This Is What Whales Are Betting On FedEx
Portfolio Pulse from Benzinga Insights
Benzinga's options scanner revealed significant trading activity on FedEx (NYSE:FDX) options, with over 12 transactions totaling $641,251. Analysis of these trades suggests a bullish sentiment among investors, targeting a price range of $195.0 to $290.0 for FedEx in the coming three months. The trading volume and open interest in FedEx options have shown notable activity, particularly in calls and puts within the $195.0 to $290.0 strike price range. FedEx's current stock price is $254.56, with a slight decrease of -0.26%, and its RSI indicates it may be overbought. Analysts have set an average target price of $195.0 for FedEx, with Morgan Stanley maintaining an Equal-Weight rating.
March 14, 2024 | 2:47 pm
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Significant options trading activity on FedEx indicates a bullish sentiment among investors, with a target price range of $195.0 to $290.0. The stock's slight decrease and potential overbought status may affect short-term performance.
The significant options trading activity, particularly the bullish sentiment reflected in both call and put options, indicates strong investor confidence in FedEx's potential to reach the targeted price range. However, the current slight decrease in stock price and the indication of being potentially overbought could temper short-term gains. Analyst ratings, especially the consistent Equal-Weight rating from Morgan Stanley with a target price of $195, further support the notion of a cautious but optimistic outlook for FedEx.
CONFIDENCE 85
IMPORTANCE 90
RELEVANCE 100