Looking At Cigna Group's Recent Unusual Options Activity

Financial giants have made a conspicuous bullish move on Cigna Group. Our analysis of options history for Cigna Group CI revealed 14 unusual trades.

Delving into the details, we found 71% of traders were bullish, while 28% showed bearish tendencies. Out of all the trades we spotted, 6 were puts, with a value of $255,882, and 8 were calls, valued at $355,651.

Expected Price Movements

After evaluating the trading volumes and Open Interest, it's evident that the major market movers are focusing on a price band between $150.0 and $300.0 for Cigna Group, spanning the last three months.

Analyzing Volume & Open Interest

In terms of liquidity and interest, the mean open interest for Cigna Group options trades today is 406.43 with a total volume of 1,259.00.

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 $150.0 to $300.0 over the last 30 days.

Cigna Group Option Activity Analysis: Last 30 Days

Biggest Options Spotted:

Symbol PUT/CALL Trade Type Sentiment Exp. Date Strike Price Total Trade Price Open Interest Volume
CI CALL TRADE BULLISH 01/17/25 $150.00 $74.1K 26 5
CI PUT TRADE NEUTRAL 01/19/24 $292.50 $66.3K 26 144
CI CALL TRADE BULLISH 01/19/24 $295.00 $52.2K 45 140
CI PUT SWEEP BULLISH 06/21/24 $300.00 $48.9K 220 24
CI CALL TRADE BEARISH 04/19/24 $300.00 $43.2K 99 33

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.

Present Market Standing of Cigna Group

  • With a volume of 646,045, the price of CI is up 0.23% at $292.75.
  • RSI indicators hint that the underlying stock may be approaching overbought.
  • Next earnings are expected to be released in 45 days.

Professional Analyst Ratings for Cigna Group

In the last month, 3 experts released ratings on this stock with an average target price of $341.0.

  • Showing optimism, an analyst from Jefferies upgrades its rating to Buy with a revised price target of $341.
  • Consistent in their evaluation, an analyst from Deutsche Bank keeps a Hold rating on Cigna Group with a target price of $355.
  • An analyst from RBC Capital downgraded its action to Sector Perform with a 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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Posted In: OptionsMarketsBZI-UOA
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