27% profit every 20 days?
This is what Nic Chahine averages with his option buys. Not selling covered calls or spreads… BUYING options. Most traders don’t even have a winning percentage of 27% buying options. He has an 83% win rate. Here’s how he does it.
Someone with a lot of money to spend has taken a bullish stance on American Express (NYSE:AXP).
And retail traders should know.
ENTER TO WIN $500 IN STOCK OR CRYPTO
Enter your email and you'll also get Benzinga's ultimate morning update AND a free $30 gift card and more!
We noticed this today when the big position showed up on publicly available options history that we track here at Benzinga.
Whether this is an institution or just a wealthy individual, 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 this whale just did?
Today, Benzinga's options scanner spotted 16 uncommon options trades for American Express.
This isn't normal.
The overall sentiment of these big-money traders is split between 56% bullish and 43%, bearish.
Out of all of the special options we uncovered, 5 are puts, for a total amount of $290,335, and 11 are calls, for a total amount of $678,504.
What's The Price Target?
FREE REPORT: How To Learn Options Trading Fast
In this special report, you will learn the four best strategies for trading options, how to stay safe as a complete beginner, a 411% trade case study, PLUS how to access two new potential winning options trades starting today.Claim Your Free Report Here.
Taking into account the Volume and Open Interest on these contracts, it appears that whales have been targeting a price range from $120.0 to $230.0 for American Express over the last 3 months.
Volume & Open Interest Development
In terms of liquidity and interest, the mean open interest for American Express options trades today is 550.92 with a total volume of 1,846.00.
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 $120.0 to $230.0 over 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 | CALL | SWEEP | BULLISH | 03/24/23 | $160.00 | $267.5K | 96 | 506 |
| AXP | PUT | TRADE | BEARISH | 01/19/24 | $120.00 | $166.5K | 1.3K | 301 |
| AXP | CALL | SWEEP | BULLISH | 03/31/23 | $155.00 | $79.1K | 4 | 0 |
| AXP | CALL | TRADE | BULLISH | 04/06/23 | $140.00 | $64.0K | 0 | 89 |
| AXP | CALL | SWEEP | BEARISH | 04/21/23 | $160.00 | $56.2K | 2.1K | 20 |
Where Is American Express Standing Right Now?
- With a volume of 1,997,534, the price of AXP is down -2.29% at $161.9.
- RSI indicators hint that the underlying stock may be oversold.
- Next earnings are expected to be released in 39 days.
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.
27% profit every 20 days?
This is what Nic Chahine averages with his option buys. Not selling covered calls or spreads… BUYING options. Most traders don’t even have a winning percentage of 27% buying options. He has an 83% win rate. Here’s how he does it.