American Express Options Trading: A Deep Dive into Market Sentiment

Author: Benzinga Insights | May 30, 2024 04:16pm

Whales with a lot of money to spend have taken a noticeably bullish stance on American Express.

Looking at options history for American Express (NYSE:AXP) we detected 8 trades.

If we consider the specifics of each trade, it is accurate to state that 75% of the investors opened trades with bullish expectations and 12% with bearish.

From the overall spotted trades, 5 are puts, for a total amount of $420,925 and 3, calls, for a total amount of $97,233.

What's The Price Target?

Based on the trading activity, it appears that the significant investors are aiming for a price territory stretching from $230.0 to $250.0 for American Express over the recent three months.

Volume & Open Interest Development

Examining the volume and open interest provides crucial insights into stock research. This information is key in gauging liquidity and interest levels for American Express's options at certain strike prices. Below, we present a snapshot of the trends in volume and open interest for calls and puts across American Express's significant trades, within a strike price range of $230.0 to $250.0, over the past month.

American Express Option Activity Analysis: Last 30 Days

Biggest Options Spotted:

Symbol	PUT/CALL	Trade Type	Sentiment	Exp. Date	Ask	Bid	Price	Strike Price	Total Trade Price	Open Interest	Volume
AXP	PUT	TRADE	BULLISH	05/31/24	$4.7	$3.5	$3.5	$240.00	$172.2K	1.4K	1.0K
AXP	PUT	SWEEP	BULLISH	01/16/26	$23.4	$21.7	$22.1	$230.00	$77.3K	338	70
AXP	PUT	TRADE	BULLISH	05/31/24	$4.8	$3.75	$3.75	$240.00	$72.3K	1.4K	79
AXP	PUT	SWEEP	BULLISH	01/16/26	$22.5	$21.9	$22.1	$230.00	$59.6K	338	35
AXP	PUT	TRADE	BEARISH	01/17/25	$13.2	$12.85	$13.11	$230.00	$39.3K	1.5K	30

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.

Current Position of American Express

• With a trading volume of 2,268,903, the price of AXP is up by 0.54%, reaching $237.22.
• Current RSI values indicate that the stock is may be approaching overbought.
• Next earnings report is scheduled for 50 days from now.

What Analysts Are Saying About American Express

Over the past month, 2 industry analysts have shared their insights on this stock, proposing an average target price of $234.0.

• An analyst from RBC Capital persists with their Outperform rating on American Express, maintaining a target price of $263.
• An analyst from Baird persists with their Underperform rating on American Express, maintaining a target price of $205.

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 Express with Benzinga Pro for real-time alerts.

Posted In: AXP