Citi, what seem to be the problem here

Strange

 

Merrill Lynch has cut Citigroup target price to $20 when now it's over $20 already?

Hmm... this is strange.

 

goldman cut financials today too. a lot got lost in the rally

 

I used today to buy puts on C. There is no doubt in my mind that there is lots of downside still left.

 

Citi puts would be well overpriced now. Should have done it 6 months ago.

OTM long dated Call options on Citi are the way to go now IMHO.

 

... we are seeing the bottom already. maybe another 15%
but that will be it.