Citi adds 32 cents to $33.24 and it looks like one player seized 20,000 Mar 35 puts on the stock for $2.16 when the market was $2.13 to $2.16. Looks opening and tied to 2 million shares for $33.42. Shares are up 27.6 percent year-to-date and today’s block of puts might be a bet that Citi will see an uptick in volatility over the next 24 days. IV is about 35 percent and its lowest levels so far in 2012, but still up from the 52-week low of 20.5 seen in April of last year.
About the Author (Author Profile)
Frederic Ruffy is a well-known trader, writer, and strategist who has spent years educating investors and creating intelligent, insightful, unbiased market observations that are frequently cited by the Wall Street Journal and other financial publications. As senior analyst, Fred provides frequent and regular notes and daily updates for activity of interest.