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 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 9 uncommon options trades for Caesars Entertainment.
This isn't normal.
The overall sentiment of these big-money traders is split between 66% bullish and 22%, bearish.
Out of all of the special options we uncovered, 7 are puts, for a total amount of $750,019, and 2 are calls, for a total amount of $287,500.
Predicted Price Range
Based on the trading activity, it appears that the significant investors are aiming for a price territory stretching from $35.0 to $37.0 for Caesars Entertainment over the recent three months.
Volume & Open Interest Trends
Looking at the volume and open interest is a powerful move while trading options. This data can help you track the liquidity and interest for Caesars Entertainment'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 Caesars Entertainment's whale trades within a strike price range from $35.0 to $37.0 in the last 30 days.
Caesars Entertainment 30-Day Option Volume & Interest Snapshot
Noteworthy Options Activity:
| Symbol | PUT/CALL | Trade Type | Sentiment | Exp. Date | Ask | Bid | Price | Strike Price | Total Trade Price | Open Interest | Volume |
|---|---|---|---|---|---|---|---|---|---|---|---|
| CZR | PUT | SWEEP | BEARISH | 08/16/24 | $2.59 | $2.44 | $2.44 | $37.00 | $386.9K | 3.3K | 1.6K |
| CZR | CALL | SWEEP | BULLISH | 01/17/25 | $5.75 | $5.5 | $5.75 | $35.00 | $143.7K | 321 | 500 |
| CZR | CALL | SWEEP | BULLISH | 01/17/25 | $5.75 | $5.45 | $5.75 | $35.00 | $143.7K | 321 | 0 |
| CZR | PUT | SWEEP | NEUTRAL | 08/16/24 | $1.19 | $1.18 | $1.19 | $35.00 | $72.1K | 924 | 620 |
| CZR | PUT | SWEEP | BEARISH | 08/16/24 | $2.5 | $2.44 | $2.44 | $37.00 | $67.1K | 3.3K | 2.3K |
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.
Caesars Entertainment's Current Market Status
- With a trading volume of 1,918,929, the price of CZR is down by -4.23%, reaching $35.78.
- Current RSI values indicate that the stock is is currently neutral between overbought and oversold.
- Next earnings report is scheduled for 88 days from now.
What Analysts Are Saying About Caesars Entertainment
Over the past month, 5 industry analysts have shared their insights on this stock, proposing an average target price of $48.6.
- Maintaining their stance, an analyst from Morgan Stanley continues to hold a Equal-Weight rating for Caesars Entertainment, targeting a price of $41.
- Consistent in their evaluation, an analyst from Susquehanna keeps a Negative rating on Caesars Entertainment with a target price of $33.
- An analyst from Wells Fargo has decided to maintain their Overweight rating on Caesars Entertainment, which currently sits at a price target of $53.
- Consistent in their evaluation, an analyst from Stifel keeps a Buy rating on Caesars Entertainment with a target price of $56.
- An analyst from Jefferies persists with their Buy rating on Caesars Entertainment, maintaining a target price of $60.
Options trading presents higher risks and potential rewards. Astute traders manage these risks by continually educating themselves, adapting their strategies, monitoring multiple indicators, and keeping a close eye on market movements. Stay informed about the latest Caesars Entertainment options trades with real-time alerts from Benzinga Pro.
© 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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