Citigroup (C) volatility collapses on reverses stock split and reinstated dividend

Citigroup (NYSE: C) calls are active on 779K contracts (365K puts) after announcing a 1-for-10 reverse stock & reinstated quarterly dividend of 1c. April call option implied volatility is at 25, June is at 26; below its six-month average of 38 according to Track Data. CLSA's Mike Mayo has a price target of $4.50 with a Underperform rating on C.

---

Serious News for Serious Traders! Try StreetInsider.com Premium Free!

---

You May Also Be Interested In

• Novavax (NVAX) 11K contracts of August 28 weekly 9 calls trade, share price up 8.8%
• NetEase (NTES) call put ratio 1 call to 1.1 puts into quarter results
• Ross Stores (ROST) call put ratio 1.1 calls to 1 put into quarter results