MGM Resorts Intl Unusual Options Activity

Financial giants have made a conspicuous bullish move on MGM Resorts Intl. Our analysis of options history for MGM Resorts Intl MGM revealed 16 unusual trades.

Delving into the details, we found 43% of traders were bullish, while 43% showed bearish tendencies. Out of all the trades we spotted, 5 were puts, with a value of $286,014, and 11 were calls, valued at $1,138,181.

Expected Price Movements

Based on the trading activity, it appears that the significant investors are aiming for a price territory stretching from $33.0 to $40.0 for MGM Resorts Intl 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 MGM Resorts Intl's options at specified strike prices. The forthcoming data visualizes the fluctuation in volume and open interest for both calls and puts, linked to MGM Resorts Intl's substantial trades, within a strike price spectrum from $33.0 to $40.0 over the preceding 30 days.

MGM Resorts Intl Call and Put Volume: 30-Day Overview

Significant Options Trades Detected:

About MGM Resorts Intl

MGM Resorts is the largest resort operator on the Las Vegas Strip with 35,000 guest rooms and suites, representing about one fourth of all units in the market. The company's Vegas properties include MGM Grand, Mandalay Bay, Park MGM, Luxor, New York-New York, and Bellagio. The Strip contributed approximately 62% of total EBITDAR in 2023. MGM also owns US regional assets, which represented low-20s of 2023 EBITDAR (MGM's Macao EBITDAR was 17% of the total in 2023). MGM's US sports and iGaming operations are currently a high-single-digit percentage of its total revenue. The company also operates the 56%-owned MGM China casinos with a new property that opened on the Cotai Strip in early 2018. Further, we estimate MGM will open a resort in Japan in 2030.

Having examined the options trading patterns of MGM Resorts Intl, our attention now turns directly to the company. This shift allows us to delve into its present market position and performance

Current Position of MGM Resorts Intl

• Currently trading with a volume of 9,296,014, the MGM's price is up by 2.94%, now at $36.44.
• RSI readings suggest the stock is currently may be approaching oversold.
• Anticipated earnings release is in 91 days.

Expert Opinions on MGM Resorts Intl

In the last month, 5 experts released ratings on this stock with an average target price of $53.6.

• An analyst from JMP Securities has decided to maintain their Market Outperform rating on MGM Resorts Intl, which currently sits at a price target of $59.
• Consistent in their evaluation, an analyst from Susquehanna keeps a Positive rating on MGM Resorts Intl with a target price of $55.
• Maintaining their stance, an analyst from Macquarie continues to hold a Outperform rating for MGM Resorts Intl, targeting a price of $55.
• Maintaining their stance, an analyst from Wells Fargo continues to hold a Overweight rating for MGM Resorts Intl, targeting a price of $55.
• An analyst from Morgan Stanley persists with their Equal-Weight rating on MGM Resorts Intl, maintaining a target price of $44.

Trading options involves greater risks but also offers the potential for higher profits. Savvy traders mitigate these risks through ongoing education, strategic trade adjustments, utilizing various indicators, and staying attuned to market dynamics. Keep up with the latest options trades for MGM Resorts Intl with Benzinga Pro for real-time alerts.