Citi is up 16 cents to $26.17 and one player in the options market seems to think the stock can recapture some of the 31.3 percent plunge suffered over the past two months. 3800 Sep 22 – 24 put spreads were sold on the back at 51 cents to buy 19,000 Sep 35 calls for 36 cents. Separately, another investor sold 10,400 Jan14 $20 puts on Citi at $3.15 and is possibly liquidating a position.
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.