A whale with a lot of money to spend has taken a noticeably bearish stance on Citigroup.
Looking at options history for Citigroup (NYSE:C) we detected 14 strange trades.
If we consider the specifics of each trade, it is accurate to state that 42% of the investors opened trades with bullish expectations and 57% with bearish.
From the overall spotted trades, 12 are puts, for a total amount of $408,478 and 2, calls, for a total amount of $103,600.
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 $40.0 to $80.0 for Citigroup over the last 3 months.
Volume & Open Interest Development
In terms of liquidity and interest, the mean open interest for Citigroup options trades today is 11932.92 with a total volume of 3,337.00.
In the following chart, we are able to follow the development of volume and open interest of call and put options for Citigroup's big money trades within a strike price range of $40.0 to $80.0 over the last 30 days.
Citigroup Option Volume And Open Interest Over Last 30 Days
Biggest Options Spotted:
| Symbol | PUT/CALL | Trade Type | Sentiment | Exp. Date | Strike Price | Total Trade Price | Open Interest | Volume |
|---|---|---|---|---|---|---|---|---|
| C | PUT | SWEEP | NEUTRAL | 08/19/22 | $70.00 | $72.3K | 88 | 69 |
| C | CALL | SWEEP | BEARISH | 05/20/22 | $52.50 | $64.1K | 5.1K | 649 |
| C | CALL | TRADE | BEARISH | 01/20/23 | $55.00 | $39.5K | 12.5K | 104 |
| C | PUT | SWEEP | BULLISH | 10/21/22 | $70.00 | $37.1K | 201 | 20 |
| C | PUT | TRADE | NEUTRAL | 01/19/24 | $80.00 | $35.5K | 291 | 12 |
Where Is Citigroup Standing Right Now?
- With a volume of 13,069,345, the price of C is down -2.48% at $51.33.
- RSI indicators hint that the underlying stock may be approaching oversold.
- Next earnings are expected to be released in 82 days.
What The Experts Say On Citigroup:
- Morgan Stanley downgraded its action to Underweight with a price target of $60
- Barclays has decided to maintain their Equal-Weight rating on Citigroup, which currently sits at a price target of $67.
- Piper Sandler has decided to maintain their Overweight rating on Citigroup, which currently sits at a price target of $70.
- BMO Capital has decided to maintain their Outperform rating on Citigroup, which currently sits at a price target of $78.
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.
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