High-rolling investors have positioned themselves bullish on American Tower AMT, and it's important for retail traders to take note. \This activity came to our attention today through Benzinga's tracking of publicly available options data. The identities of these investors are uncertain, but such a significant move in AMT often signals that someone has privileged information.
Today, Benzinga's options scanner spotted 9 options trades for American Tower. This is not a typical pattern.
The sentiment among these major traders is split, with 66% bullish and 22% bearish. Among all the options we identified, there was one put, amounting to $72,825, and 8 calls, totaling $1,158,396.
Expected Price Movements
Analyzing the Volume and Open Interest in these contracts, it seems that the big players have been eyeing a price window from $175.0 to $180.0 for American Tower during the past quarter.
Insights into Volume & Open Interest
In today's trading context, the average open interest for options of American Tower stands at 872.25, with a total volume reaching 5,471.00. The accompanying chart delineates the progression of both call and put option volume and open interest for high-value trades in American Tower, situated within the strike price corridor from $175.0 to $180.0, throughout the last 30 days.
American Tower Call and Put Volume: 30-Day Overview
Significant Options Trades Detected:
| Symbol | PUT/CALL | Trade Type | Sentiment | Exp. Date | Ask | Bid | Price | Strike Price | Total Trade Price | Open Interest | Volume |
|---|---|---|---|---|---|---|---|---|---|---|---|
| AMT | CALL | TRADE | BULLISH | 07/19/24 | $8.3 | $7.9 | $8.3 | $180.00 | $498.0K | 475 | 674 |
| AMT | CALL | TRADE | BULLISH | 07/19/24 | $7.5 | $7.3 | $7.5 | $180.00 | $450.0K | 475 | 1.8K |
| AMT | PUT | SWEEP | BULLISH | 10/18/24 | $14.8 | $14.4 | $14.57 | $180.00 | $72.8K | 277 | 34 |
| AMT | CALL | SWEEP | BULLISH | 07/19/24 | $10.2 | $9.9 | $10.2 | $175.00 | $70.3K | 112 | 109 |
| AMT | CALL | SWEEP | BULLISH | 05/17/24 | $3.3 | $3.1 | $3.3 | $180.00 | $33.0K | 2.6K | 880 |
About American Tower
American Tower owns and operates more than 220,000 cell towers throughout the U.S., Asia, Latin America, Europe, and Africa. It also owns and/or operates 28 data centers in 10 U.S. markets after acquiring CoreSite. On its towers, the company has a very concentrated customer base, with most revenue in each market being generated by just the top few mobile carriers. The company operates more than 40,000 towers in the U.S., which accounted for almost half of the company's total revenue in 2023. Outside the U.S., American Tower operates over 75,000 towers in India, almost 50,000 towers in Latin America (dominated by Brazil), 30,000 towers in Europe, and nearly 25,000 towers in Africa. American Tower operates as an REIT.
Having examined the options trading patterns of American Tower, our attention now turns directly to the company. This shift allows us to delve into its present market position and performance
American Tower's Current Market Status
- Currently trading with a volume of 2,183,327, the AMT's price is up by 3.74%, now at $177.98.
- RSI readings suggest the stock is currently is currently neutral between overbought and oversold.
- Anticipated earnings release is in 85 days.
What Analysts Are Saying About American Tower
Over the past month, 4 industry analysts have shared their insights on this stock, proposing an average target price of $217.25.
- An analyst from Raymond James upgraded its action to Strong Buy with a price target of $248.
- Maintaining their stance, an analyst from BMO Capital continues to hold a Outperform rating for American Tower, targeting a price of $220.
- An analyst from Mizuho has revised its rating downward to Neutral, adjusting the price target to $205.
- Maintaining their stance, an analyst from Morgan Stanley continues to hold a Equal-Weight rating for American Tower, targeting a price of $196.
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 American Tower with Benzinga Pro for real-time alerts.
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
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