Whales with a lot of money to spend have taken a noticeably bearish stance on Wynn Resorts.
Looking at options history for Wynn Resorts WYNN we detected 10 trades.
If we consider the specifics of each trade, it is accurate to state that 40% of the investors opened trades with bullish expectations and 60% with bearish.
From the overall spotted trades, 2 are puts, for a total amount of $58,830 and 8, calls, for a total amount of $440,320.
Predicted Price Range
Analyzing the Volume and Open Interest in these contracts, it seems that the big players have been eyeing a price window from $82.0 to $93.0 for Wynn Resorts during the past quarter.
Analyzing Volume & Open Interest
In terms of liquidity and interest, the mean open interest for Wynn Resorts options trades today is 725.0 with a total volume of 3,310.00.
In the following chart, we are able to follow the development of volume and open interest of call and put options for Wynn Resorts's big money trades within a strike price range of $82.0 to $93.0 over the last 30 days.
Wynn Resorts Call and Put Volume: 30-Day Overview
Significant Options Trades Detected:
| Symbol | PUT/CALL | Trade Type | Sentiment | Exp. Date | Strike Price | Total Trade Price | Open Interest | Volume |
|---|---|---|---|---|---|---|---|---|
| WYNN | CALL | SWEEP | BEARISH | 12/15/23 | $85.00 | $98.0K | 1.3K | 0 |
| WYNN | CALL | SWEEP | BULLISH | 12/01/23 | $82.00 | $82.8K | 549 | 203 |
| WYNN | CALL | SWEEP | BEARISH | 12/15/23 | $85.00 | $64.8K | 1.3K | 1.0K |
| WYNN | CALL | SWEEP | BULLISH | 12/15/23 | $90.00 | $42.6K | 1.1K | 781 |
| WYNN | CALL | SWEEP | BULLISH | 12/15/23 | $87.50 | $39.9K | 201 | 0 |
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 Macau and Wynn Las Vegas and Encore in Las Vegas. Cotai Palace opened in August 2016 in Macau, and Encore Boston Harbor in Massachusetts opened June 2019. we expect the company to begin construction on a new building next to its existing Wynn Palace resort in 2024, which we forecast to open around 2027. 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 Macau and Las Vegas, respectively.
Current Position of Wynn Resorts
- With a volume of 2,254,134, the price of WYNN is down -0.28% at $85.25.
- RSI indicators hint that the underlying stock may be approaching oversold.
- Next earnings are expected to be released in 86 days.
Professional Analyst Ratings for Wynn Resorts
In the last month, 2 experts released ratings on this stock with an average target price of $118.0.
- An analyst from Stifel has decided to maintain their Buy rating on Wynn Resorts, which currently sits at a price target of $125.
- Reflecting concerns, an analyst from HSBC lowers its rating to Buy with a new price target of $111.
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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