27% profits every 20 days?
This is what Nic Chahine averages with his options buys. Not selling covered calls or spreads... BUYING options. Most traders don't even have a winning percentage of 27% buying options. He has an 83% win rate. Here's how he does it.
A whale with a lot of money to spend has taken a noticeably bullish stance on Citigroup.
Looking at options history for Citigroup (NYSE:C) we detected 10 strange trades.
If we consider the specifics of each trade, it is accurate to state that 60% of the investors opened trades with bullish expectations and 40% with bearish.
From the overall spotted trades, 4 are puts, for a total amount of $204,791 and 6, calls, for a total amount of $424,542.
What's The Price Target?
Taking into account the Volume and Open Interest on these contracts, it appears that whales have been targeting a price range from $32.5 to $47.5 for Citigroup over the last 3 months.
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 $32.5 to $47.5 in the last 30 days.
Citigroup Option Volume And Open Interest Over Last 30 Days
Biggest Options Spotted:
| Symbol | PUT/CALL | Trade Type | Sentiment | Exp. Date | Strike Price | Total Trade Price | Open Interest | Volume |
|---|---|---|---|---|---|---|---|---|
| C | CALL | SWEEP | BEARISH | 06/21/24 | $40.00 | $111.7K | 2.5K | 720 |
| C | CALL | SWEEP | BEARISH | 06/21/24 | $40.00 | $110.4K | 2.5K | 307 |
| C | PUT | SWEEP | BULLISH | 06/21/24 | $35.00 | $76.2K | 13.2K | 397 |
| C | CALL | TRADE | BULLISH | 06/21/24 | $42.50 | $73.0K | 3.7K | 575 |
| C | CALL | TRADE | BULLISH | 06/21/24 | $42.50 | $72.5K | 3.7K | 325 |
Where Is Citigroup Standing Right Now?
- With a volume of 4,138,181, the price of C is down -0.91% at $40.2.
- RSI indicators hint that the underlying stock is currently neutral between overbought and oversold.
- Next earnings are expected to be released in 4 days.
What The Experts Say On Citigroup:
- RBC Capital has decided to maintain their Outperform rating on Citigroup, which currently sits at a price target of $47.
- Piper Sandler has decided to maintain their Neutral rating on Citigroup, which currently sits at a price target of $47.
- Goldman Sachs has decided to maintain their Neutral rating on Citigroup, which currently sits at a price target of $41.
- Oppenheimer has decided to maintain their Outperform rating on Citigroup, which currently sits at a price target of $81.
- Morgan Stanley has decided to maintain their Underweight rating on Citigroup, which currently sits at a price target of $43.
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.
If you want to stay updated on the latest options trades for Citigroup, Benzinga Pro gives you real-time options trades alerts.
27% profits every 20 days?
This is what Nic Chahine averages with his options buys. Not selling covered calls or spreads... BUYING options. Most traders don't even have a winning percentage of 27% buying options. He has an 83% win rate. Here's how he does it.
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