Deep-pocketed investors have adopted a bullish approach towards Caesars Entertainment CZR, 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 CZR usually suggests something big is about to happen.
We gleaned this information from our observations today when Benzinga's options scanner highlighted 9 extraordinary options activities for Caesars Entertainment. This level of activity is out of the ordinary.
The general mood among these heavyweight investors is divided, with 77% leaning bullish and 11% bearish. Among these notable options, 4 are puts, totaling $142,070, and 5 are calls, amounting to $422,942.
Predicted Price Range
Taking into account the Volume and Open Interest on these contracts, it appears that whales have been targeting a price range from $32.0 to $41.0 for Caesars Entertainment over the last 3 months.
Analyzing Volume & Open Interest
Assessing the volume and open interest is a strategic step in options trading. These metrics shed light on the liquidity and investor interest in Caesars Entertainment's options at specified strike prices. The forthcoming data visualizes the fluctuation in volume and open interest for both calls and puts, linked to Caesars Entertainment's substantial trades, within a strike price spectrum from $32.0 to $41.0 over the preceding 30 days.
Caesars Entertainment 30-Day Option Volume & Interest Snapshot
Significant Options Trades Detected:
| Symbol | PUT/CALL | Trade Type | Sentiment | Exp. Date | Ask | Bid | Price | Strike Price | Total Trade Price | Open Interest | Volume |
|---|---|---|---|---|---|---|---|---|---|---|---|
| CZR | CALL | SWEEP | BULLISH | 07/19/24 | $5.7 | $5.6 | $5.65 | $32.00 | $271.2K | 1.4K | 518 |
| CZR | PUT | SWEEP | BULLISH | 07/19/24 | $4.6 | $4.5 | $4.5 | $41.00 | $53.5K | 71 | 247 |
| CZR | CALL | SWEEP | BEARISH | 01/17/25 | $4.55 | $4.5 | $4.5 | $39.00 | $47.7K | 46 | 112 |
| CZR | CALL | TRADE | BULLISH | 07/19/24 | $0.98 | $0.91 | $0.96 | $40.00 | $38.4K | 648 | 403 |
| CZR | PUT | SWEEP | BULLISH | 12/20/24 | $4.6 | $4.4 | $4.4 | $37.00 | $33.4K | 185 | 79 |
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.
In light of the recent options history for Caesars Entertainment, it's now appropriate to focus on the company itself. We aim to explore its current performance.
Current Position of Caesars Entertainment
- With a trading volume of 1,957,428, the price of CZR is up by 0.82%, reaching $36.87.
- Current RSI values indicate that the stock is may be approaching overbought.
- Next earnings report is scheduled for 54 days from now.
Professional Analyst Ratings for Caesars Entertainment
In the last month, 1 experts released ratings on this stock with an average target price of $55.0.
- Reflecting concerns, an analyst from Raymond James lowers its rating to Strong Buy with a new price target of $55.
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 Caesars Entertainment, Benzinga Pro gives you real-time options trades alerts.
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
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