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Trade of the Day: Cigna (CI)

Cigna is showing a re-energized bullish trend

   

Cigna (NYSE:CI) has confirmed its upward trend after a temporary pullback. Such a bounceback is one of the most reliable buy signals, but you can also put your money to work with options to control more shares for less money.

5 7 13 ci1 Trade of the Day: Cigna (CI)

Cigna also showed signs of being one of the few stocks every week that give signals strong enough to make them a candidate for profitable options trading. I’ve looked through the list of Power Stocks and picked out the most volatile and liquid trades.I’ve also taken stock price movement and theoretical option values into account, which yielded today’s trade of the day.


Recommendation
: Buy CI June 70 Call options at $1.30 or lower. After entry, take profits if the stock price hits $71.60  or the option price reaches $3.10. Exit if the stock price closes below $66.30 or the option price falls to 70 cents.

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