Investors with a lot of money to spend have taken a bullish stance on American Express AXP.
And retail traders should know.
We noticed this today when the trades showed up on publicly available options history that we track here at Benzinga.
Whether these are institutions or just wealthy individuals, we don't know. But when something this big happens with AXP, it often means somebody knows something is about to happen.
So how do we know what these investors just did?
Today, Benzinga's options scanner spotted 23 uncommon options trades for American Express.
This isn't normal.
The overall sentiment of these big-money traders is split between 52% bullish and 30%, bearish.
Out of all of the special options we uncovered, 5 are puts, for a total amount of $173,283, and 18 are calls, for a total amount of $3,270,404.
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 $185.0 to $350.0 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 $185.0 to $350.0 over the preceding 30 days.
American Express Option Volume And Open Interest Over 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 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| AXP | CALL | SWEEP | BEARISH | 01/17/25 | $87.6 | $87.55 | $87.57 | $185.00 | $1.1M | 2.2K | 76 |
| AXP | CALL | TRADE | BULLISH | 10/18/24 | $31.0 | $30.5 | $31.0 | $240.00 | $310.0K | 1.2K | 191 |
| AXP | CALL | SWEEP | BEARISH | 10/18/24 | $32.2 | $31.0 | $31.0 | $240.00 | $303.8K | 1.2K | 291 |
| AXP | CALL | SWEEP | BULLISH | 01/17/25 | $87.15 | $85.7 | $87.01 | $185.00 | $261.1K | 2.2K | 31 |
| AXP | CALL | SWEEP | NEUTRAL | 10/18/24 | $30.8 | $30.75 | $30.8 | $240.00 | $255.6K | 1.2K | 91 |
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.
Having examined the options trading patterns of American Express, our attention now turns directly to the company. This shift allows us to delve into its present market position and performance
American Express's Current Market Status
- Trading volume stands at 696,044, with AXP's price up by 0.55%, positioned at $270.07.
- RSI indicators show the stock to be may be approaching overbought.
- Earnings announcement expected in 16 days.
What Analysts Are Saying About American Express
In the last month, 2 experts released ratings on this stock with an average target price of $282.5.
Turn $1000 into $1270 in just 20 days?
20-year pro options trader reveals his one-line chart technique that shows when to buy and sell. Copy his trades, which have had averaged a 27% profit every 20 days. Click here for access. * An analyst from B of A Securities has decided to maintain their Neutral rating on American Express, which currently sits at a price target of $265. * An analyst from Wells Fargo persists with their Overweight rating on American Express, maintaining a target price of $300.
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.
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