Spotlight on Cigna Group: Analyzing the Surge in Options Activity

Whales with a lot of money to spend have taken a noticeably bearish stance on Cigna Group.

Looking at options history for Cigna Group CI we detected 13 trades.

If we consider the specifics of each trade, it is accurate to state that 38% of the investors opened trades with bullish expectations and 61% with bearish.

From the overall spotted trades, 7 are puts, for a total amount of $376,074 and 6, calls, for a total amount of $642,060.

Projected Price Targets

Based on the trading activity, it appears that the significant investors are aiming for a price territory stretching from $250.0 to $320.0 for Cigna Group over the recent three months.

Volume & Open Interest Development

In terms of liquidity and interest, the mean open interest for Cigna Group options trades today is 346.08 with a total volume of 650.00.

In the following chart, we are able to follow the development of volume and open interest of call and put options for Cigna Group's big money trades within a strike price range of $250.0 to $320.0 over the last 30 days.

Cigna Group Option Activity Analysis: Last 30 Days

Noteworthy Options Activity:

Symbol PUT/CALL Trade Type Sentiment Exp. Date Strike Price Total Trade Price Open Interest Volume
CI CALL SWEEP BEARISH 01/19/24 $270.00 $214.2K 1.6K 90
CI CALL TRADE BEARISH 12/29/23 $270.00 $208.0K 681 100
CI PUT SWEEP BULLISH 03/15/24 $280.00 $109.3K 162 184
CI CALL TRADE BULLISH 12/15/23 $270.00 $106.2K 620 9
CI PUT TRADE BEARISH 03/15/24 $320.00 $83.1K 2 0

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.

Following our analysis of the options activities associated with Cigna Group, we pivot to a closer look at the company's own performance.

Cigna Group's Current Market Status

  • With a volume of 1,421,594, the price of CI is down -0.96% at $295.77.
  • RSI indicators hint that the underlying stock may be approaching overbought.
  • Next earnings are expected to be released in 49 days.

What Analysts Are Saying About Cigna Group

Over the past month, 3 industry analysts have shared their insights on this stock, proposing an average target price of $341.0.

  • Maintaining their stance, an analyst from Deutsche Bank continues to hold a Hold rating for Cigna Group, targeting a price of $355.
  • Showing optimism, an analyst from Jefferies upgrades its rating to Buy with a revised price target of $341.
  • Reflecting concerns, an analyst from RBC Capital lowers its rating to Sector Perform with a new price target of $327.

Options trading presents higher risks and potential rewards. Astute traders manage these risks by continually educating themselves, adapting their strategies, monitoring multiple indicators, and keeping a close eye on market movements. Stay informed about the latest Cigna Group options trades with real-time alerts from Benzinga Pro.

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Date of Trade
Strike Price
Posted In: OptionsMarketsBZI-UOA
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