Investors with a lot of money to spend have taken a bearish stance on Caesars Entertainment CZR.
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 these are institutions or just wealthy individuals, we don't know. But when something this big happens with CZR, it often means somebody knows something is about to happen.
So how do we know what these investors just did?
Today, Benzinga's options scanner spotted 13 uncommon options trades for Caesars Entertainment.
This isn't normal.
The overall sentiment of these big-money traders is split between 30% bullish and 69%, bearish.
Out of all of the special options we uncovered, 2 are puts, for a total amount of $183,697, and 11 are calls, for a total amount of $534,416.
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 $35.0 to $45.0 for Caesars Entertainment over the last 3 months.
Insights into Volume & Open Interest
In terms of liquidity and interest, the mean open interest for Caesars Entertainment options trades today is 2737.71 with a total volume of 5,837.00.
In the following chart, we are able to follow the development of volume and open interest of call and put options for Caesars Entertainment's big money trades within a strike price range of $35.0 to $45.0 over the last 30 days.
Caesars Entertainment Option Volume And Open Interest Over Last 30 Days
Biggest Options Spotted:
| Symbol | PUT/CALL | Trade Type | Sentiment | Exp. Date | Ask | Bid | Price | Strike Price | Total Trade Price | Open Interest | Volume |
|---|---|---|---|---|---|---|---|---|---|---|---|
| CZR | PUT | SWEEP | BEARISH | 06/21/24 | $2.1 | $1.99 | $2.1 | $37.50 | $137.4K | 9 | 2 |
| CZR | CALL | SWEEP | BEARISH | 01/17/25 | $2.59 | $2.32 | $2.32 | $45.00 | $77.0K | 9.8K | 115 |
| CZR | CALL | SWEEP | BEARISH | 01/17/25 | $2.56 | $2.26 | $2.26 | $45.00 | $71.1K | 9.8K | 470 |
| CZR | CALL | SWEEP | BEARISH | 09/20/24 | $1.91 | $1.83 | $1.86 | $40.00 | $55.3K | 8.5K | 341 |
| CZR | CALL | SWEEP | BEARISH | 09/20/24 | $2.0 | $1.9 | $1.9 | $40.00 | $54.3K | 8.5K | 45 |
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.
Having examined the options trading patterns of Caesars Entertainment, our attention now turns directly to the company. This shift allows us to delve into its present market position and performance
Present Market Standing of Caesars Entertainment
- With a volume of 2,856,898, the price of CZR is down -5.28% at $35.89.
- RSI indicators hint that the underlying stock is currently neutral between overbought and oversold.
- Next earnings are expected to be released in 46 days.
What The Experts Say On Caesars Entertainment
A total of 1 professional analysts have given their take on this stock in the last 30 days, setting an average price target of $55.0.
- In a cautious move, an analyst from Raymond James downgraded its rating to Strong Buy, setting a 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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Date of Trade | ticker | Put/Call | Strike Price | DTE | Sentiment |
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