American Express Unusual Options Activity For July 23
Portfolio Pulse from Benzinga Insights
Financial giants have made a bearish move on American Express (NYSE:AXP) with 10 unusual options trades, all showing bearish tendencies. The stock is currently trading at $246.9, up by 0.88%, with an RSI suggesting it may be approaching overbought. Analysts have mixed ratings with an average price target of $261.6.
July 23, 2024 | 8:31 pm
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American Express has seen significant bearish options activity with 10 unusual trades, all indicating bearish sentiment. The stock is currently trading at $246.9, up by 0.88%, but RSI readings suggest it may be approaching overbought. Analysts have mixed ratings with an average price target of $261.6.
The 100% bearish sentiment in the options market suggests that major market players expect a decline in AXP's stock price. Despite the current price increase and mixed analyst ratings, the bearish options activity is a strong indicator of potential short-term downward pressure.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100