Citigroup Unusual Options Activity For May 09

Investors with a lot of money to spend have taken a bullish 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 8 uncommon options trades for Citigroup.

This isn't normal.

The overall sentiment of these big-money traders is split between 37% bullish and 37%, bearish.

Out of all of the special options we uncovered, 2 are puts, for a total amount of $75,715, and 6 are calls, for a total amount of $224,122.

Projected Price Targets

Based on the trading activity, it appears that the significant investors are aiming for a price territory stretching from $60.0 to $67.5 for Citigroup over the recent three months.

Volume & Open Interest Development

In terms of liquidity and interest, the mean open interest for Citigroup options trades today is 18316.33 with a total volume of 30,693.00.

In the following chart, we are able to follow the development of volume and open interest of call and put options for Citigroup's big money trades within a strike price range of $60.0 to $67.5 over the last 30 days.

Citigroup Call and Put Volume: 30-Day Overview

Noteworthy Options Activity:

Symbol PUT/CALL Trade Type Sentiment Exp. Date Ask Bid Price Strike Price Total Trade Price Open Interest Volume
C CALL SWEEP NEUTRAL 09/20/24 $5.95 $5.85 $5.91 $60.00 $59.0K 23.3K 101
C PUT SWEEP BEARISH 07/19/24 $5.5 $5.45 $5.5 $67.50 $49.4K 344 107
C CALL TRADE BULLISH 05/17/24 $1.19 $1.17 $1.19 $62.50 $37.2K 41.9K 1.6K
C CALL SWEEP BULLISH 05/10/24 $0.59 $0.58 $0.59 $63.00 $36.3K 22.3K 12.6K
C CALL SWEEP BULLISH 05/17/24 $1.03 $0.99 $1.03 $63.00 $32.9K 4.2K 1.8K

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.

After a thorough review of the options trading surrounding Citigroup, we move to examine the company in more detail. This includes an assessment of its current market status and performance.

Where Is Citigroup Standing Right Now?

  • Currently trading with a volume of 1,489,341, the C's price is up by 0.33%, now at $62.96.
  • RSI readings suggest the stock is currently may be approaching overbought.
  • Anticipated earnings release is in 64 days.

Expert Opinions on Citigroup

Over the past month, 3 industry analysts have shared their insights on this stock, proposing an average target price of $81.0.

  • An analyst from Piper Sandler has decided to maintain their Overweight rating on Citigroup, which currently sits at a price target of $70.
  • An analyst from Oppenheimer has decided to maintain their Outperform rating on Citigroup, which currently sits at a price target of $86.
  • An analyst from Oppenheimer persists with their Outperform rating on Citigroup, maintaining a target price of $87.

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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