High-rolling investors have positioned themselves bearish on American Tower AMT, and it's important for retail traders to take note. \This activity came to our attention today through Benzinga's tracking of publicly available options data. The identities of these investors are uncertain, but such a significant move in AMT often signals that someone has privileged information.
Today, Benzinga's options scanner spotted 8 options trades for American Tower. This is not a typical pattern.
The sentiment among these major traders is split, with 25% bullish and 75% bearish. Among all the options we identified, there was one put, amounting to $159,035, and 7 calls, totaling $1,033,058.
Expected Price Movements
Taking into account the Volume and Open Interest on these contracts, it appears that whales have been targeting a price range from $160.0 to $220.0 for American Tower over the last 3 months.
Volume & Open Interest Development
Looking at the volume and open interest is a powerful move while trading options. This data can help you track the liquidity and interest for American Tower'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 Tower's whale trades within a strike price range from $160.0 to $220.0 in the last 30 days.
American Tower Call and Put Volume: 30-Day Overview
Largest Options Trades Observed:
| Symbol | PUT/CALL | Trade Type | Sentiment | Exp. Date | Strike Price | Total Trade Price | Open Interest | Volume |
|---|---|---|---|---|---|---|---|---|
| AMT | CALL | SWEEP | BULLISH | 01/19/24 | $200.00 | $336.0K | 2.9K | 461 |
| AMT | CALL | SWEEP | BEARISH | 01/19/24 | $200.00 | $282.2K | 2.9K | 872 |
| AMT | CALL | SWEEP | BEARISH | 01/19/24 | $200.00 | $202.0K | 2.9K | 503 |
| AMT | PUT | SWEEP | BEARISH | 01/17/25 | $220.00 | $159.0K | 137 | 60 |
| AMT | CALL | SWEEP | BEARISH | 01/19/24 | $200.00 | $106.2K | 2.9K | 747 |
About American Tower
American Tower owns and operates more than 220,000 cell towers throughout the U.S., Asia, Latin America, Europe, and Africa. It also owns and/or operates 28 data centers in 10 U.S. markets after acquiring CoreSite. On its towers, the company has a very concentrated customer base, with most revenue in each market being generated by just the top few mobile carriers. The company operates more than 40,000 towers in the U.S., which accounted for roughly half of the company's total revenue in 2022. Outside the U.S., American Tower operates over 75,000 towers in India, almost 50,000 towers in Latin America (dominated by Brazil), 30,000 towers in Europe, and nearly 25,000 towers in Africa. American Tower operates as an REIT.
Having examined the options trading patterns of American Tower, our attention now turns directly to the company. This shift allows us to delve into its present market position and performance
Present Market Standing of American Tower
- Currently trading with a volume of 816,673, the AMT's price is down by 0.0%, now at $205.6.
- RSI readings suggest the stock is currently may be approaching overbought.
- Anticipated earnings release is in 72 days.
Trading options involves greater risks but also offers the potential for higher profits. Savvy traders mitigate these risks through ongoing education, strategic trade adjustments, utilizing various indicators, and staying attuned to market dynamics. Keep up with the latest options trades for American Tower with Benzinga Pro for real-time alerts.
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
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