This Is What Whales Are Betting On Citigroup

Investors with a lot of money to spend have taken a bearish 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 43 uncommon options trades for Citigroup.

This isn't normal.

The overall sentiment of these big-money traders is split between 41% bullish and 58%, bearish.

Out of all of the special options we uncovered, 8 are puts, for a total amount of $428,130, and 35 are calls, for a total amount of $5,674,571.

Expected Price Movements

Taking into account the Volume and Open Interest on these contracts, it appears that whales have been targeting a price range from $30.0 to $75.0 for Citigroup over the last 3 months.

Analyzing Volume & Open Interest

In terms of liquidity and interest, the mean open interest for Citigroup options trades today is 16561.87 with a total volume of 51,108.00.

In the following chart, we are able to follow the development of volume and open interest of call and put options for Citigroup's big money trades within a strike price range of $30.0 to $75.0 over the last 30 days.

Citigroup 30-Day Option Volume & Interest Snapshot

Biggest Options Spotted:

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.

Having examined the options trading patterns of Citigroup, our attention now turns directly to the company. This shift allows us to delve into its present market position and performance

Citigroup's Current Market Status

• Trading volume stands at 7,689,234, with C's price up by 1.39%, positioned at $58.41.
• RSI indicators show the stock to be is currently neutral between overbought and oversold.
• Earnings announcement expected in 25 days.

Expert Opinions on Citigroup

2 market experts have recently issued ratings for this stock, with a consensus target price of $68.0.

• Maintaining their stance, an analyst from Goldman Sachs continues to hold a Buy rating for Citigroup, targeting a price of $68.
• Showing optimism, an analyst from Goldman Sachs upgrades its rating to Buy with a revised price target of $68.

Options trading presents higher risks and potential rewards. Astute traders manage these risks by continually educating themselves, adapting their strategies, monitoring multiple indicators, and keeping a close eye on market movements. Stay informed about the latest Citigroup options trades with real-time alerts from Benzinga Pro.