Whales with a lot of money to spend have taken a noticeably bullish stance on Wynn Resorts.
Looking at options history for Wynn Resorts WYNN we detected 10 trades.
If we consider the specifics of each trade, it is accurate to state that 60% of the investors opened trades with bullish expectations and 30% with bearish.
From the overall spotted trades, 5 are puts, for a total amount of $807,124 and 5, calls, for a total amount of $399,963.
Projected Price Targets
Analyzing the Volume and Open Interest in these contracts, it seems that the big players have been eyeing a price window from $64.0 to $90.0 for Wynn Resorts during the past quarter.
Volume & Open Interest Trends
In terms of liquidity and interest, the mean open interest for Wynn Resorts options trades today is 908.75 with a total volume of 1,037.00.
In the following chart, we are able to follow the development of volume and open interest of call and put options for Wynn Resorts's big money trades within a strike price range of $64.0 to $90.0 over the last 30 days.
Wynn Resorts Call and Put Volume: 30-Day Overview
Largest Options Trades Observed:
| Symbol | PUT/CALL | Trade Type | Sentiment | Exp. Date | Ask | Bid | Price | Strike Price | Total Trade Price | Open Interest | Volume |
|---|---|---|---|---|---|---|---|---|---|---|---|
| WYNN | PUT | TRADE | BULLISH | 01/17/25 | $17.5 | $16.15 | $16.15 | $90.00 | $403.7K | 2.7K | 250 |
| WYNN | PUT | TRADE | BULLISH | 12/19/25 | $14.35 | $13.3 | $13.28 | $80.00 | $209.8K | 261 | 250 |
| WYNN | CALL | SWEEP | BEARISH | 10/18/24 | $13.0 | $12.65 | $12.81 | $65.00 | $129.0K | 500 | 100 |
| WYNN | CALL | TRADE | BEARISH | 10/18/24 | $12.95 | $12.75 | $12.8 | $65.00 | $128.0K | 500 | 200 |
| WYNN | PUT | SWEEP | BULLISH | 01/16/26 | $20.25 | $18.9 | $19.19 | $90.00 | $95.9K | 1.8K | 50 |
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.
After a thorough review of the options trading surrounding Wynn Resorts, we move to examine the company in more detail. This includes an assessment of its current market status and performance.
Where Is Wynn Resorts Standing Right Now?
- Currently trading with a volume of 792,165, the WYNN's price is up by 1.22%, now at $75.77.
- RSI readings suggest the stock is currently may be approaching oversold.
- Anticipated earnings release is in 91 days.
What Analysts Are Saying About Wynn Resorts
A total of 5 professional analysts have given their take on this stock in the last 30 days, setting an average price target of $115.2.
- Consistent in their evaluation, an analyst from Deutsche Bank keeps a Buy rating on Wynn Resorts with a target price of $122.
- Maintaining their stance, an analyst from Deutsche Bank continues to hold a Buy rating for Wynn Resorts, targeting a price of $131.
- An analyst from Jefferies has decided to maintain their Hold rating on Wynn Resorts, which currently sits at a price target of $96.
- Consistent in their evaluation, an analyst from Macquarie keeps a Outperform rating on Wynn Resorts with a target price of $126.
- Consistent in their evaluation, an analyst from JP Morgan keeps a Overweight rating on Wynn Resorts with a target price of $101.
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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