UPDATE: Bullish Options Activity in FedEx (FDX) Targets Upside Despite High Labor Costs & Amazon (AMZN) Last-Mile Competition Concerns -Susquehanna

Susquehanna options strategist Alison Edwards notes bullish options activity in FedEx (NYSE: FDX), as an opening investor bought 5k Oct 250/260 call spreads for $2.40, untied. This investor opens upside exposure (capped at $260), breaking even on a ~3% rally in the underlying. Note that the company fell by ~5.5% on Tuesday related to unexpectedly high labor costs and has been under pressure previously on speculation that (NASDAQ: AMZN) was building out its delivery capabilities.

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