Looking At Cigna Group's Recent Unusual Options Activity

Someone with a lot of money to spend has taken a bearish stance on Cigna Group CI.

And retail traders should know.

We noticed this today when the big position showed up on publicly available options history that we track here at Benzinga.

Whether this is an institution or just a wealthy individual, we don't know. But when something this big happens with CI, it often means somebody knows something is about to happen.

Today, Benzinga's options scanner spotted 13 options trades for Cigna Group.

This isn't normal.

The overall sentiment of these big-money traders is split between 30% bullish and 69%, bearish.

Out of all of the options we uncovered, 12 are puts, for a total amount of $1,288,120, and there was 1 call, for a total amount of $56,352.

What's The Price Target?

Taking into account the Volume and Open Interest on these contracts, it appears that whales have been targeting a price range from $250.0 to $280.0 for Cigna Group over the last 3 months.

Volume & Open Interest Development

Looking at the volume and open interest is an insightful way to conduct due diligence on a stock.

This data can help you track the liquidity and interest for Cigna Group'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 Group's whale activity within a strike price range from $250.0 to $280.0 in the last 30 days.

Cigna Group Option Volume And Open Interest Over Last 30 Days

Biggest Options Spotted:

Where Is Cigna Group Standing Right Now?

• With a volume of 1,058,586, the price of CI is up 1.32% at $245.84.
• RSI indicators hint that the underlying stock is currently neutral between overbought and oversold.
• Next earnings are expected to be released in 64 days.

What The Experts Say On Cigna Group:

• Deutsche Bank has decided to maintain their Hold rating on Cigna Group, which currently sits at a price target of $310.
• Raymond James has decided to maintain their Strong Buy rating on Cigna Group, which currently sits at a price target of $310.
• Wells Fargo has decided to maintain their Equal-Weight rating on Cigna Group, which currently sits at a price target of $284.
• RBC Capital has decided to maintain their Sector Perform rating on Cigna Group, which currently sits at a price target of $287.

Options are a riskier asset compared to just trading the stock, but they have higher profit potential. Serious options traders manage this risk by educating themselves daily, scaling in and out of trades, following more than one indicator, and following the markets closely.

If you want to stay updated on the latest options trades for Cigna Group, Benzinga Pro gives you real-time options trades alerts.