Whales with a lot of money to spend have taken a noticeably bullish stance on Cigna Group.
Looking at options history for Cigna Group CI we detected 9 trades.
If we consider the specifics of each trade, it is accurate to state that 77% of the investors opened trades with bullish expectations and 22% with bearish.
From the overall spotted trades, 5 are puts, for a total amount of $161,517 and 4, calls, for a total amount of $141,102.
Predicted Price Range
Based on the trading activity, it appears that the significant investors are aiming for a price territory stretching from $250.0 to $310.0 for Cigna Group over the recent three months.
Volume & Open Interest Development
In today's trading context, the average open interest for options of Cigna Group stands at 412.17, with a total volume reaching 461.00. 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 $250.0 to $310.0, throughout the last 30 days.
Cigna Group Option Volume And Open Interest Over Last 30 Days
Noteworthy Options Activity:
| Symbol | PUT/CALL | Trade Type | Sentiment | Exp. Date | Strike Price | Total Trade Price | Open Interest | Volume |
|---|---|---|---|---|---|---|---|---|
| CI | CALL | TRADE | NEUTRAL | 06/21/24 | $310.00 | $46.2K | 69 | 28 |
| CI | PUT | TRADE | NEUTRAL | 06/21/24 | $290.00 | $45.3K | 53 | 27 |
| CI | CALL | TRADE | BULLISH | 01/16/26 | $250.00 | $38.6K | 3 | 0 |
| CI | PUT | SWEEP | BULLISH | 03/15/24 | $300.00 | $38.4K | 736 | 121 |
| CI | CALL | SWEEP | BULLISH | 02/16/24 | $300.00 | $28.2K | 1.5K | 34 |
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
Present Market Standing of Cigna Group
- Trading volume stands at 1,897,634, with CI's price up by 0.92%, positioned at $299.91.
- RSI indicators show the stock to be may be approaching overbought.
- Earnings announcement expected in 50 days.
What The Experts Say On Cigna Group
In the last month, 4 experts released ratings on this stock with an average target price of $337.5.
- An analyst from RBC Capital downgraded its action to Sector Perform with a price target of $327.
- Maintaining their stance, an analyst from Deutsche Bank continues to hold a Hold rating for Cigna Group, targeting a price of $355.
- An analyst from RBC Capital has revised its rating downward to Sector Perform, adjusting the price target to $327.
- In a positive move, an analyst from Jefferies has upgraded their rating to Buy and adjusted the price target to $341.
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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