A whale with a lot of money to spend has taken a noticeably bearish stance on FedEx.
Looking at options history for FedEx FDX we detected 30 strange trades.
If we consider the specifics of each trade, it is accurate to state that 26% of the investors opened trades with bullish expectations and 73% with bearish.
From the overall spotted trades, 28 are puts, for a total amount of $1,006,869 and 2, calls, for a total amount of $292,141.
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 $200.0 to $240.0 for FedEx over the last 3 months.
Volume & Open Interest Development
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 $200.0 to $240.0 in 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 | Strike Price | Total Trade Price | Open Interest | Volume |
|---|---|---|---|---|---|---|---|---|
| FDX | CALL | SWEEP | BULLISH | 01/19/24 | $230.00 | $240.9K | 1.5K | 91 |
| FDX | PUT | SWEEP | BEARISH | 01/19/24 | $240.00 | $95.3K | 884 | 117 |
| FDX | PUT | SWEEP | BULLISH | 01/19/24 | $240.00 | $72.9K | 884 | 376 |
| FDX | PUT | SWEEP | BULLISH | 06/16/23 | $220.00 | $59.1K | 2.1K | 150 |
| FDX | PUT | TRADE | BULLISH | 01/19/24 | $240.00 | $54.5K | 884 | 217 |
Where Is FedEx Standing Right Now?
- With a volume of 665,088, the price of FDX is up 0.42% at $230.44.
- RSI indicators hint that the underlying stock may be overbought.
- Next earnings are expected to be released in 70 days.
What The Experts Say On FedEx:
- Credit Suisse downgraded its action to Outperform with a price target of $273
- Stephens & Co. downgraded its action to Overweight with a price target of $290
- Raymond James upgraded its action to Outperform with a price target of $285
- Barclays has decided to maintain their Overweight rating on FedEx, which currently sits at a price target of $280.
- Goldman Sachs has decided to maintain their Buy rating on FedEx, which currently sits at a price target of $250.
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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