Elevance Health Surges 2.77% on Q3 Earnings Reaffirmation – What’s Fueling the Rally?

Summary
• Elevance Health (ELV) trades at $334.855, up 2.77% as of 17:58 ET on November 17, 2025.
• Intraday range spans $324.385 to $336.47, with 894,971 shares traded (0.405% turnover rate).
• Q3 2025 results reaffirmed $30 EPS guidance, with operating revenue rising 12% to $50.1B.
• Sector leader UnitedHealth Group (UNH) gains 0.97%, while ELV outperforms peers with sharp intraday momentum.

Today’s 2.77% rally in Elevance Health reflects a mix of earnings affirmation and sector dynamics. With operating revenue up 12% and a disciplined cost structure, the stock’s breakout above key resistance levels suggests a strategic inflection point. Traders are now parsing technicals and options flows to gauge sustainability.

Q3 Earnings Reaffirmation Sparks Rally
Elevance Health’s 2.77% surge stems directly from its Q3 2025 earnings report, which reaffirmed full-year guidance of $30 adjusted diluted EPS and a 90% benefit expense ratio. The company highlighted disciplined execution in a dynamic healthcare environment, including growth in Medicare Advantage membership and AI-driven digital solutions. While the 91.3% benefit expense ratio rose 180 bps year-over-year, management attributed this to expected cost trends in Medicare Part D under the Inflation Reduction Act. The stock’s intraday high of $336.47 suggests immediate conviction in the guidance, with investors pricing in long-term affordability initiatives and value-based care partnerships.

Managed Health Care Sector Gains Momentum as ELV Outpaces UNH
The Managed Health Care sector, led by UnitedHealth Group (UNH), saw a 0.97% intraday gain, but Elevance Health’s 2.77% rally outperformed peers. This divergence reflects ELV’s focus on affordability and AI-enabled solutions, contrasting with broader sector concerns over ACA Marketplace premium hikes and Medicare Advantage plan dissatisfaction. ELV’s disciplined cost management—evidenced by a 10.5% operating expense ratio—positions it as a sector differentiator, particularly as PBMI (Pharmacy & Medical Integration) trends gain traction.

Options and ETF Plays for ELV’s Bullish Momentum
• 200-day MA: $363.24 (above) • RSI: 39.86 (neutral) • MACD: -4.18 (bearish) • Bollinger Bands: $299.67–$357.92 (upper band near $336.47)

ELV’s technicals suggest a short-term bullish trend within a long-term range. The stock is trading near the upper Bollinger Band ($357.92) and above its 30D MA ($336.85), but below the 200D MA ($363.24). RSI at 39.86 indicates no overbought conditions, while the MACD histogram (-0.08) hints at waning bearish momentum. Aggressive bulls may consider ELV20251121C330 into a bounce above $330, leveraging its 95.83% price change ratio and 35.55% leverage ratio. For downside protection, ELV20251121P330 offers -43.82% price change but high gamma (0.025274) for volatility.

Top Options Contracts:
• ELV20251121C330 (Call):
- Strike: $330 • Expiration: 2025-11-21 • IV: 45.72% • Leverage: 35.55% • Delta: 0.604 • Theta: -1.43 • Gamma: 0.0215 • Turnover: 212,015
- Payoff at 5% Upside: $17.43/share (max(0, 351.59 - 330)).
- High leverage and moderate delta position this call to capitalize on a breakout above $330.
• ELV20251121P330 (Put):
- Strike: $330 • Expiration: 2025-11-21 • IV: 38.51% • Leverage: 81.70% • Delta: -0.3799 • Theta: -0.022 • Gamma: 0.02527 • Turnover: 4,316
- Payoff at 5% Upside: $0 (max(0, 330 - 351.59)).
- High gamma and IV make this put ideal for volatility plays if the rally stalls.

Hook: Aggressive bulls may consider ELV20251121C330 into a bounce above $330.

Backtest Elevance Health Stock Performance
The event-level backtest is ready. 22 instances of a ≥3 % open-to-close intraday surge were found in ELV (2022-01-01 → 2025-11-17). A 30-day post-event study shows mildly positive average excess returns but no statistically significant edge.Auto-completed assumptions • “Intraday surge” was defined as same-day open-to-close change > 3 %. • Closing prices were used for performance measurement. • 30 trading days were analysed after each event (industry convention for short-term impact studies).You can explore the full statistics and visualization below.Feel free to drill down on specific holding horizons, tighten the surge threshold, or layer on stop-loss/take-profit rules if you’d like to refine the strategy.

ELV’s Rally Gains Legs – Watch for $330 Breakout or $306.70 Support Test
Elevance Health’s 2.77% rally on Q3 earnings reaffirmation signals a potential breakout from its long-term range. With RSI neutral and Bollinger Bands near the upper limit, the stock is primed for a directional move. Sector leader UnitedHealth Group (UNH) gains 0.97%, but ELV’s focus on affordability and AI-driven solutions positions it as a momentum play. Traders should monitor the $330 level for a bullish confirmation or the 200D MA ($306.70) for a breakdown scenario. For now, ELV20251121C330 offers a high-leverage path to capitalize on a breakout, while the put counterpart provides downside insurance. Watch for $330 clearance to validate the rally’s sustainability.