Investors with a lot of money to spend have taken a bullish stance on Citizens Financial Group CFG.
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 this is an institution or just a wealthy individual, we don't know. But when something this big happens with CFG, it often means somebody knows something is about to happen.
Today, Benzinga's options scanner spotted 8 options trades for Citizens Financial Group.
This isn't normal.
The overall sentiment of these big-money traders is split between 62% bullish and 25%, bearish.
Out of all of the options we uncovered, 7 are puts, for a total amount of $558,129, and there was 1 call, for a total amount of $62,000.
Projected Price Targets
After evaluating the trading volumes and Open Interest, it's evident that the major market movers are focusing on a price band between $30.0 and $37.5 for Citizens Financial Group, spanning the last three months.
Analyzing Volume & Open Interest
In today's trading context, the average open interest for options of Citizens Financial Group stands at 3242.33, with a total volume reaching 7,701.00. The accompanying chart delineates the progression of both call and put option volume and open interest for high-value trades in Citizens Financial Group, situated within the strike price corridor from $30.0 to $37.5, throughout the last 30 days.
Citizens Financial Group 30-Day Option Volume & Interest Snapshot
Noteworthy Options Activity:
| Symbol | PUT/CALL | Trade Type | Sentiment | Exp. Date | Ask | Bid | Price | Strike Price | Total Trade Price | Open Interest | Volume |
|---|---|---|---|---|---|---|---|---|---|---|---|
| CFG | PUT | SWEEP | BULLISH | 10/18/24 | $2.15 | $2.1 | $2.1 | $35.00 | $136.9K | 75 | 816 |
| CFG | PUT | TRADE | BULLISH | 10/18/24 | $2.2 | $2.05 | $2.1 | $35.00 | $112.5K | 75 | 2.5K |
| CFG | PUT | TRADE | NEUTRAL | 10/18/24 | $2.15 | $2.05 | $2.1 | $35.00 | $105.0K | 75 | 2.0K |
| CFG | CALL | TRADE | BULLISH | 08/16/24 | $0.65 | $0.55 | $0.62 | $37.50 | $62.0K | 3.4K | 45 |
| CFG | PUT | SWEEP | BULLISH | 10/18/24 | $2.15 | $2.05 | $2.1 | $35.00 | $61.5K | 75 | 816 |
About Citizens Financial Group
Citizens Financial Group is a bank holding company headquartered in Providence, Rhode Island. Its two primary business segments are consumer banking and commercial banking. Citizens offers a mix of retail and commercial products including capital markets and wealth options. The bank has over 1,100 branches in 14 states, although it is concentrated in the Northeast. It has over $220 billion of total assets. It generates maximum revenue from Consumer Banking Segment.
After a thorough review of the options trading surrounding Citizens Financial Group, we move to examine the company in more detail. This includes an assessment of its current market status and performance.
Where Is Citizens Financial Group Standing Right Now?
- Currently trading with a volume of 1,714,523, the CFG's price is down by -0.75%, now at $35.12.
- RSI readings suggest the stock is currently may be approaching overbought.
- Anticipated earnings release is in 22 days.
Professional Analyst Ratings for Citizens Financial Group
In the last month, 2 experts released ratings on this stock with an average target price of $38.5.
- Consistent in their evaluation, an analyst from Evercore ISI Group keeps a In-Line rating on Citizens Financial Group with a target price of $39.
- Maintaining their stance, an analyst from Morgan Stanley continues to hold a Equal-Weight rating for Citizens Financial Group, targeting a price of $38.
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 Citizens Financial Group options trades with real-time alerts from Benzinga Pro.
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
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