Citigroup Unusual Options Activity For March 28

Investors with a lot of money to spend have taken a bearish stance on Citigroup C.

And retail traders should know.

We noticed this today when the trades 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.

So how do we know what these investors just did?

Today, Benzinga‘s options scanner spotted 10 uncommon options trades for Citigroup.

This isn’t normal.

The overall sentiment of these big-money traders is split between 10% bullish and 80%, bearish.

Out of all of the special options we uncovered, 4 are puts, for a total amount of $1,811,500, and 6 are calls, for a total amount of $199,505.

Projected Price Targets

After evaluating the trading volumes and Open Interest, it’s evident that the major market movers are focusing on a price band between $55.0 and $85.0 for Citigroup, spanning the last three months.

Volume & Open Interest Trends

In terms of liquidity and interest, the mean open interest for Citigroup options trades today is 4628.62 with a total volume of 4,475.00.

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 $55.0 to $85.0 over the last 30 days.

Citigroup Option Volume And Open Interest Over Last 30 Days

Largest Options Trades Observed:

About Citigroup

Citigroup Inc 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.

After a thorough review of the options trading surrounding Citigroup, we move to examine the company in more detail. This includes an assessment of its current market status and performance.

Citigroup’s Current Market Status

• With a trading volume of 1,059,508, the price of C is down by -0.88%, reaching $71.22.
• Current RSI values indicate that the stock is may be approaching oversold.
• Next earnings report is scheduled for 18 days from now.

Expert Opinions on Citigroup

A total of 3 professional analysts have given their take on this stock in the last 30 days, setting an average price target of $93.0.

Turn $1000 into $1270 in just 20 days?

20-year pro options trader reveals his one-line chart technique that shows when to buy and sell. Copy his trades, which have had averaged a 27% profit every 20 days. Click here for access.
* An analyst from B of A Securities persists with their Buy rating on Citigroup, maintaining a target price of $90.
* An analyst from Goldman Sachs has decided to maintain their Buy rating on Citigroup, which currently sits at a price target of $80.
* An analyst from Morgan Stanley has decided to maintain their Overweight rating on Citigroup, which currently sits at a price target of $109.

Trading options involves greater risks but also offers the potential for higher profits. Savvy traders mitigate these risks through ongoing education, strategic trade adjustments, utilizing various indicators, and staying attuned to market dynamics. Keep up with the latest options trades for Citigroup with Benzinga Pro for real-time alerts.