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American Express AXP (news,
chart,
quote) - AXP put volume heavy; shares at 11-year low
AXP is recently down $2.50 to $17.55. AXP recently won U.S. Federal Reserve approval to become a commercial bank, gaining access to government funds. AXP call option volume of 14,302 contracts compares to put volume of 42,944 contracts. AXP November 17.5 straddle is priced at $3.30, December 17.5 is at $6.60. AXP December option implied volatility of 149 is above its 6-month average of 59 according to Track Data, suggesting larger price movement.
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