Primary read
Volatility
Volatility expansion watch
Ticker Options Intelligence
CI options intelligence
Cigna Corp options pressure, expected move, strike concentration, and Sharemaestro trend context.
Conviction
45
Market data through 29 Jul 2026
Checked 30 Jul 2026 01:58 · complete available chain
Volatility expansion watch
Volatility pressure
CI currently carries volatility options pressure with a 45/100 conviction score. The nearest-chain expected move is 6.4%, with volume/open-interest participation at 0.05.
Expected move
6.4%
Wider near-term move priced
Activity / OI
0.05
Current volume is quieter versus prior open interest
Put-call
1.55
Put-side skew
Trend fit
84
Options agree with trend context
Weekly backdrop
+2.9%
RS -4.2
Expected move
6.4%
Put-call volume
1.55
Volume / OI
0.05
Reference IV
1.04
Max pain
290.00
Underlying
289.57
Nearest expiry
31 Jul 2026
Contracts
1166
Options Intent Radar
Earnings/event positioning
Options activity is concentrated around a live event window, so the cleanest read is event positioning rather than pure direction.
Options are pricing movement more than direction; compare expected move with the stock's actual weekly change.
Earnings/event positioning matters because it connects the options headline to the actual evidence: $2.4M of estimated gross traded notional, calls · 0-7 days · otm, and a volatility flow versus price backdrop. Use it as a research priority signal, then validate the chart, liquidity, event calendar, and risk before acting.
Options pressure-15
1W price+2.9%
Call premium45%
Put premium55%
Notional split
C 45% / P 55%
Estimated gross traded notional uses volume × contract multiplier × midpoint, or last price when no valid midpoint is available.
Freshness
0.05
Volume divided by open interest across the visible chain.
Trend fit
84/100
Agreement between options pressure and Sharemaestro market context.
Event window
30 Jul
Matched earnings event is 0 days away.
Aggregate chain data does not identify trade aggressor or opening versus closing activity; call/put concentration is not proof of market direction.
Calls · 0-7 days · OTM
calls cluster with 1106 contracts traded, $430542 estimated gross traded notional, and 18% of visible notional.
$430542
Puts · 46-90 days · OTM
puts cluster with 936 contracts traded, $428312 estimated gross traded notional, and 18% of visible notional.
$428312
Puts · 46-90 days · ITM
puts cluster with 110 contracts traded, $265310 estimated gross traded notional, and 11% of visible notional.
$265310
Puts · 0-7 days · OTM
puts cluster with 820 contracts traded, $195173 estimated gross traded notional, and 8% of visible notional.
$195173
Calls · 46-90 days · OTM
calls cluster with 124 contracts traded, $170155 estimated gross traded notional, and 7% of visible notional.
$170155
Setup Classification
Opportunity and risk frame
Positioning agrees with the Sharemaestro trend backdrop.
The tape is pricing or displaying unusually elevated activity.
Expected move or upcoming earnings makes the setup more event-sensitive.
Underlying price is close to the max-pain zone.
Activity Anomaly
High anomaly
Current options activity is unusually hot versus this ticker's stored history.
Volume rank100th
Volume/OI rank100th
IV rank100th
Market Context
Underlying confirmation
Close289.57
1W+2.9%
RS-4.2
Fair value-2.5%
Options pressure-15
Speculation41
Volatility81
Trend fit84
Today Versus Normal
Stored-options context
30d avg 7.0% · 1 read
0th
90d avg 7.0% · 1 read
0th
180d avg 7.0% · 1 read
0th
30d avg 0.86 · 1 read
100th
90d avg 0.86 · 1 read
100th
180d avg 0.86 · 1 read
100th
30d avg 0.22 · 1 read
100th
90d avg 0.22 · 1 read
100th
180d avg 0.22 · 1 read
100th
30d avg 0.03 · 1 read
100th
90d avg 0.03 · 1 read
100th
180d avg 0.03 · 1 read
100th
Pressure Trail
Recent pressure and volatility
29 Jul 10:05
Volatility
Pressure 71
Move 7.0%
30 Jul 00:58
Volatility
Pressure -15
Move 6.4%
Strike Map
Where activity is clustering
Strike185.00
Calls · V 0 · OI 1
Puts · V 0 · OI 3
Strike190.00
Calls · V 0 · OI 4
Puts · V 0 · OI 5
Strike195.00
Calls · V 0 · OI 5
Puts · V 0 · OI 4
Strike200.00
Calls · V 0 · OI 5
Puts · V 0 · OI 3
Strike205.00
Calls · V 0 · OI 4
Puts · V 0 · OI 5
Strike210.00
Calls · V 0 · OI 4
Puts · V 0 · OI 2
Strike215.00
Calls · V 0 · OI 2
Puts · V 0 · OI 4
Strike220.00
Calls · V 0 · OI 4
Puts · V 0 · OI 2
Term Structure
Expiration activity
Expiry31 Jul 2026
Contracts108
Avg IV1.04
Put-call0.99
Expiry7 Aug 2026
Contracts108
Avg IV0.59
Put-call0.53
Expiry14 Aug 2026
Contracts106
Avg IV0.46
Put-call0.42
Expiry21 Aug 2026
Contracts112
Avg IV0.42
Put-call1.27
Expiry28 Aug 2026
Contracts86
Avg IV0.40
Put-call4.00
Skew
Call/put IV balance
31 Jul 2026Balanced skew
Call IV1.00
Put IV1.00
Skew-
7 Aug 2026Balanced skew
Call IV0.56
Put IV0.56
Skew-
14 Aug 2026Balanced skew
Call IV0.44
Put IV0.44
Skew-
21 Aug 2026Balanced skew
Call IV0.41
Put IV0.41
Skew-
28 Aug 2026Balanced skew
Call IV0.38
Put IV0.39
Skew0.01
Contract Tape
Most active contracts
ContractCI260731C00310000
SideCall
Expiry31 Jul 2026
Strike310.00
Volume759
OI118
IV1.00
ContractCI260731P00280000
SidePut
Expiry31 Jul 2026
Strike280.00
Volume700
OI73
IV0.99
ContractCI261016P00250000
SidePut
Expiry16 Oct 2026
Strike250.00
Volume200
OI1244
IV0.37
ContractCI261016P00260000
SidePut
Expiry16 Oct 2026
Strike260.00
Volume170
OI470
IV0.36
ContractCI260731P00285000
SidePut
Expiry31 Jul 2026
Strike285.00
Volume163
OI363
IV1.07
ContractCI260918P00260000
SidePut
Expiry18 Sep 2026
Strike260.00
Volume138
OI305
IV0.39
ContractCI260918P00280000
SidePut
Expiry18 Sep 2026
Strike280.00
Volume131
OI420
IV0.37
ContractCI260918P00270000
SidePut
Expiry18 Sep 2026
Strike270.00
Volume107
OI1236
IV0.37
Research Graph
Related research and context
Sharemaestro research
Related News
No recent ticker-specific news yet.
Market Watch
No recent market-watch posts yet.
Earnings
Plain English Guide
Options context
What usually looks constructive
What usually looks cautious
Options can move quickly and can lose value fast. Treat this as research context, not a buy or sell instruction.