Spotlight on Citigroup: Analyzing the Surge in Options Activity

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 21 extraordinary options activities for Citigroup. This level of activity is out of the ordinary.

The general mood among these heavyweight investors is divided, with 47% leaning bullish and 42% bearish. Among these notable options, 11 are puts, totaling $2,420,705, and 10 are calls, amounting to $425,416.

Expected Price Movements

Analyzing the Volume and Open Interest in these contracts, it seems that the big players have been eyeing a price window from $30.0 to $80.0 for Citigroup during the past quarter.

Volume & Open Interest Development

In terms of liquidity and interest, the mean open interest for Citigroup options trades today is 5299.18 with a total volume of 10,537.00.

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 $30.0 to $80.0 over the last 30 days.

Citigroup 30-Day Option Volume & Interest Snapshot

Largest Options Trades Observed:

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.

Citigroup's Current Market Status

• With a trading volume of 4,133,447, the price of C is up by 0.91%, reaching $70.67.
• Current RSI values indicate that the stock is may be overbought.
• Next earnings report is scheduled for 67 days from now.

Professional Analyst Ratings for Citigroup

A total of 5 professional analysts have given their take on this stock in the last 30 days, setting an average price target of $84.0.

Unusual Options Activity Detected: Smart Money on the Move

Benzinga Edge's Unusual Options board spots potential market movers before they happen. See what positions big money is taking on your favorite stocks. Click here for access. * Consistent in their evaluation, an analyst from RBC Capital keeps a Outperform rating on Citigroup with a target price of $78. * An analyst from Truist Securities persists with their Buy rating on Citigroup, maintaining a target price of $79. * An analyst from Piper Sandler has revised its rating downward to Overweight, adjusting the price target to $77. * An analyst from Oppenheimer persists with their Outperform rating on Citigroup, maintaining a target price of $94. * An analyst from Keefe, Bruyette & Woods downgraded its action to Outperform with a price target of $92.

Options trading presents higher risks and potential rewards. Astute traders manage these risks by continually educating themselves, adapting their strategies, monitoring multiple indicators, and keeping a close eye on market movements. Stay informed about the latest Citigroup options trades with real-time alerts from Benzinga Pro.