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What Are Whales Doing With Cigna

Someone with a lot of money to spend has taken a bullish stance on Cigna (NYSE: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.

Benzinga · 06/10/2022 14:51

Someone with a lot of money to spend has taken a bullish stance on Cigna (NYSE: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.

So how do we know what this whale just did?

Today, Benzinga's options scanner spotted 11 uncommon options trades for Cigna.

This isn't normal.

The overall sentiment of these big-money traders is split between 63% bullish and 36%, bearish.

Out of all of the special options we uncovered, 9 are puts, for a total amount of $608,760, and 2 are calls, for a total amount of $63,400.

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 $180.0 to $280.0 for Cigna 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'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 activity within a strike price range from $180.0 to $280.0 in the last 30 days.

Cigna Option Volume And Open Interest Over Last 30 Days

Options Call Chart

Biggest Options Spotted:

 

Symbol PUT/CALL Trade Type Sentiment Exp. Date Strike Price Total Trade Price Open Interest Volume
CI PUT TRADE BULLISH 06/16/23 $230.00 $117.0K 26 56
CI PUT TRADE BULLISH 06/16/23 $210.00 $102.9K 1 0
CI PUT TRADE BEARISH 01/20/23 $185.00 $89.1K 517 264
CI PUT TRADE BEARISH 01/20/23 $180.00 $88.0K 402 244
CI PUT TRADE BULLISH 06/16/23 $220.00 $85.7K 7 93

Where Is Cigna Standing Right Now?

  • With a volume of 493,321, the price of CI is down -0.82% at $255.46.
  • RSI indicators hint that the underlying stock is currently neutral between overbought and oversold.
  • Next earnings are expected to be released in 55 days.

What The Experts Say On Cigna:

  • Deutsche Bank has decided to maintain their Hold rating on Cigna, which currently sits at a price target of $284.
  • Morgan Stanley has decided to maintain their Equal-Weight rating on Cigna, which currently sits at a price target of $283.
  • JP Morgan upgraded its action to Overweight with a price target of $304
  • Bernstein downgraded its action to Market Perform with a price target of $301
  • Barclays has decided to maintain their Overweight rating on Cigna, which currently sits at a price target of $310.

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, Benzinga Pro gives you real-time options trades alerts.