American Express Stock Sees Post-Earnings Options Barrage

AXP options volume is running at six times the amount typically seen at this point

Deputy Editor
Oct 20, 2023 at 10:19 AM
facebook X logo linkedin


Dow staple American Express Company (NYSE:AXP) is suffering a post-earnings pullback, with the shares last seen 2.1% lower at $146.45 and weighing on the blue-chip index today. 

While robust spending helped the credit card company turn in adjusted third-quarter earnings of $3.30 on revenue of $15.38 billion -- both beating analysts' expectations -- American Express reported net write-offs and delinquency rates that were below pre-pandemic levels, sparking fears of increased debt defaults.

AXP's typically quiet options pits are jumping with activity following the event. The 7,464 calls and 4,356 puts exchanged so far today account for six times that average intraday amount. Most popular by far is the monthly October 150 call that expires at the end of today's session. 

This interest in bullish bets marks a shift, however, as data from the International Securities Exchange (ISE), Chicago Board Options Exchange (CBOE), and NASDAQ OMX PHLX (PHLX) shows. In fact, American Express stock's 50-day put/call volume ratio of 1.19 sits in the 80th annual percentile. Echoing this, its Schaeffer's put/call open interest ratio (SOIR) of 1.19 ranks higher than 94% of annual readings, meaning near-term put open interest outnumbers call open interest. 

On the charts, AXP has now ceded its year-to-date breakeven level, and only maintains a razor-thin 2.9% year-over-year lead. The shares have encountered stiff resistance at their descending 50-day moving average, a trendline that contained rallies in the last two months.

 

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