High-rolling investors have positioned themselves bullish on Caesars Entertainment CZR, and it's important for retail traders to take note. \This activity came to our attention today through Benzinga's tracking of publicly available options data. The identities of these investors are uncertain, but such a significant move in CZR often signals that someone has privileged information.
Today, Benzinga's options scanner spotted 8 options trades for Caesars Entertainment. This is not a typical pattern.
The sentiment among these major traders is split, with 75% bullish and 12% bearish. Among all the options we identified, there was one put, amounting to $75,731, and 7 calls, totaling $833,307.
What's The Price Target?
Analyzing the Volume and Open Interest in these contracts, it seems that the big players have been eyeing a price window from $32.0 to $50.0 for Caesars Entertainment during the past quarter.
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 $32.0 to $50.0 over the preceding 30 days.
Caesars Entertainment 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 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| CZR | CALL | SWEEP | BULLISH | 01/16/26 | $4.4 | $4.1 | $4.35 | $50.00 | $327.8K | 8.3K | 765 |
| CZR | CALL | SWEEP | BULLISH | 01/16/26 | $4.4 | $4.15 | $4.35 | $50.00 | $247.2K | 8.3K | 1.6K |
| CZR | CALL | SWEEP | NEUTRAL | 09/20/24 | $3.9 | $3.85 | $3.85 | $32.00 | $80.0K | 714 | 300 |
| CZR | PUT | SWEEP | BULLISH | 03/21/25 | $8.95 | $8.8 | $8.8 | $42.00 | $75.7K | 0 | 28 |
| CZR | CALL | SWEEP | BULLISH | 09/20/24 | $3.9 | $3.85 | $3.85 | $32.00 | $60.4K | 714 | 499 |
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.
After a thorough review of the options trading surrounding Caesars Entertainment, we move to examine the company in more detail. This includes an assessment of its current market status and performance.
Caesars Entertainment's Current Market Status
- Currently trading with a volume of 2,126,609, the CZR's price is up by 0.71%, now at $35.49.
- RSI readings suggest the stock is currently is currently neutral between overbought and oversold.
- Anticipated earnings release is in 76 days.
Professional Analyst Ratings for Caesars Entertainment
5 market experts have recently issued ratings for this stock, with a consensus target price of $51.2.
- Consistent in their evaluation, an analyst from Wells Fargo keeps a Overweight rating on Caesars Entertainment with a target price of $56.
- Maintaining their stance, an analyst from Stifel continues to hold a Buy rating for Caesars Entertainment, targeting a price of $56.
- Consistent in their evaluation, an analyst from Susquehanna keeps a Negative rating on Caesars Entertainment with a target price of $33.
- Consistent in their evaluation, an analyst from Wells Fargo keeps a Overweight rating on Caesars Entertainment with a target price of $53.
- Consistent in their evaluation, an analyst from JMP Securities keeps a Market Outperform rating on Caesars Entertainment with a target price of $58.
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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