2 Logistics Stocks in Focus After Earnings

Options bears are taking interest in CSX today

Digital Content Manager
Jul 21, 2023 at 10:39 AM
facebook X logo linkedin

Logistics stocks CSX Corporation (NASDAQ:CSX) and Knight-Swift Transportation Holdings Inc (NYSE:KNX) are moving in opposite directions today, after the two companies' second-quarter earnings reports. Below, let's dive deeper into what is driving their price action.

CSX was last seen down 4.8% at $32.11, after the rail transportation concern reported a revenue miss due to declining intermodal volumes and lower fuel prices. This resulted in two price-target cuts, with RBC cutting its objective by $1 to $35. The stock is slipping below support from its 20-day moving average, as it trades at its lowest level since mid-June.

Bearish bets are already running at 11 times the intraday average volume, with 1,271 puts exchanged so far, compared to only 961 calls. Most popular is the July 33.50 put, which will expire at the close.

KNX is up 1.9% at $56.91 at last check, reversing premarket losses despite the freight transportation name's quarterly miss and lowered full-year outlook. The equity has struggled with overhead pressure at the $58 region since early March, but still added 20.9% in the last nine months.

Short-term options traders are bullish. This is per the security's Schaeffer's put/call open interest ratio (SOIR) of 3.95, which sits higher than just 29% of readings from the last year. 


Target Effortless Triple-Digit Gains Every Sunday Evening For Life!

This is your chance to triple your profit potential on Sunday evenings, without spending all your free time watching the market.

On Sundays, as a Weekend Plus subscriber, you’ll get up to 6 trades every Sunday, each targeting gains of 200% or more.

Start targeting gains like the ones our subscribers have seen recently, including:

213.3% GAIN on AutoNation calls
100.0% GAIN on Monster Beverage calls
100.4% GAIN on Walgreens Boots Alliance puts
100.4% GAIN on ON Semiconductor calls
257.7% GAIN on Dell calls

101.0% GAIN on Apollo Global Management calls
103.6% GAIN on JP Morgan  Chase calls
105.3% GAIN on DraftKings calls
101.3% GAIN on Airbnb calls
203.0% GAIN on Shopify calls
102.0% GAIN on Cboe Global Markets calls
100.9% GAIN on Boeing calls
102.1% GAIN on Microsoft puts
102.3% GAIN on First Solar calls
101.5% GAIN on PulteGroup calls
101.0% GAIN on Apple calls
209.4% GAIN on NXP Semiconductors calls
100.8% GAIN on Uber Technologies calls
100.4% GAIN on Academy Sports and Outdoors puts
102.2% GAIN on Trade Desk calls
100.8% GAIN on DoorDash calls
100.0% GAIN on Camping World Holdings puts
100.0% GAIN on Cboe Global Markets calls
100.2% GAIN on C3.ai calls
238.5% GAIN on Oracle calls



Rainmaker Ads CGI