A whale with a lot of money to spend has taken a noticeably bearish stance on American Express.
Looking at options history for American Express AXP we detected 10 strange trades.
If we consider the specifics of each trade, it is accurate to state that 40% of the investors opened trades with bullish expectations and 60% with bearish.
From the overall spotted trades, 4 are puts, for a total amount of $179,289 and 6, calls, for a total amount of $363,148.
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 $145.0 to $170.0 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 $145.0 to $170.0 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 | TRADE | BULLISH | 10/20/23 | $152.50 | $143.0K | 894 | 581 |
| AXP | PUT | SWEEP | BEARISH | 01/19/24 | $170.00 | $63.4K | 3.6K | 0 |
| AXP | PUT | SWEEP | BULLISH | 03/15/24 | $145.00 | $59.6K | 38 | 97 |
| AXP | CALL | TRADE | BEARISH | 03/15/24 | $165.00 | $50.1K | 42 | 255 |
| AXP | CALL | TRADE | BEARISH | 03/15/24 | $165.00 | $49.7K | 42 | 85 |
Where Is American Express Standing Right Now?
- With a volume of 1,291,922, the price of AXP is down -1.29% at $152.4.
- RSI indicators hint that the underlying stock is currently neutral between overbought and oversold.
- Next earnings are expected to be released in 2 days.
What The Experts Say On American Express:
- HSBC downgraded its action to Buy with a price target of $181
- Piper Sandler has decided to maintain their Underweight rating on American Express, which currently sits at a price target of $150.
- Morgan Stanley has decided to maintain their Overweight rating on American Express, which currently sits at a price target of $185.
- JP Morgan has decided to maintain their Neutral rating on American Express, which currently sits at a price target of $167.
- Oppenheimer has decided to maintain their Outperform rating on American Express, which currently sits at a price target of $175.
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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