Investors with a lot of money to spend have taken a bullish stance on Citigroup C.
And retail traders should know.
We noticed this today when the trades showed up on publicly available options history that we track here at Benzinga.
Whether these are institutions or just wealthy individuals, we don't know. But when something this big happens with C, it often means somebody knows something is about to happen.
So how do we know what these investors just did?
Today, Benzinga's options scanner spotted 30 uncommon options trades for Citigroup.
This isn't normal.
The overall sentiment of these big-money traders is split between 53% bullish and 46%, bearish.
Out of all of the special options we uncovered, 7 are puts, for a total amount of $430,003, and 23 are calls, for a total amount of $1,364,892.
Predicted Price Range
Based on the trading activity, it appears that the significant investors are aiming for a price territory stretching from $40.0 to $70.0 for Citigroup over the recent three months.
Volume & Open Interest Development
Examining the volume and open interest provides crucial insights into stock research. This information is key in gauging liquidity and interest levels for Citigroup's options at certain strike prices. Below, we present a snapshot of the trends in volume and open interest for calls and puts across Citigroup's significant trades, within a strike price range of $40.0 to $70.0, over the past month.
Citigroup Call and Put Volume: 30-Day Overview
Largest Options Trades Observed:
| Symbol | PUT/CALL | Trade Type | Sentiment | Exp. Date | Strike Price | Total Trade Price | Open Interest | Volume |
|---|---|---|---|---|---|---|---|---|
| C | CALL | SWEEP | NEUTRAL | 06/21/24 | $40.00 | $147.0K | 3.9K | 100 |
| C | CALL | SWEEP | BEARISH | 03/15/24 | $57.50 | $144.0K | 30.3K | 2.2K |
| C | CALL | TRADE | NEUTRAL | 03/15/24 | $55.00 | $144.0K | 78.3K | 3.3K |
| C | PUT | SWEEP | BEARISH | 01/17/25 | $55.00 | $115.0K | 13.5K | 85 |
| C | CALL | SWEEP | BULLISH | 06/21/24 | $55.00 | $103.5K | 35.2K | 620 |
About Citigroup
Citigroup is a global financial-services company doing business in more than 100 countries and jurisdictions. Citigroup's operations are organized into two primary segments: the institutional clients group and the personal banking and wealth-management group. The bank's primary services include cross-border banking needs for multinational corporates, investment banking and trading, and credit card services in the United States.
Where Is Citigroup Standing Right Now?
- With a trading volume of 9,293,739, the price of C is down by -0.09%, reaching $54.45.
- Current RSI values indicate that the stock is may be approaching overbought.
- Next earnings report is scheduled for 66 days from now.
Options are a riskier asset compared to just trading the stock, but they have higher profit potential. Serious options traders manage this risk by educating themselves daily, scaling in and out of trades, following more than one indicator, and following the markets closely.
If you want to stay updated on the latest options trades for Citigroup, Benzinga Pro gives you real-time options trades alerts.
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
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