Market Overview

Andrew Keene's Citigroup Trade


AlphaShark's Andrew Keene spoke on Bloomberg Markets about his options trade in Citigroup Inc (NYSE: C).

He said that the stock is hitting 52-week lows and it is trading 30 percent off its 52-week high. Keene is a buyer of the February 65 calls in the name and the premium for the calls is $0.45. The stock traded $65 two weeks ago, but Keene is looking just for a short-term move higher. If the stock jumps to $60, he is going to close the position. He thinks that the interest rate hike is going to happen and it is going to be good for the banks.

Posted-In: Andrew Keene Bloomberg MarketsOptions Markets Media


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