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 52 extraordinary options activities for Citigroup. This level of activity is out of the ordinary.
The general mood among these heavyweight investors is divided, with 48% leaning bullish and 51% bearish. Among these notable options, 3 are puts, totaling $258,867, and 49 are calls, amounting to $4,502,870.
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 $57.5 for Citigroup, spanning the last three months.
Analyzing Volume & Open Interest
In terms of liquidity and interest, the mean open interest for Citigroup options trades today is 21593.0 with a total volume of 161,740.00.
In the following chart, we are able to follow the development of volume and open interest of call and put options for Citigroup's big money trades within a strike price range of $40.0 to $57.5 over the last 30 days.
Citigroup Option Volume And Open Interest Over Last 30 Days
Noteworthy Options Activity:
| Symbol | PUT/CALL | Trade Type | Sentiment | Exp. Date | Strike Price | Total Trade Price | Open Interest | Volume |
|---|---|---|---|---|---|---|---|---|
| C | CALL | TRADE | BULLISH | 12/15/23 | $46.00 | $274.1K | 28.9K | 10.4K |
| C | CALL | TRADE | BULLISH | 12/15/23 | $46.00 | $260.0K | 28.9K | 2.0K |
| C | CALL | TRADE | NEUTRAL | 12/15/23 | $46.00 | $246.0K | 28.9K | 3.0K |
| C | CALL | SWEEP | BULLISH | 12/15/23 | $46.00 | $244.0K | 28.9K | 4.0K |
| C | CALL | SWEEP | BEARISH | 12/15/23 | $46.00 | $229.0K | 28.9K | 1.0K |
About Citigroup
Citigroup is a global financial-services company doing business in more than 100 countries and jurisdictions. Citigroup's operations are organized into 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.
Present Market Standing of Citigroup
- Currently trading with a volume of 13,728,288, the C's price is up by 4.78%, now at $48.93.
- RSI readings suggest the stock is currently may be overbought.
- Anticipated earnings release is in 37 days.
Expert Opinions on Citigroup
A total of 2 professional analysts have given their take on this stock in the last 30 days, setting an average price target of $66.0.
- Maintaining their stance, an analyst from Oppenheimer continues to hold a Outperform rating for Citigroup, targeting a price of $85.
- Consistent in their evaluation, an analyst from Goldman Sachs keeps a Neutral rating on Citigroup with a target price of $47.
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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