Citigroup Inc.
(C) opened at 19.94. So far today, the stock has hit a low of 19.50 and a high of 20.40. C is now trading at 20.08, up 0.73 (3.66%). The stock hit its 52 week high of 52.18 in July and set its 52 week low of 14.01 in July. The stock has been dropping for the past year. Citigroup shares have been soaring today with other financial companies after Bank of America Corp.
(BAC) reported a sharp decline in second-quarter earnings but still beat analysts' estimates. The company posted second-quarter profit of $3.41 billion, or 72 cents a share, surpassing analysts' predictions of 59 cents a share. Technical indicators for the stock are bearish but slightly improving while S&P gives C a neutral 3 STARS (out of 5) hold rating. If you’re looking for a hedged play on this stock, consider a September bull-put credit spread below the $12.50 range. C stock could fall up to 37.7% before expiration and this position would still be profitable. [RHF - Seven Summits Strategic Investments NewsBite]