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 9 extraordinary options activities for FedEx. This level of activity is out of the ordinary.
The general mood among these heavyweight investors is divided, with 44% leaning bullish and 55% bearish. Among these notable options, 5 are puts, totaling $216,745, and 4 are calls, amounting to $200,299.
Predicted Price Range
Based on the trading activity, it appears that the significant investors are aiming for a price territory stretching from $100.0 to $250.0 for FedEx over the recent three months.
Insights into Volume & Open Interest
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 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 trades within a strike price range from $100.0 to $250.0 in the last 30 days.
FedEx Call and Put Volume: 30-Day Overview
Biggest Options Spotted:
| Symbol | PUT/CALL | Trade Type | Sentiment | Exp. Date | Strike Price | Total Trade Price | Open Interest | Volume |
|---|---|---|---|---|---|---|---|---|
| FDX | PUT | SWEEP | BEARISH | 01/17/25 | $200.00 | $86.0K | 2.0K | 101 |
| FDX | CALL | SWEEP | NEUTRAL | 01/19/24 | $100.00 | $57.1K | 4 | 4 |
| FDX | CALL | TRADE | BULLISH | 01/17/25 | $250.00 | $54.1K | 420 | 0 |
| FDX | CALL | TRADE | BULLISH | 01/19/24 | $170.00 | $44.4K | 191 | 14 |
| FDX | CALL | TRADE | BULLISH | 01/19/24 | $170.00 | $44.4K | 191 | 8 |
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.
Current Position of FedEx
- Trading volume stands at 995,690, with FDX's price down by -1.03%, positioned at $242.51.
- RSI indicators show the stock to be is currently neutral between overbought and oversold.
- Earnings announcement expected in 57 days.
What Analysts Are Saying About FedEx
In the last month, 5 experts released ratings on this stock with an average target price of $310.0.
- An analyst from Barclays has decided to maintain their Overweight rating on FedEx, which currently sits at a price target of $310.
- An analyst from JP Morgan has decided to maintain their Neutral rating on FedEx, which currently sits at a price target of $305.
- An analyst from Stifel persists with their Buy rating on FedEx, maintaining a target price of $305.
- Maintaining their stance, an analyst from Stephens & Co. continues to hold a Overweight rating for FedEx, targeting a price of $320.
- An analyst from Melius Research has elevated its stance to Buy, setting a new price target at $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.
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