Looking At American Express's Recent Unusual Options Activity
Portfolio Pulse from Benzinga Insights
Recent unusual options activity on American Express (NYSE:AXP) indicates a bearish stance by big-money investors, with a split sentiment of 46% bullish and 53% bearish. A total of 28 uncommon options trades were spotted, with puts totaling $1,043,273 and calls at $571,557. The focus is on a price band between $160.0 and $260.0. The current stock price is $227.41, with a slight decrease of -0.12%, and an RSI suggesting a potential overbought condition. An analyst from Evercore ISI Group maintains an In-Line rating with a target price of $243.
April 01, 2024 | 7:16 pm
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Unusual options activity and a bearish stance by big-money investors indicate potential volatility for American Express. The stock's slight decrease and potential overbought condition, alongside an In-Line rating from Evercore ISI, suggest cautious short-term outlook.
The bearish sentiment from big-money investors, indicated by the unusual options activity, suggests that there may be concerns about American Express's short-term prospects. The slight price decrease and the RSI approaching overbought territory further support a cautious outlook. However, the maintained In-Line rating and target price by Evercore ISI provide a counterbalance, suggesting that the underlying fundamentals may still be strong. The combination of these factors leads to a prediction of potential short-term volatility.
CONFIDENCE 75
IMPORTANCE 85
RELEVANCE 100