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 24 extraordinary options activities for Citigroup. This level of activity is out of the ordinary.
The general mood among these heavyweight investors is divided, with 66% leaning bullish and 29% bearish. Among these notable options, 4 are puts, totaling $161,279, and 20 are calls, amounting to $842,708.
Predicted Price Range
Taking into account the Volume and Open Interest on these contracts, it appears that whales have been targeting a price range from $40.0 to $75.0 for Citigroup over the last 3 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 $40.0 to $75.0 in the last 30 days.
Citigroup 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 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| C | CALL | TRADE | BEARISH | 07/17/26 | $5.75 | $5.5 | $5.6 | $75.00 | $95.1K | 5.7K | 0 |
| C | CALL | SWEEP | BULLISH | 01/16/26 | $8.15 | $8.05 | $8.15 | $65.00 | $66.0K | 3.7K | 85 |
| C | CALL | SWEEP | BEARISH | 11/15/24 | $2.07 | $2.04 | $2.05 | $64.00 | $57.1K | 5.3K | 551 |
| C | CALL | SWEEP | BULLISH | 11/08/24 | $1.06 | $1.04 | $1.06 | $66.00 | $53.4K | 1.2K | 568 |
| C | CALL | SWEEP | BULLISH | 11/01/24 | $1.06 | $1.02 | $1.06 | $64.00 | $53.0K | 9.3K | 3.0K |
About Citigroup
Citigroup is a global financial-services company doing business in more than 100 countries and jurisdictions. Citigroup's operations are organized into five primary segments: services, markets, banking, US personal banking, and wealth management. 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.
After a thorough review of the options trading surrounding Citigroup, we move to examine the company in more detail. This includes an assessment of its current market status and performance.
Citigroup's Current Market Status
- With a volume of 5,650,616, the price of C is down -0.12% at $64.61.
- RSI indicators hint that the underlying stock may be approaching overbought.
- Next earnings are expected to be released in 77 days.
What Analysts Are Saying About Citigroup
A total of 5 professional analysts have given their take on this stock in the last 30 days, setting an average price target of $79.8.
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20-year pro options trader reveals his one-line chart technique that shows when to buy and sell. Copy his trades, which have had averaged a 27% profit every 20 days. Click here for access. * Maintaining their stance, an analyst from Oppenheimer continues to hold a Outperform rating for Citigroup, targeting a price of $92. * An analyst from Morgan Stanley has decided to maintain their Overweight rating on Citigroup, which currently sits at a price target of $82. * An analyst from Oppenheimer has decided to maintain their Outperform rating on Citigroup, which currently sits at a price target of $91. * An analyst from Evercore ISI Group has decided to maintain their In-Line rating on Citigroup, which currently sits at a price target of $64. * An analyst from Barclays has decided to maintain their Equal-Weight rating on Citigroup, which currently sits at a price target of $70.
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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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