Financial giants have made a conspicuous bearish move on Wynn Resorts. Our analysis of options history for Wynn Resorts WYNN revealed 14 unusual trades.
Delving into the details, we found 42% of traders were bullish, while 57% showed bearish tendencies. Out of all the trades we spotted, 8 were puts, with a value of $646,325, and 6 were calls, valued at $259,171.
Projected Price Targets
Taking into account the Volume and Open Interest on these contracts, it appears that whales have been targeting a price range from $50.0 to $110.0 for Wynn Resorts over the last 3 months.
Insights into Volume & Open Interest
In today's trading context, the average open interest for options of Wynn Resorts stands at 996.88, with a total volume reaching 2,084.00. 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 $50.0 to $110.0, 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 | SWEEP | BEARISH | 01/17/25 | $110.00 | $207.7K | 1.9K | 255 |
| WYNN | PUT | SWEEP | BEARISH | 01/17/25 | $110.00 | $106.7K | 1.9K | 50 |
| WYNN | PUT | SWEEP | BULLISH | 01/17/25 | $110.00 | $105.5K | 1.9K | 450 |
| WYNN | CALL | SWEEP | NEUTRAL | 01/17/25 | $105.00 | $79.9K | 1.0K | 186 |
| WYNN | PUT | SWEEP | BULLISH | 01/17/25 | $110.00 | $73.8K | 1.9K | 490 |
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.
Following our analysis of the options activities associated with Wynn Resorts, we pivot to a closer look at the company's own performance.
Present Market Standing of Wynn Resorts
- With a volume of 1,193,400, the price of WYNN is down -0.42% at $93.24.
- RSI indicators hint that the underlying stock may be approaching overbought.
- Next earnings are expected to be released in 27 days.
Trading options involves greater risks but also offers the potential for higher profits. Savvy traders mitigate these risks through ongoing education, strategic trade adjustments, utilizing various indicators, and staying attuned to market dynamics. Keep up with the latest options trades for Wynn Resorts with Benzinga Pro for real-time alerts.
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Date of Trade | ticker | Put/Call | Strike Price | DTE | Sentiment |
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