American Tower Options Trading: A Deep Dive into Market Sentiment

Investors with a lot of money to spend have taken a bullish stance on American Tower (NYSE:AMT).

And retail traders should know.

We noticed this today when the trades showed up on publicly available options history that we track here at Benzinga.

Whether these are institutions or just wealthy individuals, we don't know. But when something this big happens with AMT, it often means somebody knows something is about to happen.

So how do we know what these investors just did?

Today, Benzinga's options scanner spotted 11 uncommon options trades for American Tower.

This isn't normal.

The overall sentiment of these big-money traders is split between 63% bullish and 27%, bearish.

Out of all of the special options we uncovered, 2 are puts, for a total amount of $239,785, and 9 are calls, for a total amount of $2,058,083.

Expected Price Movements

Analyzing the Volume and Open Interest in these contracts, it seems that the big players have been eyeing a price window from $170.0 to $200.0 for American Tower during the past quarter.

Analyzing Volume & Open Interest

In today's trading context, the average open interest for options of American Tower stands at 1373.8, with a total volume reaching 5,728.00. The accompanying chart delineates the progression of both call and put option volume and open interest for high-value trades in American Tower, situated within the strike price corridor from $170.0 to $200.0, throughout the last 30 days.

American Tower 30-Day Option Volume & Interest Snapshot

Noteworthy Options Activity:

Symbol PUT/CALL Trade Type Sentiment Exp. Date Ask Bid Price Strike Price Total Trade Price Open Interest Volume
AMT CALL SWEEP BULLISH 07/19/24 $32.0 $30.6 $30.6 $170.00 $722.1K 2.3K 236
AMT CALL SWEEP BULLISH 07/19/24 $30.5 $30.4 $30.5 $170.00 $393.4K 2.3K 365
AMT CALL SWEEP BULLISH 07/19/24 $30.5 $30.4 $30.5 $170.00 $286.7K 2.3K 476
AMT CALL SWEEP BULLISH 07/19/24 $30.5 $30.4 $30.5 $170.00 $234.8K 2.3K 553
AMT PUT SWEEP NEUTRAL 07/19/24 $6.0 $5.8 $5.8 $200.00 $203.0K 411 358

About American Tower

American Tower owns and operates more than 220,000 cell towers throughout the us, Asia, Latin America, Europe, and Africa. It also owns and/or operates 28 data centers in 10 us markets after acquiring CoreSite. On its towers, the company has a very concentrated customer base, with most revenue in each market being generated by just the top few mobile carriers. The company operates more than 40,000 towers in the us, which accounted for almost half of the company's total revenue in 2023. Outside the us, American Tower operates over 75,000 towers in India, almost 50,000 towers in Latin America (dominated by Brazil), 30,000 towers in Europe, and nearly 25,000 towers in Africa. American Tower operates as an REIT.

Current Position of American Tower Currently trading with a volume of 2,124,927, the AMT's price is up by 0.19%, now at $197.34. RSI readings suggest the stock is currently may be overbought. Anticipated earnings release is in 51 days. What Analysts Are Saying About American Tower

Over the past month, 1 industry analysts have shared their insights on this stock, proposing an average target price of $223.0.

An analyst from Barclays persists with their Overweight rating on American Tower, maintaining a target price of $223.

Options are a riskier asset compared to just trading the stock, but they have higher profit potential. Serious options traders manage this risk by educating themselves daily, scaling in and out of trades, following more than one indicator, and following the markets closely.

If you want to stay updated on the latest options trades for American Tower, Benzinga Pro gives you real-time options trades alerts.

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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