Check Out What Whales Are Doing With ELV
Portfolio Pulse from Benzinga Insights
A significant bearish stance has been taken on Elevance Health (NYSE:ELV) by a large investor or institution, as indicated by unusual options activity. The overall sentiment of these big-money traders is 75% bearish and 25% bullish. The whales have been targeting a price range from $420.0 to $500.0 for Elevance Health over the last 3 months. The price of ELV is currently up 0.28% at $463.94, and RSI indicators suggest the stock may be approaching overbought territory.
October 17, 2023 | 7:16 pm
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A large investor has taken a bearish stance on Elevance Health, with unusual options activity indicating a target price range of $420-$500. The stock is currently up 0.28% at $463.94, and may be approaching overbought territory.
The bearish stance taken by a large investor or institution, as indicated by the unusual options activity, suggests that there may be a belief that the stock is overvalued and could decrease in price. This is further supported by the RSI indicators suggesting the stock may be overbought. The targeted price range also indicates where these investors believe the stock price will move in the short term.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100