Filed under: Citigroup Inc. (C), Options, Initial public offerings

Citigroup (NYSE: C) closed at $20.71 Tuesday.

Visa (NYSE-V), the credit-card facilitator, priced 406 million shares at $44 last night for its IPO today. C will sell 6.8 million shares of V.

C overall option implied volatility of 62 is above its 26-week average of 41 according to Track Data, suggesting larger price movement.

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

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