Buying CI call contracts.

The market is shrugging off a hot inflation number.

And with this strength, we may be in the early stages of a more powerful bear market rally (or even a successful retest of the lows).

Cigna Corp. (CI) is a pharmacy benefit company with some very big customers including the Department of Defense.

While some investors will certainly move back into speculative stocks in the next rally, many are now allocating more capital to value plays like CI.

The stock is near an all-time high and likely to break out of a sideways consolidation from the last several weeks.

Our in-the-money call contracts will allow us to participate if the stock continues higher, while muting our risk if shares pull back.