Investors with a lot of money to spend have taken a bullish stance on American Express AXP.
And retail traders should know.
We noticed this today when the trades showed up on publicly available options history that we track here at Benzinga.
Whether these are institutions or just wealthy individuals, we don't know. But when something this big happens with AXP, it often means somebody knows something is about to happen.
So how do we know what these investors just did?
Today, Benzinga's options scanner spotted 13 uncommon options trades for American Express.
This isn't normal.
The overall sentiment of these big-money traders is split between 53% bullish and 38%, bearish.
Out of all of the special options we uncovered, 8 are puts, for a total amount of $213,745, and 5 are calls, for a total amount of $603,070.
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 $190.0 to $240.0 for American Express over the last 3 months.
Volume & Open Interest Trends
Looking at the volume and open interest is an insightful way to conduct due diligence on a stock.
This data can help you track the liquidity and interest for American Express'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 Express's whale activity within a strike price range from $190.0 to $240.0 in the last 30 days.
American Express Option Volume And Open Interest Over Last 30 Days
Noteworthy Options Activity:
| Symbol | PUT/CALL | Trade Type | Sentiment | Exp. Date | Ask | Bid | Price | Strike Price | Total Trade Price | Open Interest | Volume |
|---|---|---|---|---|---|---|---|---|---|---|---|
| AXP | CALL | TRADE | BULLISH | 09/20/24 | $48.35 | $47.65 | $48.2 | $190.00 | $241.0K | 880 | 50 |
| AXP | CALL | TRADE | BEARISH | 10/18/24 | $14.55 | $14.3 | $14.4 | $240.00 | $129.6K | 185 | 140 |
| AXP | CALL | TRADE | BULLISH | 01/16/26 | $55.85 | $51.1 | $55.85 | $210.00 | $111.7K | 309 | 0 |
| AXP | CALL | SWEEP | BEARISH | 09/20/24 | $48.35 | $48.1 | $48.1 | $190.00 | $81.7K | 880 | 67 |
| AXP | CALL | TRADE | BEARISH | 05/10/24 | $13.2 | $13.0 | $13.0 | $220.00 | $39.0K | 97 | 30 |
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.
American Express's Current Market Status
- Currently trading with a volume of 1,685,240, the AXP's price is down by -0.67%, now at $232.47.
- RSI readings suggest the stock is currently may be approaching overbought.
- Anticipated earnings release is in 79 days.
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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