Unpacking the Latest Options Trading Trends in Cigna Group
Portfolio Pulse from Benzinga Insights
Financial analysts have observed a bullish trend in options trading for Cigna Group (NYSE:CI), with 72% of trades being bullish. The trading activity suggests a target price range of $270 to $390. The analysis includes a detailed review of call and put volumes, largest trades, and the company's current market status, including a recent downgrade by Cantor Fitzgerald to Overweight with a target price of $384. Cigna's stock is currently at $349.13, with trading volume at 893,618 and an RSI indicating a neutral position. The company, a major player in health insurance and pharmacy benefit management, is expected to announce earnings in 16 days.
April 16, 2024 | 5:01 pm
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NEUTRAL IMPACT
Cigna Group's bullish options trading trend and a recent analyst downgrade to Overweight with a target price of $384 suggest mixed short-term impacts. The stock's current price is $349.13, with an upcoming earnings announcement that could influence its direction.
The bullish options trading indicates investor optimism, potentially driving short-term price increases. However, the recent analyst downgrade, despite a high target price, introduces uncertainty. The upcoming earnings announcement is a critical event that could sway the stock's direction, justifying a neutral score due to these mixed signals.
CONFIDENCE 85
IMPORTANCE 90
RELEVANCE 100