Deep-pocketed investors have adopted a bearish 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 11 extraordinary options activities for FedEx. This level of activity is out of the ordinary.
The general mood among these heavyweight investors is divided, with 36% leaning bullish and 63% bearish. Among these notable options, 6 are puts, totaling $468,066, and 5 are calls, amounting to $349,477.
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 $260.0 to $302.5 for FedEx over the last 3 months.
Volume & Open Interest Trends
In terms of liquidity and interest, the mean open interest for FedEx options trades today is 1179.4 with a total volume of 801.00.
In the following chart, we are able to follow the development of volume and open interest of call and put options for FedEx's big money trades within a strike price range of $260.0 to $302.5 over the last 30 days.
FedEx Option Activity Analysis: Last 30 Days
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 | BEARISH | 07/26/24 | $5.0 | $4.75 | $5.0 | $302.50 | $250.0K | 929 | 5 |
| FDX | CALL | SWEEP | BEARISH | 09/20/24 | $13.65 | $12.55 | $13.45 | $300.00 | $174.9K | 4.7K | 197 |
| FDX | PUT | SWEEP | BEARISH | 08/16/24 | $4.55 | $4.5 | $4.55 | $295.00 | $83.7K | 79 | 198 |
| FDX | CALL | SWEEP | BEARISH | 09/20/24 | $13.95 | $13.7 | $13.7 | $300.00 | $53.4K | 4.7K | 259 |
| FDX | CALL | SWEEP | BULLISH | 08/09/24 | $5.3 | $5.2 | $5.3 | $300.00 | $53.0K | 32 | 112 |
About FedEx
FedEx pioneered overnight delivery in 1973 and remains the world's largest express package provider. In its fiscal 2024, which ended May 2024, FedEx derived 47% of revenue from its express division, 37% from ground, and 10% 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, boosting the firm's presence across Europe. TNT was previously the fourth-largest global parcel delivery provider.
Having examined the options trading patterns of FedEx, our attention now turns directly to the company. This shift allows us to delve into its present market position and performance
Where Is FedEx Standing Right Now?
- Trading volume stands at 561,668, with FDX's price down by -0.39%, positioned at $299.64.
- RSI indicators show the stock to be is currently neutral between overbought and oversold.
- Earnings announcement expected in 56 days.
Expert Opinions on FedEx
In the last month, 5 experts released ratings on this stock with an average target price of $315.2.
- Maintaining their stance, an analyst from Morgan Stanley continues to hold a Equal-Weight rating for FedEx, targeting a price of $215.
- An analyst from Baird has decided to maintain their Outperform rating on FedEx, which currently sits at a price target of $340.
- Showing optimism, an analyst from JP Morgan upgrades its rating to Overweight with a revised price target of $359.
- An analyst from Raymond James has decided to maintain their Outperform rating on FedEx, which currently sits at a price target of $335.
- In a cautious move, an analyst from Stifel downgraded its rating to Buy, setting a price target of $327.
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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