High-rolling investors have positioned themselves bullish on FedEx FDX, and it's important for retail traders to take note. \This activity came to our attention today through Benzinga's tracking of publicly available options data. The identities of these investors are uncertain, but such a significant move in FDX often signals that someone has privileged information.
Today, Benzinga's options scanner spotted 11 options trades for FedEx. This is not a typical pattern.
The sentiment among these major traders is split, with 45% bullish and 36% bearish. Among all the options we identified, there was one put, amounting to $142,000, and 10 calls, totaling $363,269.
What's The Price Target?
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 $340.0 for FedEx over the last 3 months.
Volume & Open Interest Development
In today's trading context, the average open interest for options of FedEx stands at 658.22, with a total volume reaching 201.00. The accompanying chart delineates the progression of both call and put option volume and open interest for high-value trades in FedEx, situated within the strike price corridor from $170.0 to $340.0, throughout the last 30 days.
FedEx Option Volume And Open Interest Over 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 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| FDX | PUT | TRADE | BEARISH | 12/20/24 | $7.2 | $6.9 | $7.1 | $220.00 | $142.0K | 531 | 0 |
| FDX | CALL | SWEEP | BULLISH | 07/19/24 | $13.1 | $13.0 | $13.1 | $250.00 | $58.9K | 946 | 69 |
| FDX | CALL | SWEEP | NEUTRAL | 07/12/24 | $15.85 | $15.15 | $15.3 | $245.00 | $42.9K | 395 | 18 |
| FDX | CALL | SWEEP | BULLISH | 01/17/25 | $16.65 | $16.6 | $16.65 | $270.00 | $41.6K | 1.1K | 0 |
| FDX | CALL | TRADE | NEUTRAL | 06/21/24 | $84.75 | $81.75 | $83.25 | $170.00 | $41.6K | 79 | 0 |
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.
In light of the recent options history for FedEx, it's now appropriate to focus on the company itself. We aim to explore its current performance.
Present Market Standing of FedEx
- With a volume of 590,354, the price of FDX is up 1.06% at $255.21.
- RSI indicators hint that the underlying stock may be approaching overbought.
- Next earnings are expected to be released in 4 days.
Expert Opinions on FedEx
Over the past month, 2 industry analysts have shared their insights on this stock, proposing an average target price of $285.5.
- An analyst from Wells Fargo downgraded its action to Equal-Weight with a price target of $275.
- Consistent in their evaluation, an analyst from JP Morgan keeps a Neutral rating on FedEx with a target price of $296.
Options trading presents higher risks and potential rewards. Astute traders manage these risks by continually educating themselves, adapting their strategies, monitoring multiple indicators, and keeping a close eye on market movements. Stay informed about the latest FedEx options trades with real-time alerts from Benzinga Pro.
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
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