Investors with a lot of money to spend have taken a bearish stance on FedEx FDX.
And retail traders should know.
We noticed this today when the positions showed up on publicly available options history that we track here at Benzinga.
Whether these are institutions or just wealthy individuals, we don't know. But when something this big happens with FDX, it often means somebody knows something is about to happen.
Today, Benzinga's options scanner spotted 16 options trades for FedEx.
This isn't normal.
The overall sentiment of these big-money traders is split between 6% bullish and 93%, bearish.
Out of all of the options we uncovered, there was 1 put, for a total amount of $61,180, and 15, calls, for a total amount of $651,506.
Projected Price Targets
After evaluating the trading volumes and Open Interest, it's evident that the major market movers are focusing on a price band between $210.0 and $260.0 for FedEx, spanning the last three months.
Insights into Volume & Open Interest
In terms of liquidity and interest, the mean open interest for FedEx options trades today is 877.0 with a total volume of 10,137.00.
In the following chart, we are able to follow the development of volume and open interest of call and put options for FedEx's big money trades within a strike price range of $210.0 to $260.0 over the last 30 days.
FedEx Option Volume And Open Interest Over Last 30 Days
Largest Options Trades Observed:
| Symbol | PUT/CALL | Trade Type | Sentiment | Exp. Date | Strike Price | Total Trade Price | Open Interest | Volume |
|---|---|---|---|---|---|---|---|---|
| FDX | CALL | SWEEP | NEUTRAL | 02/09/24 | $252.50 | $76.9K | 87 | 1.0K |
| FDX | CALL | SWEEP | NEUTRAL | 02/09/24 | $252.50 | $76.6K | 87 | 1.3K |
| FDX | CALL | SWEEP | NEUTRAL | 02/02/24 | $252.50 | $62.3K | 2.6K | 1.3K |
| FDX | CALL | SWEEP | NEUTRAL | 02/02/24 | $252.50 | $62.0K | 2.6K | 1.4K |
| FDX | PUT | TRADE | BEARISH | 01/16/26 | $210.00 | $61.1K | 347 | 45 |
About FedEx
FedEx pioneered overnight delivery in 1973 and remains the world's largest express package provider. In its fiscal 2023, which ended May 2023, FedEx derived 47% of revenue from its express division, 37% from ground, and 11% from freight, its asset-based less-than-truckload shipping segment. The remainder comes from other services, including FedEx Office, which provides document production/shipping, and FedEx Logistics, which provides global forwarding. FedEx acquired Dutch parcel delivery firm TNT Express in 2016. TNT was previously the fourth-largest global parcel delivery provider.
Having examined the options trading patterns of FedEx, our attention now turns directly to the company. This shift allows us to delve into its present market position and performance
Present Market Standing of FedEx
- With a trading volume of 569,960, the price of FDX is down by -0.01%, reaching $253.1.
- Current RSI values indicate that the stock is is currently neutral between overbought and oversold.
- Next earnings report is scheduled for 48 days from now.
Expert Opinions on FedEx
2 market experts have recently issued ratings for this stock, with a consensus target price of $307.5.
- Consistent in their evaluation, an analyst from Stifel keeps a Buy rating on FedEx with a target price of $305.
- Showing optimism, an analyst from Melius Research upgrades its rating to Buy with a revised price target of $310.
Options are a riskier asset compared to just trading the stock, but they have higher profit potential. Serious options traders manage this risk by educating themselves daily, scaling in and out of trades, following more than one indicator, and following the markets closely.
If you want to stay updated on the latest options trades for FedEx, Benzinga Pro gives you real-time options trades alerts.
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
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