Deep-pocketed investors have adopted a bearish approach towards American Tower AMT, and it's something market players shouldn't ignore. Our tracking of public options records at Benzinga unveiled this significant move today. The identity of these investors remains unknown, but such a substantial move in AMT usually suggests something big is about to happen.
We gleaned this information from our observations today when Benzinga's options scanner highlighted 8 extraordinary options activities for American Tower. This level of activity is out of the ordinary.
The general mood among these heavyweight investors is divided, with 25% leaning bullish and 75% bearish. Among these notable options, 6 are puts, totaling $494,450, and 2 are calls, amounting to $119,040.
Expected Price Movements
Taking into account the Volume and Open Interest on these contracts, it appears that whales have been targeting a price range from $170.0 to $200.0 for American Tower over the last 3 months.
Volume & Open Interest Development
In terms of liquidity and interest, the mean open interest for American Tower options trades today is 335.0 with a total volume of 1,441.00.
In the following chart, we are able to follow the development of volume and open interest of call and put options for American Tower's big money trades within a strike price range of $170.0 to $200.0 over the last 30 days.
American Tower Option Activity Analysis: Last 30 Days
Noteworthy Options Activity:
| Symbol | PUT/CALL | Trade Type | Sentiment | Exp. Date | Strike Price | Total Trade Price | Open Interest | Volume |
|---|---|---|---|---|---|---|---|---|
| AMT | PUT | TRADE | BULLISH | 01/16/26 | $170.00 | $169.2K | 24 | 100 |
| AMT | PUT | TRADE | BEARISH | 03/15/24 | $190.00 | $117.6K | 627 | 264 |
| AMT | CALL | TRADE | BEARISH | 07/19/24 | $200.00 | $90.0K | 123 | 123 |
| AMT | PUT | TRADE | NEUTRAL | 04/19/24 | $180.00 | $66.3K | 611 | 304 |
| AMT | PUT | TRADE | BULLISH | 04/19/24 | $190.00 | $58.3K | 257 | 73 |
About American Tower
American Tower owns and operates more than 220,000 cell towers throughout the U.S., Asia, Latin America, Europe, and Africa. It also owns and/or operates 28 data centers in 10 U.S. markets after acquiring CoreSite. On its towers, the company has a very concentrated customer base, with most revenue in each market being generated by just the top few mobile carriers. The company operates more than 40,000 towers in the U.S., which accounted for roughly half of the company's total revenue in 2022. Outside the U.S., American Tower operates over 75,000 towers in India, almost 50,000 towers in Latin America (dominated by Brazil), 30,000 towers in Europe, and nearly 25,000 towers in Africa. American Tower operates as an REIT.
After a thorough review of the options trading surrounding American Tower, we move to examine the company in more detail. This includes an assessment of its current market status and performance.
American Tower's Current Market Status
- With a volume of 956,231, the price of AMT is down -0.14% at $189.66.
- RSI indicators hint that the underlying stock may be approaching oversold.
- Next earnings are expected to be released in 1 days.
Trading options involves greater risks but also offers the potential for higher profits. Savvy traders mitigate these risks through ongoing education, strategic trade adjustments, utilizing various indicators, and staying attuned to market dynamics. Keep up with the latest options trades for American Tower with Benzinga Pro for real-time alerts.
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
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