Investors with a lot of money to spend have taken a bullish stance on Wynn Resorts WYNN.
And retail traders should know.
We noticed this today when the trades showed up on publicly available options history that we track here at Benzinga.
Whether these are institutions or just wealthy individuals, we don't know. But when something this big happens with WYNN, it often means somebody knows something is about to happen.
So how do we know what these investors just did?
Today, Benzinga's options scanner spotted 54 uncommon options trades for Wynn Resorts.
This isn't normal.
The overall sentiment of these big-money traders is split between 46% bullish and 38%, bearish.
Out of all of the special options we uncovered, 8 are puts, for a total amount of $443,930, and 46 are calls, for a total amount of $5,244,203.
Predicted Price Range
Taking into account the Volume and Open Interest on these contracts, it appears that whales have been targeting a price range from $65.0 to $160.0 for Wynn Resorts over the last 3 months.
Volume & Open Interest Trends
Examining the volume and open interest provides crucial insights into stock research. This information is key in gauging liquidity and interest levels for Wynn Resorts's options at certain strike prices. Below, we present a snapshot of the trends in volume and open interest for calls and puts across Wynn Resorts's significant trades, within a strike price range of $65.0 to $160.0, over the past month.
Wynn Resorts Option Volume And Open Interest Over Last 30 Days
Biggest Options Spotted:
| Symbol | PUT/CALL | Trade Type | Sentiment | Exp. Date | Ask | Bid | Price | Strike Price | Total Trade Price | Open Interest | Volume |
|---|---|---|---|---|---|---|---|---|---|---|---|
| WYNN | CALL | TRADE | BEARISH | 10/25/24 | $4.05 | $3.8 | $3.85 | $90.00 | $762.3K | 43 | 4.0K |
| WYNN | CALL | TRADE | BEARISH | 10/18/24 | $11.1 | $10.9 | $10.96 | $80.00 | $562.2K | 13.3K | 8.0K |
| WYNN | CALL | TRADE | BEARISH | 10/18/24 | $26.45 | $26.0 | $26.0 | $65.00 | $390.0K | 1.5K | 150 |
| WYNN | CALL | TRADE | NEUTRAL | 10/18/24 | $6.8 | $6.6 | $6.71 | $85.00 | $344.2K | 4.4K | 9.3K |
| WYNN | CALL | SWEEP | BEARISH | 01/17/25 | $6.8 | $6.45 | $6.55 | $90.00 | $342.5K | 2.9K | 1.1K |
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.
Present Market Standing of Wynn Resorts
- With a trading volume of 5,804,778, the price of WYNN is up by 6.59%, reaching $89.67.
- Current RSI values indicate that the stock is may be overbought.
- Next earnings report is scheduled for 42 days from now.
What The Experts Say On Wynn Resorts
2 market experts have recently issued ratings for this stock, with a consensus target price of $100.0.
Turn $1000 into $1270 in just 20 days?
20-year pro options trader reveals his one-line chart technique that shows when to buy and sell. Copy his trades, which have had averaged a 27% profit every 20 days. Click here for access. * Maintaining their stance, an analyst from Morgan Stanley continues to hold a Equal-Weight rating for Wynn Resorts, targeting a price of $97. * Maintaining their stance, an analyst from Stifel continues to hold a Buy rating for Wynn Resorts, targeting a price of $103.
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.
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