Deep-pocketed investors have adopted a bearish approach towards PENN Entertainment PENN, 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 PENN 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 PENN Entertainment. This level of activity is out of the ordinary.
The general mood among these heavyweight investors is divided, with 22% leaning bullish and 66% bearish. Among these notable options, 3 are puts, totaling $103,155, and 6 are calls, amounting to $333,647.
What's The Price Target?
Taking into account the Volume and Open Interest on these contracts, it appears that whales have been targeting a price range from $20.0 to $35.0 for PENN Entertainment over the last 3 months.
Volume & Open Interest Trends
In today's trading context, the average open interest for options of PENN Entertainment stands at 3047.89, with a total volume reaching 11,144.00. The accompanying chart delineates the progression of both call and put option volume and open interest for high-value trades in PENN Entertainment, situated within the strike price corridor from $20.0 to $35.0, throughout the last 30 days.
PENN Entertainment Option Activity Analysis: Last 30 Days
Significant Options Trades Detected:
| Symbol | PUT/CALL | Trade Type | Sentiment | Exp. Date | Ask | Bid | Price | Strike Price | Total Trade Price | Open Interest | Volume |
|---|---|---|---|---|---|---|---|---|---|---|---|
| PENN | CALL | TRADE | BEARISH | 02/14/25 | $1.33 | $0.8 | $0.85 | $21.00 | $85.0K | 4.1K | 3.1K |
| PENN | CALL | SWEEP | BEARISH | 07/18/25 | $1.64 | $1.63 | $1.63 | $25.00 | $81.5K | 1.5K | 618 |
| PENN | CALL | TRADE | BEARISH | 02/14/25 | $3.7 | $0.0 | $1.3 | $20.50 | $68.2K | 861 | 0 |
| PENN | PUT | SWEEP | BULLISH | 09/19/25 | $3.4 | $3.25 | $3.3 | $22.50 | $43.2K | 0 | 135 |
| PENN | CALL | SWEEP | BEARISH | 02/07/25 | $0.42 | $0.13 | $0.16 | $21.50 | $37.8K | 2.7K | 2.6K |
About PENN Entertainment
Penn Entertainment's origins date back to its 1972 racetrack opening in Pennsylvania. Today, Penn operates 43 properties across 20 states and 12 brands, including Hollywood Casino and Ameristar. Land-based casinos represented 89% of total sales in 2023; 11% was from the interactive segment, which includes sports, iGaming, and media revenue. The retail portfolio generates mid-30s EBITDAR margins and helps position the company to obtain licenses for the digital wagering markets. Additionally, Penn's media assets, theScore and ESPN (starting with its partnership launch in November 2023), provide access to sports betting/iGaming technology and clientele, helping it form a leading digital position.
Where Is PENN Entertainment Standing Right Now?
- Currently trading with a volume of 848,831, the PENN's price is up by 1.43%, now at $21.26.
- RSI readings suggest the stock is currently may be approaching overbought.
- Anticipated earnings release is in 20 days.
Unusual Options Activity Detected: Smart Money on the Move
Benzinga Edge's Unusual Options board spots potential market movers before they happen. See what positions big money is taking on your favorite stocks. Click here for access.
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 PENN Entertainment with Benzinga Pro for real-time alerts.
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