A whale with a lot of money to spend has taken a noticeably bearish stance on American Tower.
Looking at options history for American Tower AMT we detected 16 strange trades.
If we consider the specifics of each trade, it is accurate to state that 6% of the investors opened trades with bullish expectations and 93% with bearish.
From the overall spotted trades, 14 are puts, for a total amount of $1,151,780 and 2, calls, for a total amount of $68,400.
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 $155.0 to $220.0 for American Tower over the last 3 months.
Volume & Open Interest Development
In terms of liquidity and interest, the mean open interest for American Tower options trades today is 157.25 with a total volume of 9,044.00.
In the following chart, we are able to follow the development of volume and open interest of call and put options for American Tower's big money trades within a strike price range of $155.0 to $220.0 over the last 30 days.
American Tower 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 |
|---|---|---|---|---|---|---|---|---|
| AMT | PUT | SWEEP | BEARISH | 01/19/24 | $155.00 | $128.3K | 533 | 884 |
| AMT | PUT | SWEEP | BEARISH | 01/17/25 | $170.00 | $114.6K | 68 | 211 |
| AMT | PUT | SWEEP | BEARISH | 01/17/25 | $170.00 | $114.0K | 68 | 62 |
| AMT | PUT | TRADE | BULLISH | 01/19/24 | $155.00 | $100.4K | 533 | 1.0K |
| AMT | PUT | TRADE | BEARISH | 10/20/23 | $220.00 | $98.0K | 21 | 20 |
Where Is American Tower Standing Right Now?
- With a volume of 2,491,299, the price of AMT is down -4.56% at $169.32.
- RSI indicators hint that the underlying stock may be approaching oversold.
- Next earnings are expected to be released in 35 days.
What The Experts Say On American Tower:
- Morgan Stanley has decided to maintain their Equal-Weight rating on American Tower, which currently sits at a price target of $212.
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 Tower, 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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