High-rolling investors have positioned themselves bullish on Citigroup (NYSE:C), and it's important for retail traders to take note.\This activity came to our attention today through Benzinga's tracking of publicly available options data. The identities of these investors are uncertain, but such a significant move in C often signals that someone has privileged information.
Today, Benzinga's options scanner spotted 13 options trades for Citigroup. This is not a typical pattern.
The sentiment among these major traders is split, with 53% bullish and 30% bearish. Among all the options we identified, there was one put, amounting to $25,881, and 12 calls, totaling $1,804,172.
Projected Price Targets
After evaluating the trading volumes and Open Interest, it's evident that the major market movers are focusing on a price band between $30.0 and $65.0 for Citigroup, spanning the last three months.
Insights into Volume & Open Interest
In today's trading context, the average open interest for options of Citigroup stands at 10535.0, with a total volume reaching 14,571.00. The accompanying chart delineates the progression of both call and put option volume and open interest for high-value trades in Citigroup, situated within the strike price corridor from $30.0 to $65.0, throughout the last 30 days.
Citigroup Option Activity Analysis: Last 30 Days
Significant Options Trades Detected:
| Symbol | PUT/CALL | Trade Type | Sentiment | Exp. Date | Ask | Bid | Price | Strike Price | Total Trade Price | Open Interest | Volume |
|---|---|---|---|---|---|---|---|---|---|---|---|
| C | CALL | SWEEP | BEARISH | 06/21/24 | $2.68 | $2.63 | $2.68 | $62.50 | $1.1M | 65.6K | 4.2K |
| C | CALL | TRADE | BULLISH | 06/21/24 | $2.66 | $2.63 | $2.65 | $62.50 | $237.4K | 65.6K | 5.1K |
| C | CALL | SWEEP | BEARISH | 05/17/24 | $1.95 | $1.85 | $1.88 | $62.50 | $93.2K | 24.6K | 1.0K |
| C | CALL | TRADE | NEUTRAL | 10/18/24 | $7.2 | $7.05 | $7.13 | $60.00 | $92.6K | 1.3K | 130 |
| C | CALL | SWEEP | BEARISH | 01/17/25 | $34.8 | $34.2 | $34.44 | $30.00 | $58.5K | 646 | 17 |
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.
Citigroup's Current Market Status
- With a volume of 1,725,562, the price of C is up 0.69% at $64.03.
- RSI indicators hint that the underlying stock may be overbought.
- Next earnings are expected to be released in 58 days.
What Analysts Are Saying About Citigroup
A total of 1 professional analysts have given their take on this stock in the last 30 days, setting an average price target of $86.0.
- An analyst from Oppenheimer persists with their Outperform rating on Citigroup, maintaining a target price of $86.
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.