High-rolling investors have positioned themselves bearish on Wynn Resorts WYNN, 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 WYNN often signals that someone has privileged information.
Today, Benzinga's options scanner spotted 9 options trades for Wynn Resorts. This is not a typical pattern.
The sentiment among these major traders is split, with 11% bullish and 55% bearish. Among all the options we identified, there was one put, amounting to $33,150, and 8 calls, totaling $289,780.
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 $85.0 to $100.0 for Wynn Resorts over the last 3 months.
Insights into Volume & Open Interest
Looking at the volume and open interest is a powerful move while trading options. This data can help you track the liquidity and interest for Wynn Resorts's options for a given strike price. Below, we can observe the evolution of the volume and open interest of calls and puts, respectively, for all of Wynn Resorts's whale trades within a strike price range from $85.0 to $100.0 in the last 30 days.
Wynn Resorts Option Activity Analysis: 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 | SWEEP | BEARISH | 12/13/24 | $3.2 | $3.15 | $3.15 | $95.00 | $63.0K | 482 | 296 |
| WYNN | CALL | SWEEP | BULLISH | 12/20/24 | $1.6 | $1.47 | $1.6 | $100.00 | $53.0K | 3.2K | 547 |
| WYNN | CALL | TRADE | NEUTRAL | 01/17/25 | $8.85 | $8.2 | $8.5 | $90.00 | $39.1K | 4.6K | 49 |
| WYNN | PUT | TRADE | BEARISH | 06/20/25 | $11.05 | $10.65 | $11.05 | $100.00 | $33.1K | 1.0K | 30 |
| WYNN | CALL | TRADE | NEUTRAL | 02/21/25 | $10.65 | $10.25 | $10.45 | $90.00 | $30.3K | 1.7K | 30 |
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.
Where Is Wynn Resorts Standing Right Now?
- Trading volume stands at 1,372,603, with WYNN's price up by 2.44%, positioned at $96.68.
- RSI indicators show the stock to be may be approaching overbought.
- Earnings announcement expected in 65 days.
What The Experts Say On Wynn Resorts
Over the past month, 5 industry analysts have shared their insights on this stock, proposing an average target price of $118.4.
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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. * An analyst from Macquarie persists with their Outperform rating on Wynn Resorts, maintaining a target price of $120. * An analyst from Wells Fargo persists with their Overweight rating on Wynn Resorts, maintaining a target price of $122. * An analyst from Deutsche Bank has decided to maintain their Buy rating on Wynn Resorts, which currently sits at a price target of $118. * Consistent in their evaluation, an analyst from JP Morgan keeps a Overweight rating on Wynn Resorts with a target price of $113. * An analyst from Barclays has decided to maintain their Overweight rating on Wynn Resorts, which currently sits at a price target of $119.
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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