Cigna Options Trading: A Deep Dive into Market Sentiment

Financial giants have made a conspicuous bearish move on Cigna. Our analysis of options history for Cigna CI revealed 16 unusual trades.

Delving into the details, we found 31% of traders were bullish, while 68% showed bearish tendencies. Out of all the trades we spotted, 13 were puts, with a value of $1,308,898, and 3 were calls, valued at $247,758.

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 $270.0 to $310.0 for Cigna over the last 3 months.

Insights into 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'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's whale trades within a strike price range from $270.0 to $310.0 in the last 30 days.

Cigna Option Volume And Open Interest Over Last 30 Days

Significant Options Trades Detected:

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.

After a thorough review of the options trading surrounding Cigna, we move to examine the company in more detail. This includes an assessment of its current market status and performance.

Cigna's Current Market Status

• Trading volume stands at 716,139, with CI's price up by 0.89%, positioned at $302.49.
• RSI indicators show the stock to be is currently neutral between overbought and oversold.
• Earnings announcement expected in 66 days.

What The Experts Say On Cigna

5 market experts have recently issued ratings for this stock, with a consensus target price of $368.6.

Turn $1000 into $1270 in just 20 days?

20-year pro options trader reveals his one-line chart technique that shows when to buy and sell. Copy his trades, which have had averaged a 27% profit every 20 days. Click here for access. * An analyst from Oppenheimer persists with their Outperform rating on Cigna, maintaining a target price of $375. * An analyst from UBS has decided to maintain their Buy rating on Cigna, which currently sits at a price target of $390. * An analyst from Piper Sandler downgraded its action to Overweight with a price target of $348. * Consistent in their evaluation, an analyst from Stephens & Co. keeps a Overweight rating on Cigna with a target price of $380. * Consistent in their evaluation, an analyst from Cantor Fitzgerald keeps a Overweight rating on Cigna with a target price of $350.

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 options trades with real-time alerts from Benzinga Pro.