Deep-pocketed investors have adopted a bullish approach towards Wynn Resorts WYNN, and it's something market players shouldn't ignore. Our tracking of public options records at Benzinga unveiled this significant move today. The identity of these investors remains unknown, but such a substantial move in WYNN usually suggests something big is about to happen.
We gleaned this information from our observations today when Benzinga's options scanner highlighted 8 extraordinary options activities for Wynn Resorts. This level of activity is out of the ordinary.
The general mood among these heavyweight investors is divided, with 62% leaning bullish and 37% bearish. Among these notable options, 2 are puts, totaling $757,325, and 6 are calls, amounting to $280,104.
Expected Price Movements
After evaluating the trading volumes and Open Interest, it's evident that the major market movers are focusing on a price band between $87.5 and $120.0 for Wynn Resorts, spanning the last three months.
Insights into Volume & Open Interest
In today's trading context, the average open interest for options of Wynn Resorts stands at 107.33, with a total volume reaching 577.00. The accompanying chart delineates the progression of both call and put option volume and open interest for high-value trades in Wynn Resorts, situated within the strike price corridor from $87.5 to $120.0, throughout the last 30 days.
Wynn Resorts Call and Put Volume: 30-Day Overview
Noteworthy Options Activity:
| Symbol | PUT/CALL | Trade Type | Sentiment | Exp. Date | Strike Price | Total Trade Price | Open Interest | Volume |
|---|---|---|---|---|---|---|---|---|
| WYNN | PUT | TRADE | BULLISH | 01/19/24 | $120.00 | $711.2K | 39 | 300 |
| WYNN | CALL | SWEEP | NEUTRAL | 12/19/25 | $87.50 | $63.7K | 50 | 46 |
| WYNN | CALL | TRADE | BULLISH | 02/02/24 | $90.00 | $49.5K | 105 | 0 |
| WYNN | PUT | SWEEP | NEUTRAL | 06/21/24 | $115.00 | $46.0K | 38 | 19 |
| WYNN | CALL | SWEEP | BULLISH | 12/19/25 | $87.50 | $45.3K | 50 | 78 |
About Wynn Resorts
Wynn Resorts operates luxury casinos and resorts. The company was founded in 2002 by Steve Wynn, the former CEO. The company operates four megaresorts: Wynn Macau and Encore in Macao and Wynn Las Vegas and Encore in Las Vegas. Cotai Palace opened in August 2016 in Macao, and Encore Boston Harbor in Massachusetts opened June 2019. We expect the company to open a new building next to its existing Wynn Palace resort in around 2028. The company also operates Wynn Interactive, a digital sports betting and iGaming platform. The company received 76% and 24% of its 2019 prepandemic EBITDA from Macao and Las Vegas, respectively.
In light of the recent options history for Wynn Resorts, it's now appropriate to focus on the company itself. We aim to explore its current performance.
Wynn Resorts's Current Market Status
- With a volume of 566,782, the price of WYNN is up 0.08% at $91.83.
- RSI indicators hint that the underlying stock may be approaching overbought.
- Next earnings are expected to be released in 40 days.
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 Wynn Resorts, Benzinga Pro gives you real-time options trades alerts.
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
Date of Trade | ticker | Put/Call | Strike Price | DTE | Sentiment |
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