Investors with a lot of money to spend have taken a bullish stance on Wynn Resorts WYNN.
And retail traders should know.
We noticed this today when the trades showed up on publicly available options history that we track here at Benzinga.
Whether this is an institution or just a wealthy individual, we don't know. But when something this big happens with WYNN, it often means somebody knows something is about to happen.
Today, Benzinga's options scanner spotted 8 options trades for Wynn Resorts.
This isn't normal.
The overall sentiment of these big-money traders is split between 50% bullish and 12%, bearish.
Out of all of the options we uncovered, 7 are puts, for a total amount of $850,109, and there was 1 call, for a total amount of $46,074.
Expected Price Movements
Based on the trading activity, it appears that the significant investors are aiming for a price territory stretching from $75.0 to $130.0 for Wynn Resorts over the recent three months.
Volume & Open Interest Trends
Looking at the volume and open interest is an insightful way to conduct due diligence on a stock.
This data can help you track the liquidity and interest for Wynn Resorts's options for a given strike price.
Below, we can observe the evolution of the volume and open interest of calls and puts, respectively, for all of Wynn Resorts's whale activity within a strike price range from $75.0 to $130.0 in the last 30 days.
Wynn Resorts Option Volume And Open Interest Over Last 30 Days
Noteworthy Options Activity:
| Symbol | PUT/CALL | Trade Type | Sentiment | Exp. Date | Ask | Bid | Price | Strike Price | Total Trade Price | Open Interest | Volume |
|---|---|---|---|---|---|---|---|---|---|---|---|
| WYNN | PUT | SWEEP | BULLISH | 01/16/26 | $11.75 | $11.65 | $11.68 | $90.00 | $349.3K | 1.7K | 0 |
| WYNN | PUT | TRADE | BULLISH | 01/16/26 | $6.35 | $6.1 | $6.2 | $75.00 | $186.0K | 76 | 0 |
| WYNN | PUT | SWEEP | NEUTRAL | 01/16/26 | $11.75 | $11.65 | $11.7 | $90.00 | $103.9K | 1.7K | 0 |
| WYNN | PUT | SWEEP | NEUTRAL | 01/16/26 | $11.75 | $11.6 | $11.68 | $90.00 | $71.2K | 1.7K | 0 |
| WYNN | PUT | TRADE | BULLISH | 01/17/25 | $7.55 | $6.15 | $6.4 | $90.00 | $64.0K | 2.7K | 100 |
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 continue to build nongaming attractions in Macao over the next few years. We model Wynn's managed integrated resort in the United Arab Emirates to open in 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 Macao and the US, respectively.
Present Market Standing of Wynn Resorts
- Currently trading with a volume of 829,712, the WYNN's price is down by -1.74%, now at $91.25.
- RSI readings suggest the stock is currently may be oversold.
- Anticipated earnings release is in 57 days.
Professional Analyst Ratings for Wynn Resorts
In the last month, 2 experts released ratings on this stock with an average target price of $113.0.
- In a positive move, an analyst from Argus Research has upgraded their rating to Buy and adjusted the price target to $110.
- An analyst from Seaport Global has elevated its stance to Buy, setting a new price target at $116.
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.
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Date of Trade | ticker | Put/Call | Strike Price | DTE | Sentiment |
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