2015-03-03 Unusual Options Activity (C) (GOGO)

Posted on March 3rd, by Mitchell Warren in Free Articles, Options Risk Management, Smart Money Report, Unusual Options Activity. Comments Off on 2015-03-03 Unusual Options Activity (C) (GOGO)

Unusual Options Activity

C- In the first two hours of trading call activity was more than 50% above the average daily volume at 86K+ contracts. This action was primarily buying in the Mar 20 option expiration (buyer of 7,500 Mar 20 $54.50 calls for $0.83). In total the call to put ratio was just under 3:1. Citigroup shares are up for the fifth consecutive week, but still have room to run before hitting near-term resistance at the $55 level. The stock trades at a P/E ratio of 10.04x (2015 estimates), price to sales ratio of 2.31x, and a price to book ratio of 0.81x. This morning JPMorgan Chase upgraded shares to overweight from neutral and raised their price target to $58 from $54. See below on SpringLeaf about the recent deal they did that is helping both stocks.
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