High Options Trading Volume for Citigroup, Albemarle, SoFi

Citigroup, Albemarle, and SoFi report significant options trading volumes today, potentially influencing stock prices as traders react to underlying market conditions. High put option volumes indicate a bearish sentiment for these stocks.

Date: 07-09-2024

AI Rating: 5

The report discusses options trading volumes for three companies: Citigroup Inc (C), Albemarle Corp. (ALB), and SoFi Technologies Inc (SOFI). High trading volumes in options can indicate investor sentiment about the underlying stocks and potential price movements.

Citigroup Inc (C): The options trading of 59,671 contracts (6.0 million underlying shares) represents about 54.8% of C's average daily trading volume of 10.9 million shares. The significant volume in the $60 strike put option suggests traders are anticipating a possible decline or hedging against losses.

Albemarle Corp. (ALB): With 15,676 contracts traded (1.6 million underlying shares), also about 54.7% of ALB's monthly average of 2.9 million shares, the increased activity in put options indicates a similar sentiment as seen with Citigroup. The focus on the $75 strike put may point to downside hedges.

SoFi Technologies Inc (SOFI): Here, the options trading volume reached 199,036 contracts (19.9 million underlying shares), approximating 54.4% of SOFI's average daily trading volume of 36.6 million shares. The high volume for the $7 strike put option shows a notable bearish sentiment among investors.

Overall, the notable trading activity across these companies hints at a cautious outlook from traders, potentially affecting stock prices if the bearish sentiment prevails. Investors should monitor these developments closely, as shifts in options volume can precede stock price movements.

Stocks: C ALB SOFI