Looking At FedEx's Recent Unusual Options Activity
Portfolio Pulse from Benzinga Insights
A significant bearish stance on FedEx (NYSE:FDX) has been observed through unusual options activity. The sentiment among these big-money traders is 5% bullish and 94% bearish. The whales have been targeting a price range from $210.0 to $280.0 for FedEx over the last 3 months. Currently, the price of FDX is down -0.69% at $263.08. Stephens & Co. downgraded its action to Overweight with a price target of $290.
August 18, 2023 | 4:16 pm
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Bearish options activity indicates potential downward pressure on FedEx's stock price.
The unusual options activity, with a 94% bearish sentiment, suggests that big-money traders expect FedEx's stock price to decrease. This could put downward pressure on the stock price in the short term.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100