Large Ratio Call Spread in Citigroup
Citigroup, Inc. (NYSE: C) shares were trading around four percent higher Friday morning, following a stronger than expected jobs report.
During the first hour of trading, a large one by two call spread in the September expiry pushed Citigroup to the top of the most active equity option list. The September 31 calls saw 18,750 contracts trade on the bid of $0.23. Also, September 35 calls were purchased 37,500 times on the offer of $0.04.
Open interest in both strike dates was large enough to cover Friday morning's activity. So, Friday's spread could be a closing transaction following a rise in Citigroup's share price.
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