Financial giants have made a conspicuous bullish move on MGM Resorts Intl. Our analysis of options history for MGM Resorts Intl MGM revealed 8 unusual trades.
Delving into the details, we found 75% of traders were bullish, while 25% showed bearish tendencies. Out of all the trades we spotted, 2 were puts, with a value of $108,054, and 6 were calls, valued at $213,450.
Predicted Price Range
Analyzing the Volume and Open Interest in these contracts, it seems that the big players have been eyeing a price window from $30.0 to $41.0 for MGM Resorts Intl during the past quarter.
Insights into Volume & Open Interest
Examining the volume and open interest provides crucial insights into stock research. This information is key in gauging liquidity and interest levels for MGM Resorts Intl's options at certain strike prices. Below, we present a snapshot of the trends in volume and open interest for calls and puts across MGM Resorts Intl's significant trades, within a strike price range of $30.0 to $41.0, over the past month.
MGM Resorts Intl Option Volume And Open Interest Over Last 30 Days
Noteworthy Options Activity:
| Symbol | PUT/CALL | Trade Type | Sentiment | Exp. Date | Ask | Bid | Price | Strike Price | Total Trade Price | Open Interest | Volume |
|---|---|---|---|---|---|---|---|---|---|---|---|
| MGM | PUT | SWEEP | BULLISH | 03/21/25 | $4.5 | $4.4 | $4.4 | $41.00 | $65.5K | 0 | 149 |
| MGM | CALL | TRADE | BULLISH | 06/20/25 | $11.25 | $11.15 | $11.25 | $30.00 | $45.0K | 630 | 220 |
| MGM | PUT | TRADE | BULLISH | 12/20/24 | $3.7 | $3.6 | $3.6 | $41.00 | $42.4K | 599 | 0 |
| MGM | CALL | TRADE | BULLISH | 06/20/25 | $11.3 | $11.25 | $11.3 | $30.00 | $33.9K | 630 | 0 |
| MGM | CALL | TRADE | BEARISH | 06/20/25 | $11.35 | $11.2 | $11.25 | $30.00 | $33.7K | 630 | 150 |
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
- With a volume of 1,500,590, the price of MGM is down -2.2% at $38.08.
- RSI indicators hint that the underlying stock may be approaching oversold.
- Next earnings are expected to be released in 72 days.
Professional Analyst Ratings for MGM Resorts Intl
Over the past month, 5 industry analysts have shared their insights on this stock, proposing an average target price of $56.6.
- An analyst from Wells Fargo has decided to maintain their Overweight rating on MGM Resorts Intl, which currently sits at a price target of $53.
- An analyst from JMP Securities persists with their Market Outperform rating on MGM Resorts Intl, maintaining a target price of $57.
- Maintaining their stance, an analyst from Macquarie continues to hold a Outperform rating for MGM Resorts Intl, targeting a price of $55.
- An analyst from Susquehanna persists with their Positive rating on MGM Resorts Intl, maintaining a target price of $55.
- An analyst from Stifel persists with their Buy rating on MGM Resorts Intl, maintaining a target price of $63.
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.
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
Comments
Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.
