Deep-pocketed investors have adopted a bearish approach towards Citigroup (NYSE: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 8 extraordinary options activities for Citigroup. This level of activity is out of the ordinary.
The general mood among these heavyweight investors is divided, with 12% leaning bullish and 87% bearish. Among these notable options, 3 are puts, totaling $132,342, and 5 are calls, amounting to $220,820.
Projected Price Targets
Based on the trading activity, it appears that the significant investors are aiming for a price territory stretching from $55.0 to $67.5 for Citigroup over the recent three months.
Analyzing Volume & Open Interest
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 $55.0 to $67.5, over the past month.
Citigroup Option Volume And Open Interest Over Last 30 Days
Biggest Options Spotted:
| Symbol | PUT/CALL | Trade Type | Sentiment | Exp. Date | Ask | Bid | Price | Strike Price | Total Trade Price | Open Interest | Volume |
|---|---|---|---|---|---|---|---|---|---|---|---|
| C | CALL | SWEEP | BEARISH | 10/18/24 | $1.44 | $1.41 | $1.41 | $62.50 | $83.1K | 28.1K | 948 |
| C | PUT | SWEEP | BEARISH | 07/17/26 | $9.0 | $8.35 | $9.0 | $62.50 | $62.8K | 334 | 0 |
| C | CALL | SWEEP | BEARISH | 01/16/26 | $9.95 | $9.9 | $9.9 | $57.50 | $46.5K | 3.2K | 49 |
| C | PUT | TRADE | BEARISH | 01/16/26 | $10.3 | $10.05 | $10.3 | $67.50 | $42.2K | 760 | 0 |
| C | CALL | SWEEP | BEARISH | 10/18/24 | $1.68 | $1.63 | $1.63 | $62.50 | $32.6K | 28.1K | 337 |
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.
Following our analysis of the options activities associated with Citigroup, we pivot to a closer look at the company's own performance.
Current Position of Citigroup
- With a volume of 3,096,905, the price of C is down -1.76% at $61.5.
- RSI indicators hint that the underlying stock is currently neutral between overbought and oversold.
- Next earnings are expected to be released in 14 days.
Expert Opinions on Citigroup
In the last month, 2 experts released ratings on this stock with an average target price of $78.5.
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 $86. * Maintaining their stance, an analyst from Goldman Sachs continues to hold a Buy rating for Citigroup, targeting a price of $71.
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.
