High-rolling investors have positioned themselves bullish on Cigna (NYSE: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 15 options trades for Cigna. This is not a typical pattern.
The sentiment among these major traders is split, with 100% bullish and 0% bearish. Among all the options we identified, there was one put, amounting to $29,400, and 14 calls, totaling $6,210,967.
Projected Price Targets
Taking into account the Volume and Open Interest on these contracts, it appears that whales have been targeting a price range from $180.0 to $312.5 for Cigna over the last 3 months.
Analyzing Volume & Open Interest
Assessing the volume and open interest is a strategic step in options trading. These metrics shed light on the liquidity and investor interest in Cigna's options at specified strike prices. The forthcoming data visualizes the fluctuation in volume and open interest for both calls and puts, linked to Cigna's substantial trades, within a strike price spectrum from $180.0 to $312.5 over the preceding 30 days.
Cigna Option Volume And Open Interest Over Last 30 Days
Largest Options Trades Observed:
| Symbol | PUT/CALL | Trade Type | Sentiment | Exp. Date | Ask | Bid | Price | Strike Price | Total Trade Price | Open Interest | Volume |
|---|---|---|---|---|---|---|---|---|---|---|---|
| CI | CALL | SWEEP | BULLISH | 01/15/27 | $147.0 | $142.5 | $147.0 | $180.00 | $1.1M | 1.3K | 113 |
| CI | CALL | SWEEP | BULLISH | 01/15/27 | $146.7 | $142.0 | $146.5 | $180.00 | $805.6K | 1.3K | 207 |
| CI | CALL | SWEEP | BULLISH | 01/15/27 | $146.5 | $142.3 | $146.5 | $180.00 | $571.3K | 1.3K | 152 |
| CI | CALL | SWEEP | BULLISH | 01/15/27 | $146.0 | $142.5 | $146.0 | $180.00 | $511.0K | 1.3K | 35 |
| CI | CALL | SWEEP | BULLISH | 01/15/27 | $146.0 | $142.0 | $146.0 | $180.00 | $496.4K | 1.3K | 392 |
About Cigna
Cigna primarily provides pharmacy benefit management and health insurance services. Its PBM and specialty pharmacy 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, and the company operates mostly in the US with 17 million US and 2 million international medical members covered as of September 2024.
Current Position of Cigna
- With a volume of 954,391, the price of CI is down -2.48% at $311.25.
- RSI indicators hint that the underlying stock may be oversold.
- Next earnings are expected to be released in 52 days.
Unusual Options Activity Detected: Smart Money on the Move
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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 with Benzinga Pro for real-time alerts.
