American Express Unusual Options Activity For September 07
Portfolio Pulse from Benzinga Insights
A significant bearish stance has been observed in American Express (NYSE:AXP) options trading. Of the 10 unusual trades detected, 70% were bearish and 30% bullish. The total amount for the 7 puts was $1,127,348 and for the 3 calls was $149,109. Whales have been targeting a price range from $150.0 to $170.0 for American Express over the last 3 months. RBC Capital upgraded its action to Outperform with a price target of $200.
September 07, 2023 | 5:31 pm
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Bearish stance observed in American Express options trading could impact the stock price. RBC Capital's upgrade to Outperform with a $200 target could provide a positive push.
The bearish stance in options trading indicates a negative sentiment among investors, which could drive the stock price down. However, the upgrade by RBC Capital to Outperform with a $200 target could counteract this to some extent, providing a positive push.
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