Deep-pocketed investors have adopted a bearish 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 26 extraordinary options activities for Citigroup. This level of activity is out of the ordinary.
The general mood among these heavyweight investors is divided, with 34% leaning bullish and 57% bearish. Among these notable options, 2 are puts, totaling $122,889, and 24 are calls, amounting to $2,137,104.
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 $60.0 and $70.0 for Citigroup, spanning the last three months.
Volume & Open Interest Trends
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 $60.0 to $70.0, over the past month.
Citigroup Option Activity Analysis: Last 30 Days
Significant Options Trades Detected:
| Symbol | PUT/CALL | Trade Type | Sentiment | Exp. Date | Ask | Bid | Price | Strike Price | Total Trade Price | Open Interest | Volume |
|---|---|---|---|---|---|---|---|---|---|---|---|
| C | CALL | SWEEP | BULLISH | 03/21/25 | $2.13 | $2.1 | $2.12 | $70.00 | $424.2K | 11.1K | 3.8K |
| C | CALL | TRADE | BEARISH | 11/15/24 | $4.25 | $4.1 | $4.1 | $60.00 | $143.4K | 7.2K | 870 |
| C | CALL | SWEEP | BEARISH | 11/08/24 | $1.59 | $1.5 | $1.5 | $63.00 | $116.7K | 5.9K | 267 |
| C | CALL | SWEEP | BULLISH | 03/21/25 | $2.09 | $2.08 | $2.08 | $70.00 | $115.6K | 11.1K | 576 |
| C | CALL | SWEEP | BEARISH | 11/08/24 | $1.52 | $1.5 | $1.5 | $63.00 | $105.3K | 5.9K | 2.8K |
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.
Present Market Standing of Citigroup
- With a trading volume of 624,687, the price of C is up by 1.47%, reaching $63.27.
- Current RSI values indicate that the stock is may be approaching overbought.
- Next earnings report is scheduled for 71 days from now.
What The Experts Say On Citigroup
In the last month, 5 experts released ratings on this stock with an average target price of $77.0.
Unusual Options Activity Detected: Smart Money on the Move
Benzinga Edge's Unusual Options board spots potential market movers before they happen. See what positions big money is taking on your favorite stocks. Click here for access. * Maintaining their stance, an analyst from Morgan Stanley continues to hold a Overweight rating for Citigroup, targeting a price of $82. * Consistent in their evaluation, an analyst from Barclays keeps a Equal-Weight rating on Citigroup with a target price of $70. * 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 persists with their In-Line rating on Citigroup, maintaining a target price of $64. * An analyst from B of A Securities has decided to maintain their Buy rating on Citigroup, which currently sits at a price target of $78.
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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