Calls Sold on Cigna Corp (CI)

Shares of Cigna Corp CI are higher on the session by 0.40%, currently trading $34.94. The stock has been drifting sideways for the past five months and has managed to regain the 50-day moving average to the topside today. Calls are being sold on the name today, betting that a further rally may not be in the cards. The June $35 call was sold 5,200 times on open interest of 5,802 contracts. This suggests that today’s action is a closing transaction on long calls. Call volume is running at 2.26x the daily average. CIGNA Corporation is an investor-owned health service organization in the United States.