CCitigroup Inc.
Options Analysis Report•NATIONAL COMMERCIAL BANKS
Market Cap $219.2B|NYSE
● 2026-04-29$127.61
NEUTRAL
Analysis: 2026-04-28 EOD data
1Y +86.6%YTD +7.5%7D -1.6%
Options Vol
41,063
30D
Implied Move
±9.9%
IV Rank
47%
C Options Overview
Mixed signals. No clear edge detected.
REWARDS
RISK ANALYSIS
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Value
Is IV priced right?
5.6
ExpensiveCheap
Measures whether options are cheap, fair, or rich relative to historical and peer
IV
levels.Risk Checks5/9 checks passed
IV Rank
≤35%IV Rank 43.6% — elevated vs history
IV/HV Ratio
<1.05xIV/HV 1.07x — IV premium over HV
Sector Relative≤50%
Sector percentile 75% — above sector median
Term Structure
<1.1xFront/Back 1.04x — flat
Skew Normal
<1.25xPut/Call IV 1.16x — elevated
Absolute IV
<80%ATM IV 33.8% — normal range
Spread-Adjusted Value
<80%Effective IV 45.1% (ATM 33.8% + spread 5.6% + bias) — excellent value
Execution Efficiency
<3.0%Total drag 7.75% (spread 5.64% + slippage 2.11%) — high friction
Vega Efficiency
≥5.0Vega efficiency 25.30 (vega 14.269 / spread 5.64%) — efficient
Sentiment
Bullish or bearish?
5.3
BearishBullish
Analyzes
put/call ratios
, open interest skew
, and flow direction to determine market bias.Risk ChecksBearish - Moderate signal (Conviction: -11%, Raw: -9%)
Flow Direction
|net sentiment| ≥25%Conviction-weighted: -11% (bearish) — Raw: -9%
OI Skew Magnitude
≥15%|OI skew| 3.1% — balanced
Volume-OI Alignment
Same sign, |vol skew| ≥10%Vol skew +15.6%, OI skew +3.1% — aligned
Conviction Quality
≥2/3 conditions0-DTE 0%, far-OTM 15%, avg DTE 30
OI Momentum
|change| ≥3%OI change +0.0% (5d) — stable
Smart Money Flow
|weighted flow| ≥20%ITM: +46%, ATM: -11%, OTM: -14% — bullish (ITM/ATM divergent)
Sector Relative≤40% or ≥60%
Sector P/C percentile 48% — neutral vs sector
Activity
Unusual activity?
3.0
QuietActive
Detects volume surges,
block trades
, and unusual options activity that may signal moves.Risk Checks1/9 checks passed
Volume Surge
≥1.5xVolume 0.6x avg — normal
Turnover Rate
≥15%Vol/OI 2.8% — normal turnover
Strike Concentration
≥60%Top 3 strikes = 50% — dispersed
Multi-Day Persistence
≥2 days1 day(s) elevated — may be one-day event
OI Build
≥5%OI change +1.4% (5d) — stable
Sector Relative≥60%
Sector activity percentile 43% — neutral vs sector
Trade Quality
≥30%Large trade volume 30% — institutional presence
Execution Urgency
≥60%Aggressive execution 33% — patient
Flow Conviction
≥30Conviction -11 (bearish) — mixed
Liquidity
Can I trade efficiently?
5.7
IlliquidLiquid
Evaluates
bid-ask spreads
, volume depth, and open interest for trade execution quality.Risk Checks4/8 checks passed
Tradeable Spread
≤5.0%Spread 5.6% — wide
Adequate OI
≥10,000OI 1,482,049 — deep
Active Volume
≥500Volume 41,063/day — active
Reasonable Cost
≤$0.50$0.28 to cross — cheap
Strike Coverage
≥5 strikes0 liquid strikes — limited options
Sector Relative≤40%
Sector spread percentile 76% — wider than sector
Order Book Depth
≥100 contractsDepth 328.2 contracts (bid:161.0 ask:167.2) — adequate
Execution Quality
<1.0%Avg slippage 2.11% — poor
Timing
Is now a good time?
6.3
RiskyFavorable
Considers earnings proximity,
time decay
, and event calendar for optimal entry timing.Risk Checks4/9 checks passed
Term Structure Clarity
|slope| ≥5%Slope +3.6% — flat/unclear
IV Percentile Clarity
<30 or >70IV percentile 44% — neutral
Event Detection
≥10pts kinkIV kink 1.4pts — no clear event
Theta/Vega Clarity
<0.5 or >2.0θ/ν ratio 184.60 — favors income trades
Expiration Distribution
≥3 expirations5 liquid expirations — flexible
Event Risk
≥60% (safe)HIGH RISK: FOMC in 0d (HIGH)
Spread Momentum
<1.2 ratioSpread ratio 1.00x — stable
Flow Momentum
≥25% strength + ≥50% consistencyFlow -11% @ 55% consistency — unclear
Smart Money Timing
≥40 composite scoreScore 60 (ITM 20% + inst 30%) — HIGH institutional
Directional Strategy Fit
Option Buyers
Long Calls5.6
bullishIV fair, mixed flow
Long Puts5.4
bearishIV fair, mixed flow
Premium Sellers
Cash-Secured Put5.3
bullishIV fair, mixed flow
Covered Call5.0
bearishIV fair, mixed flow
For educational purposes only. Not investment advice.