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American Express's Options Frenzy: What You Need to Know

Author: Benzinga Insights | August 29, 2024 01:16pm

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 24 trades.

If we consider the specifics of each trade, it is accurate to state that 58% of the investors opened trades with bullish expectations and 33% with bearish.

From the overall spotted trades, 5 are puts, for a total amount of $261,030 and 19, calls, for a total amount of $4,508,729.

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 $320.0 for American Express during the past quarter.

Analyzing Volume & Open Interest

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 $240.0 to $320.0, over the past month.

American Express Call and Put Volume: 30-Day Overview

Options Call Chart

Largest Options Trades Observed:

Symbol PUT/CALL Trade Type Sentiment Exp. Date Ask Bid Price Strike Price Total Trade Price Open Interest Volume
AXP CALL TRADE BULLISH 01/16/26 $15.1 $14.4 $15.0 $320.00 $2.3M 46.5K 1.7K
AXP CALL TRADE NEUTRAL 01/16/26 $32.95 $32.05 $32.5 $270.00 $487.5K 136 150
AXP CALL TRADE BEARISH 01/16/26 $38.45 $36.5 $37.05 $260.00 $222.3K 1.7K 60
AXP CALL SWEEP BEARISH 03/21/25 $10.45 $10.25 $10.45 $290.00 $158.8K 384 160
AXP CALL SWEEP BULLISH 01/16/26 $15.0 $14.65 $15.0 $320.00 $135.0K 46.5K 1.8K

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.

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

Where Is American Express Standing Right Now?

  • Trading volume stands at 995,428, with AXP's price up by 1.41%, positioned at $260.71.
  • RSI indicators show the stock to be may be approaching overbought.
  • Earnings announcement expected in 50 days.

What The Experts Say On American Express

1 market experts have recently issued ratings for this stock, with a consensus target price of $263.0.

  • An analyst from B of A Securities downgraded its action to Neutral with a price target of $263.

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 American Express options trades with real-time alerts from Benzinga Pro.

Posted In: AXP

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