Looking At Cigna's Recent Whale Trades

Looking At Cigna's Recent Whale Trades

A whale with a lot of money to spend has taken a noticeably bearish stance on Cigna.

Looking at options history for Cigna CI we detected 11 strange trades.

If we consider the specifics of each trade, it is accurate to state that 18% of the investors opened trades with bullish expectations and 81% with bearish.

From the overall spotted trades, 5 are puts, for a total amount of $382,169 and 6, calls, for a total amount of $316,090.

What's The Price Target?

Taking into account the Volume and Open Interest on these contracts, it appears that whales have been targeting a price range from $200.0 to $280.0 for Cigna over the last 3 months.

Volume & Open Interest Development

In terms of liquidity and interest, the mean open interest for Cigna options trades today is 3689.25 with a total volume of 1,054.00.

In the following chart, we are able to follow the development of volume and open interest of call and put options for Cigna's big money trades within a strike price range of $200.0 to $280.0 over the last 30 days.

Cigna Option Volume And Open Interest Over Last 30 Days

Biggest Options Spotted:

Symbol PUT/CALL Trade Type Sentiment Exp. Date Strike Price Total Trade Price Open Interest Volume
CI PUT TRADE BEARISH 09/16/22 $280.00 $233.0K 209 101
CI CALL TRADE BEARISH 08/19/22 $240.00 $75.4K 86 35
CI CALL TRADE BEARISH 09/16/22 $280.00 $73.0K 344 105
CI CALL TRADE BEARISH 09/16/22 $280.00 $61.5K 344 189
CI PUT SWEEP BEARISH 07/15/22 $272.50 $51.9K 585 82

Symbol PUT/CALL Trade Type Sentiment Exp. Date Strike Price Total Trade Price Open Interest Volume
CI PUT TRADE BEARISH 09/16/22 $280.00 $233.0K 209 101
CI CALL TRADE BEARISH 08/19/22 $240.00 $75.4K 86 35
CI CALL TRADE BEARISH 09/16/22 $280.00 $73.0K 344 105
CI CALL TRADE BEARISH 09/16/22 $280.00 $61.5K 344 189
CI PUT SWEEP BEARISH 07/15/22 $272.50 $51.9K 585 82

Where Is Cigna Standing Right Now?

  • With a volume of 2,246,646, the price of CI is down -2.63% at $266.54.
  • RSI indicators hint that the underlying stock may be approaching overbought.
  • Next earnings are expected to be released in 21 days.

What The Experts Say On Cigna:

  • Jefferies downgraded its action to Hold with a price target of $271
  • Morgan Stanley upgraded its action to Overweight with a price target of $296
  • Truist Securities has decided to maintain their Buy rating on Cigna, which currently sits at a price target of $330.
  • Loop Capital downgraded its action to Hold with a price target of $270

Options are a riskier asset compared to just trading the stock, but they have higher profit potential. Serious options traders manage this risk by educating themselves daily, scaling in and out of trades, following more than one indicator, and following the markets closely.

If you want to stay updated on the latest options trades for Cigna, Benzinga Pro gives you real-time options trades alerts.

Posted In: BZI-UOAOptionsMarkets