.
August 07, 2023 | 5:38 pm
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POSITIVE IMPACT
The large purchase of CVS Health's call options indicates a bullish sentiment from the buyer, expecting the stock price to rise above $75 by October 20.
The purchase of a large number of call options usually indicates that the buyer believes the underlying stock price will increase. In this case, the buyer expects CVS Health's stock price to rise above $75 by October 20. This could potentially drive the stock price up in the short term due to increased demand.
CONFIDENCE 80
IMPORTANCE 70
RELEVANCE 100