High-rolling investors have positioned themselves bullish on Citigroup (NYSE:C), and it's important for retail traders to take note.\This activity came to our attention today through Benzinga's tracking of publicly available options data. The identities of these investors are uncertain, but such a significant move in C often signals that someone has privileged information.
Today, Benzinga's options scanner spotted 10 options trades for Citigroup. This is not a typical pattern.
The sentiment among these major traders is split, with 60% bullish and 30% bearish. Among all the options we identified, there was one put, amounting to $48,440, and 9 calls, totaling $479,055.
Expected Price Movements
After evaluating the trading volumes and Open Interest, it's evident that the major market movers are focusing on a price band between $22.5 and $65.0 for Citigroup, spanning the last three months.
Volume & Open Interest Development
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 $22.5 to $65.0, over the past month.
Citigroup Option Activity Analysis: Last 30 Days
Significant Options Trades Detected:
| Symbol | PUT/CALL | Trade Type | Sentiment | Exp. Date | Ask | Bid | Price | Strike Price | Total Trade Price | Open Interest | Volume |
|---|---|---|---|---|---|---|---|---|---|---|---|
| C | CALL | TRADE | BULLISH | 07/19/24 | $3.35 | $3.3 | $3.35 | $62.50 | $117.2K | 9.9K | 9 |
| C | CALL | TRADE | BULLISH | 09/20/24 | $10.4 | $10.3 | $10.36 | $55.00 | $103.6K | 13.3K | 101 |
| C | CALL | TRADE | BULLISH | 01/17/25 | $41.9 | $41.5 | $41.75 | $22.50 | $83.5K | 32 | 23 |
| C | PUT | SWEEP | BEARISH | 07/19/24 | $2.8 | $2.77 | $2.8 | $65.00 | $48.4K | 2.3K | 173 |
| C | CALL | TRADE | BULLISH | 01/17/25 | $34.15 | $33.9 | $34.15 | $30.00 | $34.1K | 645 | 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.
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
- Currently trading with a volume of 2,082,387, the C's price is up by 1.47%, now at $64.09.
- RSI readings suggest the stock is currently may be approaching overbought.
- Anticipated earnings release is in 52 days.
Expert Opinions on Citigroup
In the last month, 1 experts released ratings on this stock with an average target price of $86.0.
- Consistent in their evaluation, an analyst from Oppenheimer keeps a Outperform rating on Citigroup with a target price of $86.
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.