Deep-pocketed investors have adopted a bearish approach towards FedEx FDX, and it's something market players shouldn't ignore. Our tracking of public options records at Benzinga unveiled this significant move today. The identity of these investors remains unknown, but such a substantial move in FDX usually suggests something big is about to happen.
We gleaned this information from our observations today when Benzinga's options scanner highlighted 25 extraordinary options activities for FedEx. This level of activity is out of the ordinary.
The general mood among these heavyweight investors is divided, with 32% leaning bullish and 68% bearish. Among these notable options, 10 are puts, totaling $476,386, and 15 are calls, amounting to $1,371,661.
Projected Price Targets
Analyzing the Volume and Open Interest in these contracts, it seems that the big players have been eyeing a price window from $200.0 to $282.5 for FedEx during the past quarter.
Volume & Open Interest Trends
Examining the volume and open interest provides crucial insights into stock research. This information is key in gauging liquidity and interest levels for FedEx's options at certain strike prices. Below, we present a snapshot of the trends in volume and open interest for calls and puts across FedEx's significant trades, within a strike price range of $200.0 to $282.5, over the past month.
FedEx Option Volume And Open Interest Over Last 30 Days
Largest Options Trades Observed:
| Symbol | PUT/CALL | Trade Type | Sentiment | Exp. Date | Strike Price | Total Trade Price | Open Interest | Volume |
|---|---|---|---|---|---|---|---|---|
| FDX | CALL | SWEEP | BULLISH | 04/19/24 | $240.00 | $398.8K | 155 | 231 |
| FDX | CALL | TRADE | BEARISH | 03/15/24 | $200.00 | $251.2K | 126 | 0 |
| FDX | CALL | TRADE | BEARISH | 02/16/24 | $250.00 | $237.6K | 1.0K | 105 |
| FDX | PUT | TRADE | BEARISH | 01/19/24 | $270.00 | $180.0K | 1.3K | 129 |
| FDX | CALL | TRADE | BEARISH | 02/16/24 | $250.00 | $81.9K | 1.0K | 527 |
About FedEx
FedEx pioneered overnight delivery in 1973 and remains the world's largest express package provider. In its fiscal 2023, which ended May 2023, FedEx derived 47% of revenue from its express division, 37% from ground, and 11% from freight, its asset-based less-than-truckload shipping segment. The remainder comes from other services, including FedEx Office, which provides document production/shipping, and FedEx Logistics, which provides global forwarding. FedEx acquired Dutch parcel delivery firm TNT Express in 2016. TNT was previously the fourth-largest global parcel delivery provider.
Having examined the options trading patterns of FedEx, 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 FedEx
- With a volume of 4,160,295, the price of FDX is up 0.76% at $248.11.
- RSI indicators hint that the underlying stock may be approaching oversold.
- Next earnings are expected to be released in 84 days.
Expert Opinions on FedEx
Over the past month, 4 industry analysts have shared their insights on this stock, proposing an average target price of $302.5.
- Maintaining their stance, an analyst from JP Morgan continues to hold a Neutral rating for FedEx, targeting a price of $305.
- An analyst from Stephens & Co. has decided to maintain their Overweight rating on FedEx, which currently sits at a price target of $320.
- An analyst from Raymond James persists with their Outperform rating on FedEx, maintaining a target price of $275.
- Maintaining their stance, an analyst from Barclays continues to hold a Overweight rating for FedEx, targeting a price of $310.
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 FedEx with Benzinga Pro for real-time alerts.
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
Comments
Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.
