Citigroup's Options Frenzy: What You Need to Know
Portfolio Pulse from Benzinga Insights
Investors have taken a predominantly bearish stance on Citigroup (NYSE:C) as evidenced by 53 uncommon options trades, with 62% being bearish. The price range focus is between $44.0 and $90.0. Citigroup's stock is currently down 1.75% at $62.47, with an RSI indicating potential overbought conditions. Oppenheimer maintains an Outperform rating with a target price of $86.
May 28, 2024 | 8:45 pm
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Citigroup has seen a surge in bearish options trades, with 62% of 53 uncommon trades being bearish. The stock is currently down 1.75% at $62.47, and RSI indicators suggest it may be overbought. Oppenheimer maintains an Outperform rating with a target price of $86.
The high volume of bearish options trades suggests that investors expect Citigroup's stock to decline in the short term. The current price drop and overbought RSI indicators further support this bearish outlook. However, the Outperform rating from Oppenheimer with a target price of $86 provides a longer-term positive outlook.
CONFIDENCE 85
IMPORTANCE 90
RELEVANCE 100