Smart Money Is Betting Big In CZR Options - Caesars Entertainment (NASDAQ:CZR)

Benzinga's options scanner just detected over 13 options trades for Caesars Entertainment CZR summing a total amount of $1,346,266.

At the same time, our algo caught 2 for a total amount of 307,730.

Expected Price Movements

Based on the trading activity, it appears that the significant investors are aiming for a price territory stretching from $28.0 to $40.0 for Caesars Entertainment over the recent three months.

Volume & Open Interest Trends

In today's trading context, the average open interest for options of Caesars Entertainment stands at 149.67, with a total volume reaching 13,250.00. The accompanying chart delineates the progression of both call and put option volume and open interest for high-value trades in Caesars Entertainment, situated within the strike price corridor from $28.0 to $40.0, throughout the last 30 days.

Caesars Entertainment Call and Put Volume: 30-Day Overview

Biggest Options Spotted:

Symbol	PUT/CALL	Trade Type	Sentiment	Exp. Date	Ask	Bid	Price	Strike Price	Total Trade Price	Open Interest	Volume
CZR	CALL	SWEEP	BULLISH	09/20/24	$2.71	$2.7	$2.71	$40.00	$287.9K	180	2.6K
CZR	PUT	TRADE	BULLISH	01/17/25	$1.72	$1.59	$1.6	$28.00	$280.0K	113	1.7K
CZR	CALL	SWEEP	BULLISH	09/20/24	$2.72	$2.68	$2.71	$40.00	$182.8K	180	2.8K
CZR	CALL	SWEEP	BULLISH	09/20/24	$2.68	$2.67	$2.68	$40.00	$135.3K	180	1.5K
CZR	CALL	SWEEP	BULLISH	09/20/24	$2.65	$2.6	$2.64	$40.00	$97.9K	180	612

About Caesars Entertainment

Caesars Entertainment includes about 50 domestic gaming properties across Las Vegas (49% of 2023 EBITDAR before corporate expenses) and regional (48%) markets. Additionally, the company hosts managed properties and digital assets, the later of which produced marginal EBITDA in 2023. Caesars' US presence roughly doubled with the 2020 acquisition by Eldorado, which built its first casino in Reno, Nevada, in 1973 and expanded its presence through prior acquisitions to over 20 properties before merging with legacy Caesars. Caesars' brands include Caesars, Harrah's, Tropicana, Bally's, Isle, and Flamingo. Also, the company owns the US portion of William Hill (it sold the international operation in 2022), a digital sports betting platform.

After a thorough review of the options trading surrounding Caesars Entertainment, we move to examine the company in more detail. This includes an assessment of its current market status and performance.

Where Is Caesars Entertainment Standing Right Now?

Trading volume stands at 3,767,229, with CZR's price up by 1.11%, positioned at $36.45.
RSI indicators show the stock to be is currently neutral between overbought and oversold.
Earnings announcement expected in 84 days.

What The Experts Say On Caesars Entertainment

A total of 5 professional analysts have given their take on this stock in the last 30 days, setting an average price target of $58.6.

Consistent in their evaluation, an analyst from JMP Securities keeps a Market Outperform rating on Caesars Entertainment with a target price of $60.
An analyst from Wells Fargo has decided to maintain their Overweight rating on Caesars Entertainment, which currently sits at a price target of $54.
Consistent in their evaluation, an analyst from Truist Securities keeps a Buy rating on Caesars Entertainment with a target price of $58.
An analyst from JMP Securities persists with their Market Outperform rating on Caesars Entertainment, maintaining a target price of $62.
An analyst from Deutsche Bank has decided to maintain their Buy rating on Caesars Entertainment, which currently sits at a price target of $59.

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 Caesars Entertainment with Benzinga Pro for real-time alerts.

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