Financial giants have made a conspicuous bullish move on Cigna Group. Our analysis of options history for Cigna Group CI revealed 10 unusual trades.
Delving into the details, we found 60% of traders were bullish, while 40% showed bearish tendencies. Out of all the trades we spotted, 2 were puts, with a value of $105,035, and 8 were calls, valued at $283,885.
What's The Price Target?
After evaluating the trading volumes and Open Interest, it's evident that the major market movers are focusing on a price band between $270.0 and $295.0 for Cigna Group, spanning the last three months.
Volume & Open Interest Trends
In today's trading context, the average open interest for options of Cigna Group stands at 820.6, with a total volume reaching 489.00. The accompanying chart delineates the progression of both call and put option volume and open interest for high-value trades in Cigna Group, situated within the strike price corridor from $270.0 to $295.0, throughout the last 30 days.
Cigna Group Option Activity Analysis: Last 30 Days
Largest Options Trades Observed:
| Symbol | PUT/CALL | Trade Type | Sentiment | Exp. Date | Strike Price | Total Trade Price | Open Interest | Volume |
|---|---|---|---|---|---|---|---|---|
| CI | PUT | SWEEP | BULLISH | 11/24/23 | $295.00 | $69.0K | 19 | 0 |
| CI | CALL | TRADE | BULLISH | 01/19/24 | $280.00 | $50.7K | 2.0K | 48 |
| CI | CALL | TRADE | NEUTRAL | 01/19/24 | $280.00 | $44.2K | 2.0K | 114 |
| CI | CALL | TRADE | BULLISH | 01/19/24 | $280.00 | $42.9K | 2.0K | 81 |
| CI | CALL | TRADE | BULLISH | 01/19/24 | $280.00 | $42.9K | 2.0K | 48 |
About Cigna Group
Cigna primarily provides pharmacy benefit management and health insurance services. Its PBM services, which were greatly expanded by its 2018 merger with Express Scripts, are mostly sold to health insurance plans and employers. Its largest PBM contract is the Department of Defense and it recently won a deal with top-tier insurer Centene. In health insurance and other benefits, Cigna mostly serves employers through self-funding arrangements, but it also operates in government programs, such as Medicare Advantage. The company operates mostly in the U.S. with 18 million U.S. medical members covered as of the end of June 2023.
Having examined the options trading patterns of Cigna Group, our attention now turns directly to the company. This shift allows us to delve into its present market position and performance
Current Position of Cigna Group
- Trading volume stands at 568,443, with CI's price down by -2.57%, positioned at $277.0.
- RSI indicators show the stock to be may be approaching oversold.
- Earnings announcement expected in 73 days.
What Analysts Are Saying About Cigna Group
In the last month, 3 experts released ratings on this stock with an average target price of $329.3333333333333.
- An analyst from Cantor Fitzgerald has decided to maintain their Neutral rating on Cigna Group, which currently sits at a price target of $334.
- Consistent in their evaluation, an analyst from RBC Capital keeps a Sector Perform rating on Cigna Group with a target price of $327.
- Reflecting concerns, an analyst from RBC Capital lowers its rating to Sector Perform with a new price target of $327.
Trading options involves greater risks but also offers the potential for higher profits. Savvy traders mitigate these risks through ongoing education, strategic trade adjustments, utilizing various indicators, and staying attuned to market dynamics. Keep up with the latest options trades for Cigna Group with Benzinga Pro for real-time alerts.
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Date of Trade | ticker | Put/Call | Strike Price | DTE | Sentiment |
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