Someone with a lot of money to spend has taken a bearish stance on American Express AXP.
And retail traders should know.
We noticed this today when the big position showed up on publicly available options history that we track here at Benzinga.
Whether this is an institution or just a wealthy individual, 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 this whale just did?
Today, Benzinga's options scanner spotted 11 uncommon options trades for American Express.
This isn't normal.
The overall sentiment of these big-money traders is split between 36% bullish and 63%, bearish.
Out of all of the special options we uncovered, 4 are puts, for a total amount of $158,500, and 7 are calls, for a total amount of $412,513.
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 $150.0 to $190.0 for American Express 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 American Express'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 American Express's whale activity within a strike price range from $150.0 to $190.0 in the last 30 days.
American Express 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 |
|---|---|---|---|---|---|---|---|---|
| AXP | CALL | SWEEP | BEARISH | 05/05/23 | $150.00 | $154.1K | 246 | 5 |
| AXP | CALL | SWEEP | BEARISH | 01/17/25 | $190.00 | $75.8K | 80 | 100 |
| AXP | PUT | TRADE | BEARISH | 05/19/23 | $155.00 | $61.0K | 1.8K | 248 |
| AXP | CALL | TRADE | BULLISH | 05/05/23 | $152.50 | $56.5K | 186 | 101 |
| AXP | CALL | SWEEP | BEARISH | 10/20/23 | $170.00 | $38.7K | 552 | 6 |
Where Is American Express Standing Right Now?
- With a volume of 888,637, the price of AXP is up 1.19% at $157.57.
- RSI indicators hint that the underlying stock is currently neutral between overbought and oversold.
- Next earnings are expected to be released in 85 days.
What The Experts Say On American Express:
- JP Morgan has decided to maintain their Neutral rating on American Express, which currently sits at a price target of $167.
- Piper Sandler has decided to maintain their Neutral rating on American Express, which currently sits at a price target of $172.
- Morgan Stanley has decided to maintain their Overweight rating on American Express, which currently sits at a price target of $188.
- Citigroup has decided to maintain their Sell rating on American Express, which currently sits at a price target of $150.
- RBC Capital has decided to maintain their Sector Perform rating on American Express, which currently sits at a price target of $181.
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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