A whale with a lot of money to spend has taken a noticeably bearish stance on American Express.
Looking at options history for American Express (NYSE:AXP) we detected 30 strange trades.
If we consider the specifics of each trade, it is accurate to state that 46% of the investors opened trades with bullish expectations and 53% with bearish.
From the overall spotted trades, 21 are puts, for a total amount of $1,350,191 and 9, calls, for a total amount of $455,020.
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 $110.0 to $197.5 for American Express over the last 3 months.
Volume & Open Interest Development
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 $110.0 to $197.5 in the last 30 days.
American Express 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 |
|---|---|---|---|---|---|---|---|---|
| AXP | PUT | SWEEP | BULLISH | 09/16/22 | $180.00 | $195.5K | 178 | 309 |
| AXP | PUT | SWEEP | BEARISH | 03/18/22 | $185.00 | $186.7K | 1.0K | 9 |
| AXP | CALL | TRADE | BULLISH | 01/20/23 | $160.00 | $103.0K | 1.0K | 45 |
| AXP | PUT | SWEEP | BULLISH | 04/14/22 | $185.00 | $91.5K | 1.1K | 590 |
| AXP | CALL | TRADE | BULLISH | 01/20/23 | $160.00 | $82.6K | 1.0K | 20 |
Where Is American Express Standing Right Now?
- With a volume of 2,379,705, the price of AXP is down -1.62% at $189.31.
- RSI indicators hint that the underlying stock may be approaching overbought.
- Next earnings are expected to be released in 58 days.
What The Experts Say On American Express:
- Deutsche Bank has decided to maintain their Buy rating on American Express, which currently sits at a price target of $210.
- Barclays has decided to maintain their Equal-Weight rating on American Express, which currently sits at a price target of $190.
- Daiwa Capital upgraded its action to Buy with a price target of $215
- B of A Securities upgraded its action to Buy with a price target of $204
- Credit Suisse has decided to maintain their Underperform rating on American Express, which currently sits at a price target of $170.
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 are already an options trader or would like to get started, head on over to Benzinga Pro. Benzinga Pro gives you up-to-date news and analytics to empower your investing and trading strategy.
