Whales with a lot of money to spend have taken a noticeably bearish stance on American Express.
Looking at options history for American Express AXP we detected 17 trades.
If we consider the specifics of each trade, it is accurate to state that 41% of the investors opened trades with bullish expectations and 58% with bearish.
From the overall spotted trades, 9 are puts, for a total amount of $435,951 and 8, calls, for a total amount of $334,489.
Projected Price Targets
After evaluating the trading volumes and Open Interest, it's evident that the major market movers are focusing on a price band between $150.0 and $200.0 for American Express, spanning the last three months.
Insights into Volume & Open Interest
In terms of liquidity and interest, the mean open interest for American Express options trades today is 864.36 with a total volume of 1,127.00.
In the following chart, we are able to follow the development of volume and open interest of call and put options for American Express's big money trades within a strike price range of $150.0 to $200.0 over the last 30 days.
American Express Option Volume And Open Interest Over Last 30 Days
Significant Options Trades Detected:
| Symbol | PUT/CALL | Trade Type | Sentiment | Exp. Date | Strike Price | Total Trade Price | Open Interest | Volume |
|---|---|---|---|---|---|---|---|---|
| AXP | CALL | SWEEP | BEARISH | 09/20/24 | $170.00 | $95.7K | 203 | 28 |
| AXP | PUT | SWEEP | BULLISH | 01/17/25 | $160.00 | $89.2K | 1.2K | 0 |
| AXP | PUT | SWEEP | BEARISH | 01/17/25 | $160.00 | $65.7K | 1.2K | 252 |
| AXP | PUT | SWEEP | BEARISH | 09/20/24 | $170.00 | $60.2K | 7 | 40 |
| AXP | PUT | SWEEP | BULLISH | 01/17/25 | $160.00 | $45.1K | 1.2K | 167 |
About American Express
American Express is a global financial institution, operating in about 130 countries, that provides consumers and businesses charge and credit card payment products. The company also operates a highly profitable merchant payment network. Since 2018, it has operated in three segments: global consumer services, global commercial services, and global merchant and network services. In addition to payment products, the company's commercial business offers expense management tools, consulting services, and business loans.
Having examined the options trading patterns of American Express, our attention now turns directly to the company. This shift allows us to delve into its present market position and performance
American Express's Current Market Status
- With a trading volume of 998,928, the price of AXP is down by -0.37%, reaching $163.25.
- Current RSI values indicate that the stock is may be overbought.
- Next earnings report is scheduled for 66 days from now.
Professional Analyst Ratings for American Express
Over the past month, 5 industry analysts have shared their insights on this stock, proposing an average target price of $169.8.
- Reflecting concerns, an analyst from Barclays lowers its rating to Overweight with a new price target of $184.
- Consistent in their evaluation, an analyst from Morgan Stanley keeps a Overweight rating on American Express with a target price of $175.
- An analyst from RBC Capital has decided to maintain their Outperform rating on American Express, which currently sits at a price target of $185.
- An analyst from Piper Sandler upgraded its action to Neutral with a price target of $151.
- An analyst from Citigroup has elevated its stance to Neutral, setting a new price target at $154.
Options trading presents higher risks and potential rewards. Astute traders manage these risks by continually educating themselves, adapting their strategies, monitoring multiple indicators, and keeping a close eye on market movements. Stay informed about the latest American Express options trades with real-time alerts from Benzinga Pro.
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
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