This Is What Whales Are Betting On American Express
Deep-pocketed investors have adopted a bearish approach towards American Express AXP, and it’s something market players shouldn’t ignore. Our tracking of public options records at Benzinga unveiled this significant move today. The identity of these investors remains unknown, but such a substantial move in AXP usually suggests something big is about to happen.
We gleaned this information from our observations today when Benzinga’s options scanner highlighted 9 extraordinary options activities for American Express. This level of activity is out of the ordinary.
The general mood among these heavyweight investors is divided, with 11% leaning bullish and 55% bearish. Among these notable options, 7 are puts, totaling $261,890, and 2 are calls, amounting to $60,356.
Projected Price Targets
Based on the trading activity, it appears that the significant investors are aiming for a price territory stretching from $155.0 to $250.0 for American Express over the recent three months.
Insights into Volume & Open Interest
In terms of liquidity and interest, the mean open interest for American Express options trades today is 805.0 with a total volume of 2,274.00.
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 $155.0 to $250.0 over the last 30 days.
American Express Option Activity Analysis: Last 30 Days
Largest Options Trades Observed:
| Symbol | PUT/CALL | Trade Type | Sentiment | Exp. Date | Ask | Bid | Price | Strike Price | Total Trade Price | Open Interest | Volume |
|---|---|---|---|---|---|---|---|---|---|---|---|
| AXP | PUT | SWEEP | BEARISH | 09/13/24 | $4.8 | $4.0 | $4.8 | $247.50 | $54.7K | 1.1K | 232 |
| AXP | PUT | TRADE | NEUTRAL | 09/13/24 | $5.05 | $4.1 | $4.55 | $247.50 | $49.1K | 1.1K | 525 |
| AXP | PUT | TRADE | NEUTRAL | 09/13/24 | $5.25 | $4.2 | $4.7 | $247.50 | $39.0K | 1.1K | 744 |
| AXP | PUT | SWEEP | BEARISH | 09/13/24 | $2.87 | $2.56 | $2.87 | $245.00 | $35.6K | 512 | 138 |
| AXP | CALL | SWEEP | BEARISH | 10/18/24 | $7.55 | $7.25 | $7.25 | $250.00 | $33.3K | 1.5K | 46 |
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.
Following our analysis of the options activities associated with American Express, we pivot to a closer look at the company’s own performance.
Where Is American Express Standing Right Now?
- Currently trading with a volume of 52,040, the AXP’s price is down by -0.37%, now at $244.51.
- RSI readings suggest the stock is currently is currently neutral between overbought and oversold.
- Anticipated earnings release is in 37 days.
What Analysts Are Saying About American Express
In the last month, 1 experts released ratings on this stock with an average target price of $263.0.
- In a cautious move, an analyst from B of A Securities downgraded its rating to Neutral, setting a price target of $263.
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 Express, Benzinga Pro gives you real-time options trades alerts.
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