What the Options Market Tells Us About Citigroup

Investors with a lot of money to spend have taken a bearish stance on Citigroup C.

And retail traders should know.

We noticed this today when the trades showed up on publicly available options history that we track here at Benzinga.

Whether these are institutions or just wealthy individuals, we don't know. But when something this big happens with C, it often means somebody knows something is about to happen.

So how do we know what these investors just did?

Today, Benzinga's options scanner spotted 79 uncommon options trades for Citigroup.

This isn't normal.

The overall sentiment of these big-money traders is split between 45% bullish and 54%, bearish.

Out of all of the special options we uncovered, 17 are puts, for a total amount of $667,197, and 62 are calls, for a total amount of $5,457,806.

What's The Price Target?

Based on the trading activity, it appears that the significant investors are aiming for a price territory stretching from $30.0 to $75.0 for Citigroup over the recent three months.

Insights into Volume & Open Interest

Assessing the volume and open interest is a strategic step in options trading. These metrics shed light on the liquidity and investor interest in Citigroup's options at specified strike prices. The forthcoming data visualizes the fluctuation in volume and open interest for both calls and puts, linked to Citigroup's substantial trades, within a strike price spectrum from $30.0 to $75.0 over the preceding 30 days.

Citigroup Call and Put Volume: 30-Day Overview

Significant Options Trades Detected:

Symbol PUT/CALL Trade Type Sentiment Exp. Date Strike Price Total Trade Price Open Interest Volume
C CALL SWEEP BEARISH 06/21/24 $57.50 $1.1M 37.5K 6.0K
C CALL TRADE BULLISH 12/18/26 $55.00 $360.0K 625 300
C CALL SWEEP BEARISH 03/15/24 $56.00 $194.1K 12.2K 5.7K
C CALL SWEEP BULLISH 06/21/24 $57.50 $157.5K 37.5K 7.0K
C CALL SWEEP BULLISH 06/21/24 $57.50 $157.4K 37.5K 6.5K

About Citigroup

Citigroup is a global financial-services company doing business in more than 100 countries and jurisdictions. Citigroup's operations are organized into two primary segments: the institutional clients group and the personal banking and wealth-management group. 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.

Having examined the options trading patterns of Citigroup, our attention now turns directly to the company. This shift allows us to delve into its present market position and performance

Citigroup's Current Market Status

  • Currently trading with a volume of 8,474,521, the C's price is up by 0.06%, now at $57.45.
  • RSI readings suggest the stock is currently may be overbought.
  • Anticipated earnings release is in 31 days.

Expert Opinions on Citigroup

In the last month, 1 experts released ratings on this stock with an average target price of $63.0.

  • In a positive move, an analyst from Piper Sandler has upgraded their rating to Overweight and adjusted the price target to $63.

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.

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Posted In: OptionsMarketsBZI-UOA
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