Deep-pocketed investors have adopted a bullish approach towards FedEx FDX, 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 FDX usually suggests something big is about to happen.
We gleaned this information from our observations today when Benzinga's options scanner highlighted 10 extraordinary options activities for FedEx. This level of activity is out of the ordinary.
The general mood among these heavyweight investors is divided, with 50% leaning bullish and 50% bearish. Among these notable options, 4 are puts, totaling $158,935, and 6 are calls, amounting to $233,870.
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 $220.0 to $300.0 for FedEx over the last 3 months.
Volume & Open Interest Trends
Assessing the volume and open interest is a strategic step in options trading. These metrics shed light on the liquidity and investor interest in FedEx's options at specified strike prices. The forthcoming data visualizes the fluctuation in volume and open interest for both calls and puts, linked to FedEx's substantial trades, within a strike price spectrum from $220.0 to $300.0 over the preceding 30 days.
FedEx Call and Put Volume: 30-Day Overview
Largest Options Trades Observed:
| Symbol | PUT/CALL | Trade Type | Sentiment | Exp. Date | Strike Price | Total Trade Price | Open Interest | Volume |
|---|---|---|---|---|---|---|---|---|
| FDX | PUT | TRADE | BULLISH | 03/15/24 | $247.50 | $64.8K | 88 | 301 |
| FDX | CALL | SWEEP | BULLISH | 06/21/24 | $250.00 | $58.9K | 907 | 77 |
| FDX | CALL | SWEEP | BEARISH | 05/17/24 | $230.00 | $45.9K | 10 | 1 |
| FDX | CALL | SWEEP | BEARISH | 01/16/26 | $250.00 | $39.4K | 110 | 10 |
| FDX | CALL | TRADE | BULLISH | 01/16/26 | $300.00 | $37.3K | 606 | 18 |
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.
Following our analysis of the options activities associated with FedEx, we pivot to a closer look at the company's own performance.
Present Market Standing of FedEx
- With a volume of 801,378, the price of FDX is down -0.99% at $244.15.
- RSI indicators hint that the underlying stock may be approaching overbought.
- Next earnings are expected to be released in 17 days.
Professional Analyst Ratings for FedEx
Over the past month, 2 industry analysts have shared their insights on this stock, proposing an average target price of $195.0.
- An analyst from Morgan Stanley has decided to maintain their Equal-Weight rating on FedEx, which currently sits at a price target of $195.
- An analyst from Morgan Stanley has decided to maintain their Equal-Weight rating on FedEx, which currently sits at a price target of $195.
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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