Deep-pocketed investors have adopted a bullish approach towards American Express AXP, 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 AXP usually suggests something big is about to happen.
We gleaned this information from our observations today when Benzinga's options scanner highlighted 14 extraordinary options activities for American Express. This level of activity is out of the ordinary.
The general mood among these heavyweight investors is divided, with 42% leaning bullish and 35% bearish. Among these notable options, 7 are puts, totaling $428,685, and 7 are calls, amounting to $295,167.
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 $195.0 to $240.0 for American Express over the last 3 months.
Insights into Volume & Open Interest
Assessing the volume and open interest is a strategic step in options trading. These metrics shed light on the liquidity and investor interest in American Express's options at specified strike prices. The forthcoming data visualizes the fluctuation in volume and open interest for both calls and puts, linked to American Express's substantial trades, within a strike price spectrum from $195.0 to $240.0 over the preceding 30 days.
American Express Option Activity Analysis: Last 30 Days
Biggest Options Spotted:
| Symbol | PUT/CALL | Trade Type | Sentiment | Exp. Date | Ask | Bid | Price | Strike Price | Total Trade Price | Open Interest | Volume |
|---|---|---|---|---|---|---|---|---|---|---|---|
| AXP | PUT | TRADE | BULLISH | 01/17/25 | $10.4 | $10.1 | $10.15 | $220.00 | $203.0K | 1.1K | 203 |
| AXP | CALL | TRADE | BULLISH | 08/16/24 | $7.25 | $7.2 | $7.25 | $240.00 | $62.3K | 100 | 175 |
| AXP | PUT | SWEEP | BEARISH | 06/21/24 | $1.21 | $1.2 | $1.21 | $225.00 | $60.5K | 119 | 508 |
| AXP | CALL | TRADE | NEUTRAL | 08/16/24 | $14.15 | $13.9 | $14.03 | $230.00 | $60.3K | 125 | 43 |
| AXP | PUT | SWEEP | NEUTRAL | 06/21/24 | $2.19 | $2.14 | $2.15 | $230.00 | $43.0K | 3.1K | 300 |
About American Express
American Express is a global financial institution, operating in about 130 countries, that provides consumers and businesses charge and credit card payment products. The company also operates a highly profitable merchant payment network. Since 2018, it has operated in three segments: global consumer services, global commercial services, and global merchant and network services. In addition to payment products, the company's commercial business offers expense management tools, consulting services, and business loans.
After a thorough review of the options trading surrounding American Express, we move to examine the company in more detail. This includes an assessment of its current market status and performance.
Present Market Standing of American Express
- With a trading volume of 1,700,951, the price of AXP is down by -0.29%, reaching $234.0.
- Current RSI values indicate that the stock is is currently neutral between overbought and oversold.
- Next earnings report is scheduled for 43 days from now.
What The Experts Say On American Express
In the last month, 1 experts released ratings on this stock with an average target price of $275.0.
- An analyst from Wells Fargo has decided to maintain their Overweight rating on American Express, which currently sits at a price target of $275.
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 American Express, 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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