Citigroup Inc. (NYSE: C) shares are up 60.4% since the beginning of November, but at least one larger option trader is betting on more upside ahead of the company’s upcoming fourth-quarter earnings report.
The Citigroup Trades: On Wednesday, Benzinga Pro subscribers received several alerts related to unusually large Citigroup option trades. One trade stood out because of its size and the expiration date of its contracts:
- At 10:04 a.m. EST, a trader bought 3,498 Citigroup call options with a $55 strike price expiring on Friday. The contracts were purchased near the ask price at $11.444 and represented a $4 million bullish bet.
Related Link: How To Read And Trade An Options Alert
Why It’s Important For Citigroup Investors: Even traders who stick exclusively to stocks ...