This Is What Whales Are Betting On American Express

This Is What Whales Are Betting On American Express

 

Someone with a lot of money to spend has taken a bearish stance on American Express AXP.

And retail traders should know.

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 12 uncommon options trades for American Express.

This isn't normal.

The overall sentiment of these big-money traders is split between 41% bullish and 58%, bearish.

Out of all of the special options we uncovered, 5 are puts, for a total amount of $171,645, and 7 are calls, for a total amount of $355,596.

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 $140.0 to $175.0 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 2064.78 with a total volume of 827.00.

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 $140.0 to $175.0 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 TRADE BULLISH 09/16/22 $155.00 $116.0K 802 103
AXP CALL SWEEP BEARISH 08/19/22 $160.00 $48.5K 8.9K 182
AXP PUT SWEEP BEARISH 01/20/23 $155.00 $47.0K 4.1K 72
AXP CALL SWEEP BULLISH 01/20/23 $175.00 $43.6K 1.8K 71
AXP CALL SWEEP BULLISH 06/16/23 $170.00 $41.1K 712 24

Where Is American Express Standing Right Now?

  • With a volume of 909,584, the price of AXP is up 2.84% at $163.31.
  • RSI indicators hint that the underlying stock may be overbought.
  • Next earnings are expected to be released in 72 days.

What The Experts Say On American Express:

  • RBC Capital has decided to maintain their Sector Perform rating on American Express, which currently sits at a price target of $180.
  • Morgan Stanley has decided to maintain their Equal-Weight rating on American Express, which currently sits at a price target of $155.
  • Wells Fargo has decided to maintain their Overweight rating on American Express, which currently sits at a price target of $190.
  • Stephens & Co. has decided to maintain their Equal-Weight rating on American Express, which currently sits at a price target of $157.
  • BMO Capital has decided to maintain their Market Perform rating on American Express, which currently sits at a price target of $169.

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.

Posted In: BZI-UOAOptionsMarkets