Whales with a lot of money to spend have taken a noticeably bullish stance on Citigroup.
Looking at options history for Citigroup (NYSE:C) we detected 20 trades.
If we consider the specifics of each trade, it is accurate to state that 50% of the investors opened trades with bullish expectations and 50% with bearish.
From the overall spotted trades, 9 are puts, for a total amount of $1,752,325 and 11, calls, for a total amount of $1,088,975.
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 $47.0 to $75.0 for Citigroup over the last 3 months.
Volume & Open Interest Trends
Examining the volume and open interest provides crucial insights into stock research. This information is key in gauging liquidity and interest levels for Citigroup's options at certain strike prices. Below, we present a snapshot of the trends in volume and open interest for calls and puts across Citigroup's significant trades, within a strike price range of $47.0 to $75.0, over the past month.
Citigroup 30-Day Option Volume & Interest Snapshot
Biggest Options Spotted:
| Symbol | PUT/CALL | Trade Type | Sentiment | Exp. Date | Ask | Bid | Price | Strike Price | Total Trade Price | Open Interest | Volume |
|---|---|---|---|---|---|---|---|---|---|---|---|
| C | PUT | TRADE | BEARISH | 09/20/24 | $15.2 | $14.85 | $15.15 | $70.00 | $757.5K | 2.4K | 2.0K |
| C | PUT | SWEEP | BEARISH | 09/20/24 | $15.0 | $13.1 | $15.0 | $70.00 | $381.0K | 2.4K | 1.2K |
| C | CALL | SWEEP | BULLISH | 09/20/24 | $3.4 | $3.35 | $3.35 | $55.00 | $328.0K | 12.6K | 1.8K |
| C | PUT | SWEEP | BULLISH | 09/20/24 | $15.35 | $15.0 | $15.0 | $70.00 | $295.5K | 2.4K | 1.4K |
| C | CALL | SWEEP | BULLISH | 09/20/24 | $9.1 | $8.8 | $9.1 | $47.00 | $225.6K | 1.2K | 248 |
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.
Following our analysis of the options activities associated with Citigroup, we pivot to a closer look at the company's own performance.
Present Market Standing of Citigroup
- With a volume of 9,848,321, the price of C is down -5.05% at $55.26.
- RSI indicators hint that the underlying stock may be oversold.
- Next earnings are expected to be released in 67 days.
What Analysts Are Saying About 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 $74.2.
- Consistent in their evaluation, an analyst from Oppenheimer keeps a Outperform rating on Citigroup with a target price of $86.
- An analyst from Morgan Stanley persists with their Overweight rating on Citigroup, maintaining a target price of $66.
- An analyst from Piper Sandler downgraded its action to Overweight with a price target of $73.
- Maintaining their stance, an analyst from Morgan Stanley continues to hold a Overweight rating for Citigroup, targeting a price of $79.
- An analyst from BMO Capital persists with their Market Perform rating on Citigroup, maintaining a target price of $67.
Options are a riskier asset compared to just trading the stock, but they have higher profit potential. Serious options traders manage this risk by educating themselves daily, scaling in and out of trades, following more than one indicator, and following the markets closely.