Deep-pocketed investors have adopted a bearish approach towards Citigroup (NYSE: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 19 extraordinary options activities for Citigroup. This level of activity is out of the ordinary.
The general mood among these heavyweight investors is divided, with 36% leaning bullish and 47% bearish. Among these notable options, 3 are puts, totaling $247,020, and 16 are calls, amounting to $1,472,324.
What's The Price Target?
Taking into account the Volume and Open Interest on these contracts, it appears that whales have been targeting a price range from $45.0 to $80.0 for Citigroup over the last 3 months.
Volume & Open Interest Trends
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 $45.0 to $80.0 over the preceding 30 days.
Citigroup Option Activity Analysis: Last 30 Days
Biggest Options Spotted:
| Symbol | PUT/CALL | Trade Type | Sentiment | Exp. Date | Ask | Bid | Price | Strike Price | Total Trade Price | Open Interest | Volume |
|---|---|---|---|---|---|---|---|---|---|---|---|
| C | CALL | TRADE | BEARISH | 10/18/24 | $1.3 | $1.28 | $1.28 | $65.00 | $384.0K | 19.8K | 3.8K |
| C | CALL | SWEEP | BEARISH | 12/18/26 | $4.15 | $3.9 | $3.91 | $80.00 | $197.0K | 4.1K | 1.7K |
| C | PUT | TRADE | BULLISH | 10/18/24 | $1.51 | $1.49 | $1.49 | $60.00 | $184.7K | 10.1K | 1.5K |
| C | CALL | TRADE | BEARISH | 12/18/26 | $7.05 | $5.85 | $6.32 | $72.50 | $183.2K | 4.4K | 800 |
| C | CALL | TRADE | BEARISH | 12/18/26 | $7.4 | $5.7 | $6.12 | $72.50 | $122.4K | 4.4K | 510 |
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.
Current Position of Citigroup
- With a volume of 9,345,721, the price of C is down -0.56% at $61.79.
- RSI indicators hint that the underlying stock is currently neutral between overbought and oversold.
- Next earnings are expected to be released in 46 days.
What The Experts Say On Citigroup
1 market experts have recently issued ratings for this stock, with a consensus target price of $79.0.
- Maintaining their stance, an analyst from Morgan Stanley continues to hold a Overweight rating for Citigroup, targeting a price of $79.
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.