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]
Originally published on InvestorsObserver.com