Citigroup Inc. (NYSE: C) experienced a surge of unusual options activity during the Friday, Aug. 21, session, capped off by a massive $223 million block trade executed after hours. According to Benzinga Pro, on Friday at 04:56 p.m. ET, market data captured a massive order for Citigroup shares.
The block trade comprising 1.7 million shares was priced directly above the asking price of $131.62 apiece at $131.65 per share, resulting in an aggregate transaction value of roughly $223.8 million.
Aggressive LEAPS Call Sweeps
The after-hours trade followed a series of heavy bullish sweeps in the options market throughout the day. Institutional buyers demonstrated strong long-term conviction in call options expiring years out:
January 2027 Calls: A single sweep generated $981,000 in trade value for $77.50 strike in-the-money (ITM) calls expiring Jan. 15, 2027.
December 2026 Calls: A major order spent $814,625 on $70 strike ITM calls expiring Dec. 18, 2026.
December 2028 Calls: Buyers hit out-of-the-money (OTM) $140 strike calls, including a single trade valued at $403,837 expiring Dec. 15, 2028.
Low Short Interest
The aggressive buying points to genuine institutional accumulation rather than a short squeeze.
Exchange data for the July 31 settlement date shows Citigroup's short interest stood at just 1.47% of float, with 24,686,076 shorted shares and a days-to-cover ratio of 2.14.
Recent Strategic Expansions
Adding to the bullish sentiment, Citi announced key strategic developments this month. On Aug. 14, Citi participated in a $4.6 billion syndicated loan for Japan-U.S. energy infrastructure. Robert Nakamura, Citi Country Officer and Head of Banking for Japan, noted, "The investment in energy infrastructure supports growth driven by AI and digitalization."
On Aug. 18, the bank unveiled Custody+, a real-time suite utilizing "Single Event Processing technology" to process over 80% of total event volume in real-time. Amit Agarwal, Head of Custody at Citi Investor Services, stated the platform was designed to help clients move "away from legacy to next-generation architecture."
Finally, on Aug. 21, Citi became the Depositary Bank for Agilyx ASA's new American Depositary Receipt program, trading OTC under the symbol "AGYXY."
How Has Citigroup Performed in 2026?
C shares rose 12.82% year-to-date, advanced by 42.19% over the last year, and rose 13.49% over the last six months. It closed 1.53% higher at $131.65 per share on Friday, and it was 0.17% higher in premarket trading on Monday.
Benzinga's Edge Stock Rankings indicate that BABA maintains a strong price trend in the long term but a weak trend in the short and medium terms, with a moderate growth score.