Bulls look for Citigroup to rise

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Traders are betting Wednesday on Citigroup ( C ). So far, 5,363 contracts of the Sept. 62.50 call have changed hands, against open interest of 756. Pricing has, for the most part, been in the high side of the bid-ask spread, indicating that these new contracts are being opened from the buy side.

InvestorsKeyhole Trade Alert

IK-> The technicals for C ($67.64 up $0.03) are bearish with a possible trend reversal. The stock has support around 65.70. Look at the July 57.50/62.50 bull-put spread for a 22-cent credit. That's a 4.6% return and the stock has to fall by 7.6% to cause a problem. [InvestorsKeyhole, various news and data services]

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

Originally published on InvestorsObserver.com

This article appears in: Investing , Options
Referenced Symbols: C

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