Bearish flow noted in Cigna (CI) with 2,573 puts trading, or 1.5x expected. Most active are Mar-25 295 puts and Mar-25 292.5 puts, with total volume in those strikes near 1,500 contracts. The Put/Call Ratio is 2.84, while ATM IV is up over 1 point on the day. Earnings are expected on May 1st.
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