Option Update: Citigroup July volatility elevated at 60 into Goldman downgrade to Sell

Posted Jun 26th 2008 8:50AM by Paul Foster
Filed under: Citigroup Inc. (C), Options

Citigroup (NYSE: C) is recently trading at $18 in pre-open trading, below its close of $18.85.

Goldman Sachs lowered its rating on C to its conviction Sell list. Goldman says: "We see multiple headwinds for C including additional write-downs, higher consumer provisions as a result of rapidly deteriorating consumer credit trends, and the potential for additional capital raises, dividend cuts or asset sales."

C July option implied volatility of 60 is above its 26-week average of 49 according to Track Data, suggesting larger price risk.

Option Update is provided by Stock Specialist Paul Foster of theflyonthewall.com

Tags: c, citigroup, goldman sachs, GoldmanSachs, option implied volatility, OptionImpliedVolatility

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Option Update: Citigroup July volatility elevated at 60 into Goldman downgrade to Sell