Citigroup Whale Trades For January 10

By Benzinga Insights

Someone with a lot of money to spend has taken a bearish stance on Citigroup (NYSE:C).

And retail traders should know.

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

Whether this is an institution or just a wealthy individual, 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 this whale just did?

Today, Benzinga's options scanner spotted 37 uncommon options trades for Citigroup.

This isn't normal.

The overall sentiment of these big-money traders is split between 45% bullish and 54%, bearish.

Out of all of the special options we uncovered, 6 are puts, for a total amount of $267,747, and 31 are calls, for a total amount of $1,406,073.

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 $32.5 to $120.0 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 9540.95 with a total volume of 29,848.00.

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 $32.5 to $120.0 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 CALL SWEEP BULLISH 01/20/23 $60.00 $168.4K 26.5K 160
C CALL TRADE BEARISH 06/17/22 $65.00 $106.6K 13.5K 200
C CALL TRADE NEUTRAL 06/17/22 $55.00 $100.8K 1.6K 80
C CALL TRADE BEARISH 02/18/22 $70.00 $85.5K 10.7K 2.1K
C PUT TRADE BULLISH 03/18/22 $72.50 $82.5K 3.5K 214

Where Is Citigroup Standing Right Now?

  • With a volume of 12,480,400, the price of C is down -0.18% at $65.66.
  • RSI indicators hint that the underlying stock may be approaching overbought.
  • Next earnings are expected to be released in 4 days.

What The Experts Say On Citigroup:

  • Barclays has decided to maintain their Equal-Weight rating on Citigroup, which currently sits at a price target of $73.
  • Odeon Capital upgraded its action to Buy with a price target of $69
  • JP Morgan has decided to maintain their Neutral rating on Citigroup, which currently sits at a price target of $76.

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.

If you are already an options trader or would like to get started, head on over to Benzinga Pro. Benzinga Pro gives you up-to-date news and analytics to empower your investing and trading strategy.

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