CVS Gamma Exposure, IV Rank & Implied Volatility
CVS Health Corporation (CVS) options data — GEX, IV rank, options chain & Greeks
CVS options trade with implied volatility typically in the 18% - 42% range, averaging N/A in daily volume with good liquidity. Next earnings: See earnings calendar. Weekly options and LEAPS are available.
An IV rank near 24.3 (the value shown here is illustrative) would mean implied volatility is in roughly the 24.3th percentile of its 1-year range — low IV, premium-buying regime for long calls/puts and debit spreads. For today's live CVS IV rank from ORATS, open the dashboard.
Chart shows simulated data for display purposes. View the real CVS IV history on the live platform →
Comprehensive options market data for CVS Health Corporation (CVS).
CVS Options at a Glance
What's Covered in This Guide
1 About CVS Health Corporation (CVS)
CVS Health is an integrated healthcare company operating retail pharmacies, pharmacy benefit management (Caremark), and health insurance (Aetna) across the U.S.
Company Profile
Key Dates
CVS Health Corporation operates in the Healthcare sector.
2 CVS Options Market Overview
CVS options provide good liquidity for options traders.
Liquidity Assessment: Good
CVS options are available for trading across multiple expirations.
3 CVS Implied Volatility & IV Rank
CVS implied volatility reflects inherent uncertainty in healthcare outcomes, clinical trials, and regulatory decisions. IV patterns follow earnings and FDA catalysts.
Earnings Impact
IV typically expands before earnings and contracts after the announcement.
The post-earnings volatility drop is known as IV crush. Holders of short CVS options should also understand early assignment risk around dividends and expiration.
Historical Volatility vs IV
CVS IV generally trades near historical volatility, with premiums expanding around earnings.
Term Structure
Typically upward sloping under normal conditions.
CVS Gamma Exposure (GEX)
Gamma Exposure analysis for CVS reveals dealer hedging dynamics at key strike levels.
Typical GEX Profile: CVS tends to operate in a positive gamma environment during normal conditions.
Key Levels:
Dealer Hedging:
4 Common CVS Options Strategies
These are strategies commonly used by traders on CVS options, based on typical market characteristics. This is not investment advice.
Popular for CVS shareholders seeking additional income.
Defined-risk directional exposure on CVS.
Range-bound strategy for CVS between events.
Key Considerations for CVS Options
- CVS options liquidity varies by expiration - prefer near-term and monthly expirations for tighter spreads
- Monitor earnings dates for IV expansion/contraction patterns
- Consider the stock's beta when sizing positions
Frequently Asked Questions: CVS Options
What is CVS's typical implied volatility?
CVS implied volatility typically ranges from 18% - 42%.
Does CVS have weekly options?
CVS offers weekly options.
What is CVS's options trading profile?
CVS (CVS Health Corporation) options trade with good liquidity, averaging N/A in daily volume, typical bid-ask spreads of N/A. Implied volatility typically falls in the 18% - 42% range. The position sits in the Healthcare category for portfolio diversification and options strategy design.
How does CVS implied volatility behave around earnings?
IV typically expands before earnings and contracts after the announcement. Next scheduled earnings: See earnings calendar. Traders often size short premium positions for the post-earnings IV crush, while long premium buyers should be aware that the IV decline can outweigh small directional moves.
What options strategies work well on CVS?
Popular strategies on CVS options include Covered Calls, Vertical Spreads, Iron Condors. Strategy selection depends on the current IV environment versus the 18% - 42% typical range, days to next earnings, and the trader's directional outlook. Higher IV regimes favour premium-selling strategies; lower IV regimes favour directional debit spreads or long premium plays.
What is CVS's gamma exposure (GEX)?
Gamma exposure (GEX) measures how options dealers' hedging of their net gamma position can influence CVS's intraday price action. CVS tends to operate in a positive gamma environment during normal conditions. Positive GEX tends to dampen volatility and create mean-reverting moves, while negative GEX can amplify swings. View live CVS GEX levels and the gamma-flip point on ApexVol.
What is CVS's IV rank?
CVS's IV rank shows where CVS's current implied volatility sits within its trailing 1-year range, scored 0–100. A reading near 100 means IV is near its yearly high — options are relatively expensive, which favors premium-selling strategies like credit spreads and iron condors. A reading near 0 means IV is near its yearly low, favoring premium-buying. CVS implied volatility typically ranges from 18% - 42%. Check CVS's live IV rank and percentile on ApexVol's IV analytics.
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