Market Whales and Their Recent Bets on FDX Options

Author: Benzinga Insights | July 16, 2024 12:15pm

Financial giants have made a conspicuous bullish move on FedEx. Our analysis of options history for FedEx (NYSE:FDX) revealed 17 unusual trades.

Delving into the details, we found 47% of traders were bullish, while 29% showed bearish tendencies. Out of all the trades we spotted, 5 were puts, with a value of $198,825, and 12 were calls, valued at $1,413,922.

What's The Price Target?

Analyzing the Volume and Open Interest in these contracts, it seems that the big players have been eyeing a price window from $240.0 to $330.0 for FedEx during the past quarter.

Analyzing Volume & Open Interest

Looking at the volume and open interest is a powerful move while trading options. This data can help you track the liquidity and interest for FedEx's options for a given strike price. Below, we can observe the evolution of the volume and open interest of calls and puts, respectively, for all of FedEx's whale trades within a strike price range from $240.0 to $330.0 in the last 30 days.

FedEx 30-Day Option Volume & Interest Snapshot

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	BULLISH	08/16/24	$4.45	$4.25	$4.44	$320.00	$444.0K	765	379
FDX	CALL	SWEEP	BULLISH	10/18/24	$77.0	$75.0	$75.05	$240.00	$375.0K	191	15
FDX	CALL	SWEEP	NEUTRAL	08/16/24	$33.0	$31.6	$33.0	$280.00	$169.6K	698	51
FDX	CALL	SWEEP	BULLISH	10/18/24	$75.0	$73.4	$75.0	$240.00	$75.0K	191	70
FDX	CALL	TRADE	BULLISH	10/18/24	$75.0	$73.5	$75.0	$240.00	$75.0K	191	5

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.

FedEx's Current Market Status

• With a volume of 1,029,043, the price of FDX is up 2.44% at $312.46.
• RSI indicators hint that the underlying stock may be overbought.
• Next earnings are expected to be released in 64 days.

Professional Analyst Ratings for FedEx

A total of 5 professional analysts have given their take on this stock in the last 30 days, setting an average price target of $333.6.

• An analyst from Raymond James has decided to maintain their Outperform rating on FedEx, which currently sits at a price target of $335.
• Reflecting concerns, an analyst from Stifel lowers its rating to Buy with a new price target of $327.
• An analyst from B of A Securities has decided to maintain their Buy rating on FedEx, which currently sits at a price target of $347.
• Consistent in their evaluation, an analyst from Wells Fargo keeps a Equal-Weight rating on FedEx with a target price of $300.
• Showing optimism, an analyst from JP Morgan upgrades its rating to Overweight with a revised price target of $359.

Options trading presents higher risks and potential rewards. Astute traders manage these risks by continually educating themselves, adapting their strategies, monitoring multiple indicators, and keeping a close eye on market movements. Stay informed about the latest FedEx options trades with real-time alerts from Benzinga Pro.

Posted In: FDX