Check Out What Whales Are Doing With Citigroup

Deep-pocketed investors have adopted a bullish approach towards Citigroup C, and it's something market players shouldn't ignore. Our tracking of public options records at Benzinga unveiled this significant move today. The identity of these investors remains unknown, but such a substantial move in C usually suggests something big is about to happen.

We gleaned this information from our observations today when Benzinga's options scanner highlighted 66 extraordinary options activities for Citigroup. This level of activity is out of the ordinary.

The general mood among these heavyweight investors is divided, with 80% leaning bullish and 19% bearish. Among these notable options, 7 are puts, totaling $422,445, and 59 are calls, amounting to $3,440,672.

Predicted Price Range

After evaluating the trading volumes and Open Interest, it's evident that the major market movers are focusing on a price band between $55.0 and $75.0 for Citigroup, spanning the last three months.

Volume & Open Interest Development

Looking at the volume and open interest is an insightful way to conduct due diligence on a stock.

This data can help you track the liquidity and interest for Citigroup's options for a given strike price.

Below, we can observe the evolution of the volume and open interest of calls and puts, respectively, for all of Citigroup's whale activity within a strike price range from $55.0 to $75.0 in the last 30 days.

Citigroup Option Activity Analysis: Last 30 Days

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.

Following our analysis of the options activities associated with Citigroup, we pivot to a closer look at the company's own performance.

Current Position of Citigroup

• With a volume of 5,734,706, the price of C is down -1.42% at $62.56.
• RSI indicators hint that the underlying stock may be overbought.
• Next earnings are expected to be released in 10 days.

Professional Analyst Ratings for Citigroup

Over the past month, 5 industry analysts have shared their insights on this stock, proposing an average target price of $76.8.

• An analyst from Goldman Sachs has elevated its stance to Buy, setting a new price target at $68.
• Maintaining their stance, an analyst from Goldman Sachs continues to hold a Buy rating for Citigroup, targeting a price of $68.
• An analyst from Wells Fargo has decided to maintain their Overweight rating on Citigroup, which currently sits at a price target of $80.
• Consistent in their evaluation, an analyst from Oppenheimer keeps a Outperform rating on Citigroup with a target price of $88.
• Consistent in their evaluation, an analyst from Wells Fargo keeps a Overweight rating on Citigroup with a target price of $80.

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.