Benzinga’s options scanner has identified over a dozen option transactions on American Tower (NYSE: AMT), totaling $799,652. Concurrently, algorithmic analysis found 9 puts valued at $705,932.
Predicted Price Movements
Analysis of trading volumes and Open Interest indicates a focus on a price range of $200.0 to $220.0 for American Tower over the past three months.
Insights into Trading Volumes & Open Interest
The mean open interest for American Tower options stands at 855.5 with a total volume of 13,506.00.
Observing the developments in volume and open interest of call and put options for American Tower within the $200.0 to $220.0 strike price range in the last 30 days gives us a clear picture of big money trades.
A Comprehensive Look at American Tower’s Call and Put Volume Over 30 Days
Significant Options Activity
| Symbol | PUT/CALL | Trade Type | Sentiment | Exp. Date | Ask | Bid | Price | Strike Price | Total Trade Price | Open Interest | Volume |
|---|---|---|---|---|---|---|---|---|---|---|---|
| AMT | PUT | SWEEP | BULLISH | 09/20/24 | $4.6 | $4.0 | $4.1 | $220.00 | $289.7K | 2.4K | 1.0K |
| AMT | PUT | SWEEP | BULLISH | 09/20/24 | $4.8 | $4.2 | $4.2 | $220.00 | $135.3K | 2.4K | 320 |
| AMT | CALL | TRADE | BULLISH | 08/16/24 | $14.2 | $13.7 | $14.2 | $210.00 | $93.7K | 579 | 88 |
| AMT | PUT | TRADE | BULLISH | 09/20/24 | $4.5 | $4.2 | $4.2 | $220.00 | $44.5K | 2.4K | 2.0K |
| AMT | PUT | TRADE | BULLISH | 09/20/24 | $4.3 | $4.0 | $4.0 | $220.00 | $42.4K | 2.4K | 1.9K |
Overview of American Tower
American Tower possesses a colossal empire of over 220,000 cell towers globally, stretching across the US, Asia, Latin America, Europe, and Africa. With an eye-catching acquisition of CoreSite, the company now boasts 28 data centers in 10 US markets. Its tower infrastructure attracts a concentrated clientele, with revenue from top mobile carriers dominating each market. In 2023, nearly half of the company’s revenue derived from its 40,000 US towers. Internationally, American Tower commands over 75,000 towers in India, nearly 50,000 towers in Latin America (mainly in Brazil), 30,000 towers in Europe, and close to 25,000 towers in Africa. Operating as a REIT, the company stands as a towering presence in the telecom infrastructure realm.
Now, delving into the recent options landscape for American Tower, it’s time to pivot towards evaluating the company’s current performance.
Current Market Position of American Tower
- With a trading volume of 2,289,241, American Tower’s stock is up by 0.23%, reaching $223.18.
- RSI indicators hint at a potential overbought condition in the stock.
- Earnings release is anticipated in 71 days.
Expert Opinions on American Tower
A consensus of 5 market experts projects a target price of $243.6 for this stock.
- BMO Capital’s analyst maintains an Outperform rating on American Tower with a target price of $246.
- Wells Fargo continues to recommend an Overweight rating for American Tower, targeting a price of $245.
- A JP Morgan analyst upholds an Overweight rating and a price target of $240 for the company.
- TD Cowen stands by their Buy rating for American Tower, with a target price of $239.
- An analyst at Scotiabank reiterates a Sector Outperform rating for American Tower, setting a price target of $248.
Options trading comes with elevated risks and potential rewards. Savvy traders navigate these risks through continuous education, adaptive strategies, vigilance over multiple indicators, and a keen watch on market dynamics. Stay updated on the latest American Tower options activities with real-time alerts from Benzinga Pro.
