Volume Spike Investor

Traders are using CALL OPTIONS to trade Citigroup right now as many options are being rolled forward this week (expiration date is today). Of the ten most active call option contracts on the entire CBOE, four of the ten most actives are Citigroup options. Below you can see the number of contracts for each month listed with the prior open interest:

CALL/STRIKE Volume OpInt

AUG08 $17.50 5,803 34,691
AUG08 $20.00 27,280 50,245
AUG08 $22.50 23,361 34,329
AUG08 $25.00 2,058 4,375

SEP08 $17.50 3,141 20,405
SEP08 $20.00 10,311 59,780
SEP08 $22.50 32,739 82,398
SEP08 $25.00 7,186 76,941

DEC08 $20.00 2,383 17,885
DEC08 $22.50 5,726 35,393
DEC08 $25.00 4,217 25,991

JAN09 $17.50 2,096 51,515
JAN09 $20.00 3,817 81,697
JAN09 $22.50 2,007 68,260
JAN09 $25.00 3,057 107,097

Shares of Citigroup are up over 10% at $19.85 on this options expiration date. We have also now seen 80 million shares at 12:08 PM EST versus an average daily volume now of over 90 million shares.

Jon Ogg
July 18, 2008