Looking At FedEx's Recent Unusual Options Activity

Author: Benzinga Insights | July 09, 2024 11:46am

Whales with a lot of money to spend have taken a noticeably bearish stance on FedEx.

Looking at options history for FedEx (NYSE:FDX) we detected 8 trades.

If we consider the specifics of each trade, it is accurate to state that 25% of the investors opened trades with bullish expectations and 62% with bearish.

From the overall spotted trades, 4 are puts, for a total amount of $135,050 and 4, calls, for a total amount of $161,905.

Expected Price Movements

Taking into account the Volume and Open Interest on these contracts, it appears that whales have been targeting a price range from $250.0 to $310.0 for FedEx over the last 3 months.

Analyzing Volume & Open Interest

In terms of liquidity and interest, the mean open interest for FedEx options trades today is 711.33 with a total volume of 79.00.

In the following chart, we are able to follow the development of volume and open interest of call and put options for FedEx's big money trades within a strike price range of $250.0 to $310.0 over the last 30 days.

FedEx Call and Put Volume: 30-Day Overview

Largest Options Trades Observed:

Symbol	PUT/CALL	Trade Type	Sentiment	Exp. Date	Ask	Bid	Price	Strike Price	Total Trade Price	Open Interest	Volume
FDX	CALL	TRADE	NEUTRAL	10/18/24	$50.25	$48.95	$49.5	$250.00	$49.5K	174	0
FDX	CALL	TRADE	BEARISH	10/18/24	$49.6	$48.6	$49.0	$250.00	$49.0K	174	10
FDX	PUT	TRADE	BULLISH	07/19/24	$4.2	$4.15	$4.15	$295.00	$41.5K	1.1K	49
FDX	PUT	TRADE	BULLISH	10/18/24	$16.85	$16.5	$16.5	$300.00	$41.2K	294	0
FDX	CALL	TRADE	BEARISH	09/20/24	$40.7	$40.55	$40.55	$260.00	$32.4K	546	0

About FedEx

FedEx pioneered overnight delivery in 1973 and remains the world's largest express package provider. In its fiscal 2024, which ended May 2024, FedEx derived 47% of revenue from its express division, 37% from ground, and 10% from freight, its asset-based less-than-truckload shipping segment. The remainder comes from other services, including FedEx Office, which provides document production/shipping, and FedEx Logistics, which provides global forwarding. FedEx acquired Dutch parcel delivery firm TNT Express in 2016, boosting the firm's presence across Europe. TNT was previously the fourth-largest global parcel delivery provider.

After a thorough review of the options trading surrounding FedEx, we move to examine the company in more detail. This includes an assessment of its current market status and performance.

Where Is FedEx Standing Right Now?

• With a trading volume of 269,288, the price of FDX is up by 0.21%, reaching $296.15.
• Current RSI values indicate that the stock is may be overbought.
• Next earnings report is scheduled for 71 days from now.

What The Experts Say On FedEx

Over the past month, 5 industry analysts have shared their insights on this stock, proposing an average target price of $333.2.

• Maintaining their stance, an analyst from Goldman Sachs continues to hold a Buy rating for FedEx, targeting a price of $333.
• Showing optimism, an analyst from JP Morgan upgrades its rating to Overweight with a revised price target of $359.
• An analyst from Wells Fargo has decided to maintain their Equal-Weight rating on FedEx, which currently sits at a price target of $300.
• Maintaining their stance, an analyst from Argus Research continues to hold a Buy rating for FedEx, targeting a price of $335.
• An analyst from Evercore ISI Group persists with their Outperform rating on FedEx, maintaining a target price of $339.

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 FedEx with Benzinga Pro for real-time alerts.

Posted In: FDX