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Benzinga Insights

What Are Whales Doing With Cigna

Someone with a lot of money to spend has taken a bearish 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.

Today, Benzinga's options scanner spotted 20 options trades for Cigna.

This isn't normal.

The overall sentiment of these big-money traders is split between 45% bullish and 55%, bearish.

Out of all of the options we uncovered, there was 1 put, for a total amount of $28,860, and 19, calls, for a total amount of $1,496,717..

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 $195.0 to $310.0 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 $195.0 to $310.0 in the last 30 days.

Cigna Option Volume And Open Interest Over Last 30 Days

Biggest Options Spotted:

Symbol PUT/CALL Trade Type Sentiment Exp. Date Strike Price Total Trade Price Open Interest Volume
CI CALL TRADE BEARISH 10/21/22 $250.00 $262.0K 64 111
CI CALL TRADE BEARISH 10/21/22 $250.00 $188.1K 64 247
CI CALL TRADE BULLISH 01/20/23 $195.00 $179.0K 21.0K 40
CI CALL TRADE BULLISH 01/20/23 $195.00 $177.0K 21.0K 20
CI CALL SWEEP BULLISH 10/21/22 $310.00 $125.2K 581 365

Where Is Cigna Standing Right Now?

  • With a volume of 1,389,093, the price of CI is up 3.42% at $281.03.
  • RSI indicators hint that the underlying stock may be approaching overbought.
  • Next earnings are expected to be released in 0 days.

What The Experts Say On Cigna:

  • Truist Securities has decided to maintain their Buy rating on Cigna, which currently sits at a price target of $330.
  • Jefferies downgraded its action to Hold with a price target of $271

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.

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