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 9 uncommon options trades for Citigroup.
This isn't normal.
The overall sentiment of these big-money traders is split between 44% bullish and 55%, bearish.
Out of all of the special options we uncovered, 5 are puts, for a total amount of $457,660, and 4 are calls, for a total amount of $619,198.
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 $40.0 and $55.0 for Citigroup, spanning the last three months.
Volume & Open Interest Development
Looking at the volume and open interest is a powerful move while trading options. 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 trades within a strike price range from $40.0 to $55.0 in the last 30 days.
Citigroup Option Activity Analysis: Last 30 Days
Noteworthy Options Activity:
| Symbol | PUT/CALL | Trade Type | Sentiment | Exp. Date | Strike Price | Total Trade Price | Open Interest | Volume |
|---|---|---|---|---|---|---|---|---|
| C | CALL | SWEEP | BEARISH | 01/19/24 | $47.50 | $361.9K | 57.9K | 4.1K |
| C | PUT | TRADE | BEARISH | 01/16/26 | $55.00 | $194.8K | 38 | 32 |
| C | PUT | SWEEP | BULLISH | 01/19/24 | $41.00 | $160.6K | 18.6K | 6.3K |
| C | CALL | TRADE | BULLISH | 03/15/24 | $46.00 | $109.6K | 8.7K | 422 |
| C | CALL | SWEEP | BEARISH | 01/19/24 | $47.50 | $103.0K | 57.9K | 801 |
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.
Citigroup's Current Market Status
- Trading volume stands at 623,916, with C's price down by -0.22%, positioned at $46.0.
- RSI indicators show the stock to be may be overbought.
- Earnings announcement expected in 42 days.
What The Experts Say On Citigroup
Over the past month, 2 industry analysts have shared their insights on this stock, proposing an average target price of $66.0.
- Maintaining their stance, an analyst from Goldman Sachs continues to hold a Neutral rating for Citigroup, targeting a price of $47.
- Maintaining their stance, an analyst from Oppenheimer continues to hold a Outperform rating for Citigroup, targeting a price of $85.
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.
Comments
Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.
