High-rolling investors have positioned themselves bullish on Cigna Group CI, and it's important for retail traders to take note. \This activity came to our attention today through Benzinga's tracking of publicly available options data. The identities of these investors are uncertain, but such a significant move in CI often signals that someone has privileged information.
Today, Benzinga's options scanner spotted 14 options trades for Cigna Group. This is not a typical pattern.
The sentiment among these major traders is split, with 57% bullish and 42% bearish. Among all the options we identified, there was one put, amounting to $37,720, and 13 calls, totaling $589,913.
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 $220.0 to $290.0 for Cigna Group over the last 3 months.
Analyzing Volume & Open Interest
Looking at the volume and open interest is a powerful move while trading options. This data can help you track the liquidity and interest for Cigna Group's options for a given strike price. Below, we can observe the evolution of the volume and open interest of calls and puts, respectively, for all of Cigna Group's whale trades within a strike price range from $220.0 to $290.0 in the last 30 days.
Cigna Group 30-Day Option Volume & Interest Snapshot
Largest Options Trades Observed:
| Symbol | PUT/CALL | Trade Type | Sentiment | Exp. Date | Strike Price | Total Trade Price | Open Interest | Volume |
|---|---|---|---|---|---|---|---|---|
| CI | CALL | SWEEP | BEARISH | 01/19/24 | $280.00 | $84.4K | 2.2K | 93 |
| CI | CALL | SWEEP | BEARISH | 01/19/24 | $260.00 | $71.0K | 586 | 108 |
| CI | CALL | SWEEP | BULLISH | 01/19/24 | $280.00 | $55.7K | 2.2K | 391 |
| CI | CALL | SWEEP | BULLISH | 03/15/24 | $220.00 | $54.5K | 10 | 10 |
| CI | CALL | TRADE | BULLISH | 01/17/25 | $270.00 | $53.2K | 11.9K | 32 |
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.
After a thorough review of the options trading surrounding Cigna Group, we move to examine the company in more detail. This includes an assessment of its current market status and performance.
Cigna Group's Current Market Status
- Trading volume stands at 1,277,316, with CI's price up by 2.71%, positioned at $270.0.
- RSI indicators show the stock to be may be oversold.
- Earnings announcement expected in 63 days.
What The Experts Say On Cigna Group
Over the past month, 4 industry analysts have shared their insights on this stock, proposing an average target price of $328.75.
- An analyst from RBC Capital persists with their Sector Perform rating on Cigna Group, maintaining a target price of $327.
- An analyst from RBC Capital downgraded its action to Sector Perform with a price target of $327.
- Consistent in their evaluation, an analyst from Cantor Fitzgerald keeps a Neutral rating on Cigna Group with a target price of $334.
- An analyst from RBC Capital downgraded its action to Sector Perform with a price target of $327.
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 Group, Benzinga Pro gives you real-time options trades alerts.
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
Date of Trade | ticker | Put/Call | Strike Price | DTE | Sentiment |
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