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 14 extraordinary options activities for Citigroup. This level of activity is out of the ordinary.
The general mood among these heavyweight investors is divided, with 50% leaning bullish and 50% bearish. Among these notable options, 7 are puts, totaling $1,540,187, and 7 are calls, amounting to $360,336.
What's The Price Target?
After evaluating the trading volumes and Open Interest, it's evident that the major market movers are focusing on a price band between $50.0 and $70.0 for Citigroup, spanning the last three months.
Volume & Open Interest Trends
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 $50.0 to $70.0 in the last 30 days.
Citigroup 30-Day Option Volume & Interest Snapshot
Significant Options Trades Detected:
| Symbol | PUT/CALL | Trade Type | Sentiment | Exp. Date | Ask | Bid | Price | Strike Price | Total Trade Price | Open Interest | Volume |
|---|---|---|---|---|---|---|---|---|---|---|---|
| C | PUT | TRADE | BEARISH | 06/21/24 | $1.32 | $1.29 | $1.31 | $55.00 | $655.0K | 23.2K | 52 |
| C | PUT | TRADE | BEARISH | 12/20/24 | $3.5 | $3.4 | $3.46 | $55.00 | $346.0K | 1.2K | 0 |
| C | PUT | TRADE | BULLISH | 05/17/24 | $0.71 | $0.7 | $0.7 | $55.00 | $280.0K | 28.3K | 4.0K |
| C | PUT | TRADE | BULLISH | 10/18/24 | $1.37 | $1.34 | $1.34 | $50.00 | $100.5K | 1.2K | 0 |
| C | CALL | SWEEP | NEUTRAL | 09/20/24 | $9.25 | $9.15 | $9.18 | $50.00 | $91.9K | 7.2K | 51 |
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.
Where Is Citigroup Standing Right Now?
- With a trading volume of 4,584,825, the price of C is up by 2.1%, reaching $58.22.
- Current RSI values indicate that the stock is is currently neutral between overbought and oversold.
- Next earnings report is scheduled for 86 days from now.
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.
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
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