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Citigroup attracts attention from option bulls

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Option traders are making a big bet that shares of Citigroup ( C ) will rise in the next two weeks. So far today, 7,906 contracts of the July 7-expiring 68.50 call have changed hands. Today's volume has all been on the high side of the spread, with the biggest trade, 7,285 contracts, moving at 5 cents per share, the high for the day. Open interest was 912 contracts.

InvestorsKeyhole Trade Alert

IK-> The technicals for C ($64.66 up $0.88) are bullish with an upward trend. The stock has support about $63.40. Look at the August 52.50/57.50 bull-put spread for a 20-cent credit. That's a 4.2% return and the stock has to fall by 11.1% 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


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

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