Volume Spike Investor

Citigroup, Inc. (NYSE: C) already crossed over the average daily volume mark within the first hour of trading.  At 10:30 AM EST we have seen 504 million shares trade vs. the almost 400 million average.  Shares are also up 5.5% at $4.01.  But there is huge volume happening in the options markets for Citi as well.  That might seem off because it is only a $4.00 stock, but traders are using these as an even cheaper way to play Citi.  In the August expiration month we have seen over 136,000 calls trade and 55,000 puts trade.  For September, that is over 90,000 calls and almost 40,000 puts. December is active with 57,000 calls traded and over 40,000 puts.

JON C. OGG
AUGUST 7, 2009