Looking At Citigroup's Recent Unusual Options Activity

Author: Benzinga Insights | July 03, 2024 10:03am

Investors with a lot of money to spend have taken a bullish stance on Citigroup (NYSE:C).

And retail traders should know.

We noticed this today when the positions showed up on publicly available options history that we track here at Benzinga.

Whether these are institutions or just wealthy individuals, we don't know. But when something this big happens with C, it often means somebody knows something is about to happen.

Today, Benzinga's options scanner spotted 12 options trades for Citigroup.

This isn't normal.

The overall sentiment of these big-money traders is split between 75% bullish and 25%, bearish.

Out of all of the options we uncovered, there was 1 put, for a total amount of $36,735, and 11, calls, for a total amount of $534,091.

What's The Price Target?

Based on the trading activity, it appears that the significant investors are aiming for a price territory stretching from $30.0 to $66.0 for Citigroup over the recent three months.

Insights into Volume & Open Interest

Looking at the volume and open interest is an insightful way to conduct due diligence on a stock.

This data can help you track the liquidity and interest for Citigroup's options for a given strike price.

Below, we can observe the evolution of the volume and open interest of calls and puts, respectively, for all of Citigroup's whale activity within a strike price range from $30.0 to $66.0 in the last 30 days.

Citigroup Option Volume And Open Interest Over Last 30 Days

Largest Options Trades Observed:

Symbol	PUT/CALL	Trade Type	Sentiment	Exp. Date	Ask	Bid	Price	Strike Price	Total Trade Price	Open Interest	Volume
C	CALL	SWEEP	BULLISH	12/20/24	$5.9	$5.85	$5.9	$62.50	$147.5K	1.3K	0
C	CALL	TRADE	BULLISH	08/16/24	$2.23	$2.2	$2.22	$65.00	$66.6K	18.5K	359
C	CALL	TRADE	BULLISH	08/16/24	$5.85	$4.4	$5.49	$60.00	$54.9K	4.6K	0
C	CALL	TRADE	BULLISH	10/18/24	$10.8	$10.75	$10.8	$55.00	$54.0K	2.0K	0
C	PUT	SWEEP	BEARISH	06/20/25	$4.75	$4.5	$4.65	$62.50	$36.7K	12.1K	0

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

• Currently trading with a volume of 1,146,373, the C's price is up by 0.37%, now at $64.92.
• RSI readings suggest the stock is currently may be approaching overbought.
• Anticipated earnings release is in 9 days.

Expert Opinions on Citigroup

5 market experts have recently issued ratings for this stock, with a consensus target price of $65.6.

• Maintaining their stance, an analyst from Evercore ISI Group continues to hold a In-Line rating for Citigroup, targeting a price of $62.
• Consistent in their evaluation, an analyst from RBC Capital keeps a Outperform rating on Citigroup with a target price of $66.
• Maintaining their stance, an analyst from Morgan Stanley continues to hold a Overweight rating for Citigroup, targeting a price of $65.
• An analyst from Keefe, Bruyette & Woods persists with their Market Perform rating on Citigroup, maintaining a target price of $69.
• Reflecting concerns, an analyst from RBC Capital lowers its rating to Outperform with a new price target of $66.

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.

Posted In: C