FedEx Friday Expire Calls Fly
$FedEx (FDX.US)$ The firm jumped 14% Wednesday after reporting Q4 earnings Tuesday just above expectations, but investors watched the firm's cost-cutting and full-year 2025 guidance. The company cut costs by 16% and expects this next fiscal year 2025 to go the same, with up to $2B in savings from cost-cutting programs.
In part after the news, options contracts on the stock flew to the top 20 in the entire U.S. market by trading volume. Overall, 195k contracts traded hands Wednesday, at one point in the top five for all stocks and equities.
![FedEx Friday Expire Calls Fly](https://ussnsimg.moomoo.com/sns_client_feed/73649557/20240627/1719428956436-f678884993.png/big?area=100&is_public=true)
One contract, the $300 call expiring Friday, saw the most volume, with 15k contracts changing hands. The contract climbed 188% in price Wednesday and gives holders the right to purchase Fedex at $300/share, for the median price of 96C a share for 100 shares.
![FedEx Friday Expire Calls Fly](https://ussnsimg.moomoo.com/sns_client_feed/73649557/20240627/1719429165637-8f4742c9e9.png/big?area=100&is_public=true)
Overall, the Put:Call ratio between open interest contracts was 40:60, puts to calls. Overall, traders swapped 9M shares Wednesday for a turnover of $2.68B.
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