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Cigna put volume heavy and directionally bearish

Bearish flow noted in Cigna (CI) with 4,236 puts trading, or 1.5x expected. Most active are Jan-26 350 puts and Jan-26 360 puts, with total volume in those strikes near 1,800 contracts. The Put/Call Ratio is 3.47, while ATM IV is up over 1 point on the day. Earnings are expected on February 5th.

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