Smart Money Is Betting Big In Citigroup Options

Author: Benzinga Insights | July 10, 2024 03:47pm

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 68 trades.

If we consider the specifics of each trade, it is accurate to state that 48% of the investors opened trades with bullish expectations and 36% with bearish.

From the overall spotted trades, 14 are puts, for a total amount of $1,929,113 and 54, calls, for a total amount of $3,017,028.

Predicted Price Range

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.

Analyzing Volume & Open Interest

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 $47.0 to $75.0 over the preceding 30 days.

Citigroup 30-Day Option Volume & Interest Snapshot

Noteworthy Options Activity:

Symbol	PUT/CALL	Trade Type	Sentiment	Exp. Date	Ask	Bid	Price	Strike Price	Total Trade Price	Open Interest	Volume
C	CALL	SWEEP	BULLISH	01/17/25	$13.45	$13.35	$13.44	$55.00	$134.4K	33.5K	107
C	CALL	TRADE	BULLISH	09/20/24	$2.56	$2.53	$2.55	$67.50	$127.5K	5.3K	194
C	PUT	SWEEP	BEARISH	01/17/25	$7.85	$7.55	$7.74	$72.50	$116.0K	585	0
C	PUT	SWEEP	BULLISH	06/20/25	$7.65	$7.5	$7.55	$70.00	$104.3K	3.1K	0
C	CALL	TRADE	NEUTRAL	01/17/25	$2.07	$2.03	$2.05	$75.00	$102.5K	26.6K	65

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 6,060,183, the C's price is up by 0.42%, now at $66.83.
• RSI readings suggest the stock is currently may be overbought.
• Anticipated earnings release is in 2 days.

What Analysts Are Saying About Citigroup

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

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

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