CVS Health Stock Headed for Worst Day Since 2009

Core Viewpoint - CVS Health Corp's shares are experiencing a significant decline, dropping 18% to $55.55, following disappointing first-quarter earnings and revenue that fell short of estimates, alongside a reduced 2024 forecast due to increased medical costs [1] Group 1: Stock Performance - CVS stock is on track for its worst daily percentage drop since 2009, reaching four-year lows [1] - The stock has declined approximately 30% since the beginning of the year, trading below all moving averages from the 20-day to the 320-day trendlines [1] Group 2: Options Activity - Options volume has surged to double the average daily amount, indicating heightened trading activity [1] - There have been 44,000 call options exchanged compared to 27,000 put options, suggesting that many traders are buying on the dip [1] - The June 60 call option is the most popular, with new positions being opened [1]