Investors with a lot of money to spend have taken a bullish stance on Caesars Entertainment CZR.
And retail traders should know.
We noticed this today when the positions 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.
Today, Benzinga's options scanner spotted 9 options trades for Caesars Entertainment.
This isn't normal.
The overall sentiment of these big-money traders is split between 77% bullish and 22%, bearish.
Out of all of the options we uncovered, there was 1 put, for a total amount of $121,875, and 8, calls, for a total amount of $508,648.
Expected Price Movements
Based on the trading activity, it appears that the significant investors are aiming for a price territory stretching from $36.0 to $60.0 for Caesars Entertainment over the recent three 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 $36.0 to $60.0 over the preceding 30 days.
Caesars Entertainment Option Activity Analysis: 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 | CALL | SWEEP | BULLISH | 01/16/26 | $3.75 | $3.3 | $3.73 | $60.00 | $158.2K | 9.8K | 0 |
| CZR | PUT | TRADE | BEARISH | 01/17/25 | $3.3 | $3.1 | $3.25 | $36.00 | $121.8K | 391 | 0 |
| CZR | CALL | SWEEP | BULLISH | 06/28/24 | $1.76 | $1.75 | $1.76 | $36.50 | $70.0K | 2.2K | 3 |
| CZR | CALL | SWEEP | BULLISH | 06/21/24 | $1.25 | $0.86 | $1.25 | $37.00 | $63.8K | 7.2K | 10 |
| CZR | CALL | SWEEP | BULLISH | 06/28/24 | $0.65 | $0.55 | $0.65 | $40.00 | $54.6K | 579 | 691 |
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.
Following our analysis of the options activities associated with Caesars Entertainment, we pivot to a closer look at the company's own performance.
Current Position of Caesars Entertainment
- Currently trading with a volume of 1,904,722, the CZR's price is down by -0.53%, now at $37.22.
- RSI readings suggest the stock is currently may be overbought.
- Anticipated earnings release is in 40 days.
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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