American Express's Options Frenzy: What You Need to Know
Portfolio Pulse from Benzinga Insights
A significant amount of unusual options activity on American Express (NYSE:AXP) has been detected, indicating a bullish sentiment among big-money investors. Benzinga's options scanner revealed 13 uncommon trades, with a split sentiment of 53% bullish and 38% bearish. The trades suggest a targeted price range for AXP between $190.0 to $240.0. Notable options activity includes both calls and puts with varying sentiments and strike prices. American Express, a global financial institution, is currently trading at $232.47, down by -0.67%, with an RSI suggesting it may be approaching overbought territory. The company's next earnings release is expected in 79 days.
May 01, 2024 | 4:33 pm
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American Express has seen unusual options activity indicating a bullish sentiment among investors, with a target price range of $190 to $240. The stock is currently trading at $232.47, down by -0.67%, and may be approaching overbought territory.
The unusual options activity, particularly the bullish sentiment among big-money investors, suggests a positive outlook for AXP's stock price in the short term. The detailed options trades and the current market status of American Express, including its trading volume and RSI, provide a comprehensive view of its potential movement. The anticipation of the earnings release in 79 days also adds to the relevance of this activity.
CONFIDENCE 85
IMPORTANCE 90
RELEVANCE 100