Financial giants have made a conspicuous bullish move on FedEx. Our analysis of options history for FedEx FDX revealed 21 unusual trades.
Delving into the details, we found 57% of traders were bullish, while 33% showed bearish tendencies. Out of all the trades we spotted, 11 were puts, with a value of $751,583, and 10 were calls, valued at $320,623.
What's The Price Target?
After evaluating the trading volumes and Open Interest, it's evident that the major market movers are focusing on a price band between $170.0 and $370.0 for FedEx, spanning the last three months.
Volume & Open Interest Trends
Looking at the volume and open interest is an insightful way to conduct due diligence on a stock.
This data can help you track the liquidity and interest for FedEx's options for a given strike price.
Below, we can observe the evolution of the volume and open interest of calls and puts, respectively, for all of FedEx's whale activity within a strike price range from $170.0 to $370.0 in the last 30 days.
FedEx Call and Put Volume: 30-Day Overview
Largest Options Trades Observed:
| Symbol | PUT/CALL | Trade Type | Sentiment | Exp. Date | Ask | Bid | Price | Strike Price | Total Trade Price | Open Interest | Volume |
|---|---|---|---|---|---|---|---|---|---|---|---|
| FDX | PUT | SWEEP | BULLISH | 06/21/24 | $125.8 | $124.75 | $124.75 | $370.00 | $137.2K | 0 | 7 |
| FDX | PUT | SWEEP | BULLISH | 06/21/24 | $116.2 | $115.3 | $115.3 | $360.00 | $126.8K | 0 | 65 |
| FDX | PUT | SWEEP | BULLISH | 06/21/24 | $115.85 | $114.8 | $114.8 | $360.00 | $126.2K | 0 | 12 |
| FDX | PUT | SWEEP | BULLISH | 06/21/24 | $115.6 | $114.5 | $114.5 | $360.00 | $91.6K | 0 | 30 |
| FDX | PUT | SWEEP | BULLISH | 06/21/24 | $23.95 | $23.2 | $23.2 | $267.50 | $64.7K | 45 | 36 |
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.
Where Is FedEx Standing Right Now?
- With a volume of 872,594, the price of FDX is down -1.29% at $245.41.
- RSI indicators hint that the underlying stock may be approaching oversold.
- Next earnings are expected to be released in 21 days.
What Analysts Are Saying About FedEx
Over the past month, 2 industry analysts have shared their insights on this stock, proposing an average target price of $314.5.
- An analyst from JP Morgan has decided to maintain their Neutral rating on FedEx, which currently sits at a price target of $296.
- An analyst from UBS persists with their Buy rating on FedEx, maintaining a target price of $333.
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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