CCitigroup Inc.
Options Analysis Report•NATIONAL COMMERCIAL BANKS
Market Cap $225.4B|NYSE
● 2026-04-17$132.18
NEUTRAL
Analysis: 2026-04-16 EOD data
1Y +110.8%YTD +11.4%7D +6.3%
Options Vol
73,714
30D
Implied Move
±9.5%
IV Rank
39%
C Options Overview
Mixed signals. No clear edge detected.
REWARDS
RISK ANALYSIS
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Value
Is IV priced right?
6.9
ExpensiveCheap
Measures whether options are cheap, fair, or rich relative to historical and peer
IV
levels.Risk Checks6/9 checks passed
IV Rank
≤35%IV Rank 36.1% — elevated vs history
IV/HV Ratio
<1.05xIV/HV 0.89x — IV ≤ HV
Sector Relative≤50%
Sector percentile 54% — above sector median
Term Structure
<1.1xFront/Back 0.89x — contango
Skew Normal
<1.25xPut/Call IV 1.16x — elevated
Absolute IV
<80%ATM IV 32.4% — normal range
Spread-Adjusted Value
<80%Effective IV 44.0% (ATM 32.4% + spread 5.8% + bias) — excellent value
Execution Efficiency
<3.0%Total drag 8.09% (spread 5.82% + slippage 2.27%) — high friction
Vega Efficiency
≥5.0Vega efficiency 36.73 (vega 21.378 / spread 5.82%) — efficient
Sentiment
Bullish or bearish?
4.9
BearishBullish
Analyzes
put/call ratios
, open interest skew
, and flow direction to determine market bias.Risk ChecksBearish - Weak signal (Conviction: -19%, Raw: -15%)
Flow Direction
|net sentiment| ≥25%Conviction-weighted: -19% (bearish) — Raw: -15%
OI Skew Magnitude
≥15%|OI skew| 6.0% — balanced
Volume-OI Alignment
Same sign, |vol skew| ≥10%Vol skew +4.0%, OI skew +6.0% — weak (same direction)
Conviction Quality
≥2/3 conditions0-DTE 25%, far-OTM 15%, avg DTE 30
OI Momentum
|change| ≥3%OI change +0.0% (5d) — stable
Smart Money Flow
|weighted flow| ≥20%ITM: +6%, ATM: -17%, OTM: -16% — neutral (ITM/ATM divergent)
Sector Relative≤40% or ≥60%
Sector P/C percentile 60% — bearish vs sector
Activity
Unusual activity?
4.4
QuietActive
Detects volume surges,
block trades
, and unusual options activity that may signal moves.Risk Checks1/9 checks passed
Volume Surge
≥1.5xVolume 0.9x avg — normal
Turnover Rate
≥15%Vol/OI 4.6% — 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 +16.2% (5d) — building
Sector Relative≥60%
Sector activity percentile 54% — neutral vs sector
Trade Quality
≥30%Large trade volume 27% — mixed
Execution Urgency
≥60%Aggressive execution 36% — patient
Flow Conviction
≥30Conviction -19 (bearish) — mixed
Liquidity
Can I trade efficiently?
5.8
IlliquidLiquid
Evaluates
bid-ask spreads
, volume depth, and open interest for trade execution quality.Risk Checks4/8 checks passed
Tradeable Spread
≤5.0%Spread 5.8% — wide
Adequate OI
≥10,000OI 1,593,901 — deep
Active Volume
≥500Volume 73,714/day — active
Reasonable Cost
≤$0.50$0.29 to cross — cheap
Strike Coverage
≥5 strikes0 liquid strikes — limited options
Sector Relative≤40%
Sector spread percentile 56% — neutral vs sector
Order Book Depth
≥100 contractsDepth 318.9 contracts (bid:167.0 ask:151.9) — adequate
Execution Quality
<1.0%Avg slippage 2.27% — poor
Timing
Is now a good time?
6.9
RiskyFavorable
Considers earnings proximity,
time decay
, and event calendar for optimal entry timing.Risk Checks6/9 checks passed
Term Structure Clarity
|slope| ≥5%Slope -11.4% — contango
IV Percentile Clarity
<30 or >70IV percentile 36% — neutral
Event Detection
≥10pts kinkIV kink -3.3pts — no clear event
Theta/Vega Clarity
<0.5 or >2.0θ/ν ratio 366.69 — favors income trades
Expiration Distribution
≥3 expirations5 liquid expirations — flexible
Event Risk
≥60% (safe)safe window: No events detected
Spread Momentum
<1.2 ratioSpread ratio 1.00x — stable
Flow Momentum
≥25% strength + ≥50% consistencyFlow -19% @ 60% consistency — unclear
Smart Money Timing
≥40 composite scoreScore 57 (ITM 20% + inst 27%) — moderate institutional
Directional Strategy Fit
Option Buyers
Long Calls6.0
bullishIV cheap, mixed flow
Long Puts6.1
bearishIV cheap, mixed flow
Premium Sellers
Cash-Secured Put4.8
bullishIV too cheap, mixed flow
Covered Call4.9
bearishIV too cheap, mixed flow
For educational purposes only. Not investment advice.