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 21 extraordinary options activities for Citigroup. This level of activity is out of the ordinary.
The general mood among these heavyweight investors is divided, with 71% leaning bullish and 23% bearish. Among these notable options, 4 are puts, totaling $1,062,686, and 17 are calls, amounting to $855,772.
Predicted Price Range
Analyzing the Volume and Open Interest in these contracts, it seems that the big players have been eyeing a price window from $40.0 to $70.0 for Citigroup during the past quarter.
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 $70.0 in the last 30 days.
Citigroup Option Activity Analysis: Last 30 Days
Largest Options Trades Observed:
| Symbol | PUT/CALL | Trade Type | Sentiment | Exp. Date | Ask | Bid | Price | Strike Price | Total Trade Price | Open Interest | Volume |
|---|---|---|---|---|---|---|---|---|---|---|---|
| C | PUT | TRADE | BULLISH | 03/21/25 | $6.7 | $6.6 | $6.6 | $67.50 | $924.0K | 288 | 1.4K |
| C | CALL | SWEEP | BEARISH | 10/18/24 | $3.1 | $3.05 | $3.05 | $65.00 | $152.5K | 10.1K | 516 |
| C | CALL | SWEEP | BEARISH | 10/18/24 | $1.94 | $1.92 | $1.92 | $67.50 | $96.0K | 8.1K | 502 |
| C | PUT | SWEEP | BEARISH | 08/16/24 | $1.29 | $1.28 | $1.29 | $64.00 | $65.6K | 1.2K | 24 |
| C | CALL | TRADE | BULLISH | 01/17/25 | $24.6 | $24.45 | $24.6 | $40.00 | $49.2K | 8.2K | 20 |
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.
Citigroup's Current Market Status
- Currently trading with a volume of 2,893,388, the C's price is down by -1.43%, now at $64.25.
- RSI readings suggest the stock is currently is currently neutral between overbought and oversold.
- Anticipated earnings release is in 74 days.
Expert Opinions on Citigroup
5 market experts have recently issued ratings for this stock, with a consensus target price of $70.6.
- An analyst from Morgan Stanley persists with their Overweight rating on Citigroup, maintaining a target price of $66.
- Consistent in their evaluation, an analyst from Evercore ISI Group keeps a In-Line rating on Citigroup with a target price of $62.
- Consistent in their evaluation, an analyst from Oppenheimer keeps a Outperform rating on Citigroup with a target price of $86.
- Maintaining their stance, an analyst from Argus Research continues to hold a Buy rating for Citigroup, targeting a price of $72.
- Maintaining their stance, an analyst from BMO Capital continues to hold a Market Perform rating for Citigroup, targeting a price of $67.
Options trading presents higher risks and potential rewards. Astute traders manage these risks by continually educating themselves, adapting their strategies, monitoring multiple indicators, and keeping a close eye on market movements. Stay informed about the latest Citigroup options trades with real-time alerts from Benzinga Pro.
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
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