Bonawyn Eison Sees Unusual Options Activity In American Express

published 24.07.2020 12:51

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On CNBC's "Options Action," Bonawyn Eison spoke about high options activity in American Express Company (NYSE: AXP) ahead of earnings.

The company reports earnings on Friday, before the market opens and the options market is implying a move of 3.5% in either direction.

The stock moves 2% on average for the event.

During the session on Thursday, Eison noticed a purchase of around 2,000 contracts of the July 24, $90 puts.

The average price for the trade was 20 cents, which sets the breakeven at $89.80 or around 7% lower from the closing price on Thursday.

by Craig Jones from benzinga.com

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