Investors with a lot of money to spend have taken a bullish stance on Citigroup C.
And retail traders should know.
We noticed this today when the positions 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.
Today, Benzinga's options scanner spotted 31 options trades for Citigroup.
This isn't normal.
The overall sentiment of these big-money traders is split between 54% bullish and 45%, bearish.
Out of all of the options we uncovered, there was 1 put, for a total amount of $146,000, and 30, calls, for a total amount of $2,887,617.
What's The Price Target?
Analyzing the Volume and Open Interest in these contracts, it seems that the big players have been eyeing a price window from $35.0 to $50.0 for Citigroup during the past quarter.
Analyzing Volume & Open Interest
In terms of liquidity and interest, the mean open interest for Citigroup options trades today is 17949.42 with a total volume of 34,091.00.
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 $35.0 to $50.0 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 | BEARISH | 03/15/24 | $41.00 | $267.5K | 8.9K | 2.8K |
| C | CALL | TRADE | NEUTRAL | 03/15/24 | $41.00 | $265.0K | 8.9K | 1.8K |
| C | CALL | TRADE | NEUTRAL | 03/15/24 | $41.00 | $265.0K | 8.9K | 800 |
| C | CALL | TRADE | NEUTRAL | 03/15/24 | $41.00 | $265.0K | 8.9K | 800 |
| C | CALL | SWEEP | BEARISH | 01/19/24 | $41.00 | $240.0K | 16.7K | 500 |
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.
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
- Trading volume stands at 2,824,346, with C's price down by -0.77%, positioned at $44.88.
- RSI indicators show the stock to be may be overbought.
- Earnings announcement expected in 46 days.
Expert Opinions on Citigroup
Over the past month, 1 industry analysts have shared their insights on this stock, proposing an average target price of $85.0.
- Maintaining their stance, an analyst from Oppenheimer continues to hold a Outperform rating for Citigroup, targeting a price of $85.
Trading options involves greater risks but also offers the potential for higher profits. Savvy traders mitigate these risks through ongoing education, strategic trade adjustments, utilizing various indicators, and staying attuned to market dynamics. Keep up with the latest options trades for Citigroup with Benzinga Pro for real-time alerts.
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