Deep-pocketed investors have adopted a bearish approach towards Wynn Resorts WYNN, and it's something market players shouldn't ignore. Our tracking of public options records at Benzinga unveiled this significant move today. The identity of these investors remains unknown, but such a substantial move in WYNN usually suggests something big is about to happen.
We gleaned this information from our observations today when Benzinga's options scanner highlighted 9 extraordinary options activities for Wynn Resorts. This level of activity is out of the ordinary.
The general mood among these heavyweight investors is divided, with 22% leaning bullish and 55% bearish. Among these notable options, 7 are puts, totaling $279,015, and 2 are calls, amounting to $104,299.
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 $73.0 to $120.0 for Wynn Resorts during the past quarter.
Volume & Open Interest Trends
Assessing the volume and open interest is a strategic step in options trading. These metrics shed light on the liquidity and investor interest in Wynn Resorts's options at specified strike prices. The forthcoming data visualizes the fluctuation in volume and open interest for both calls and puts, linked to Wynn Resorts's substantial trades, within a strike price spectrum from $73.0 to $120.0 over the preceding 30 days.
Wynn Resorts Option Activity Analysis: Last 30 Days
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 | SWEEP | BEARISH | 06/20/25 | $11.0 | $10.8 | $10.95 | $80.00 | $77.7K | 3.0K | 302 |
| WYNN | CALL | SWEEP | BULLISH | 12/20/24 | $5.85 | $5.7 | $5.81 | $75.00 | $58.1K | 438 | 101 |
| WYNN | CALL | SWEEP | NEUTRAL | 09/27/24 | $3.5 | $3.35 | $3.45 | $73.00 | $46.1K | 300 | 135 |
| WYNN | PUT | SWEEP | BEARISH | 06/20/25 | $11.0 | $10.8 | $10.95 | $80.00 | $38.3K | 3.0K | 206 |
| WYNN | PUT | SWEEP | NEUTRAL | 06/20/25 | $11.0 | $10.8 | $10.95 | $80.00 | $35.0K | 3.0K | 145 |
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.
In light of the recent options history for Wynn Resorts, it's now appropriate to focus on the company itself. We aim to explore its current performance.
Wynn Resorts's Current Market Status
- With a volume of 613,580, the price of WYNN is up 0.04% at $75.38.
- RSI indicators hint that the underlying stock may be approaching overbought.
- Next earnings are expected to be released in 57 days.
What Analysts Are Saying About Wynn Resorts
Over the past month, 1 industry analysts have shared their insights on this stock, proposing an average target price of $97.0.
- An analyst from Morgan Stanley persists with their Equal-Weight rating on Wynn Resorts, maintaining a target price of $97.
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 Wynn Resorts options trades with real-time alerts from Benzinga Pro.
© 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.
