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NaughtyPines
May 12, 2020 2:20 PM

OPENING: C JULY 17TH 35 SHORT PUT Long

Citigroup, Inc.NYSE

Description

... for a 1.22/contract credit.

Notes: Taking a small directional shot here in relatively high implied for a financial (42/53) that's been #CoronaHammered. Would also be fine with taking on shares and then proceeding to cover with a cost basis of 33.78, since it has dividends (4.4% yield).

Trade closed: target reached

Out for .54/contract here, .68 ($68)/contract profit. 56% max with 52 days to go.
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