This Is What Whales Are Betting On Wynn Resorts

Whales with a lot of money to spend have taken a noticeably bullish stance on Wynn Resorts.

Looking at options history for Wynn Resorts WYNN we detected 9 trades.

If we consider the specifics of each trade, it is accurate to state that 55% of the investors opened trades with bullish expectations and 33% with bearish.

From the overall spotted trades, 2 are puts, for a total amount of $137,290 and 7, calls, for a total amount of $633,165.

Projected Price Targets

Analyzing the Volume and Open Interest in these contracts, it seems that the big players have been eyeing a price window from $60.0 to $120.0 for Wynn Resorts during the past quarter.

Analyzing 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 $60.0 to $120.0 in the last 30 days.

Wynn Resorts Option Activity Analysis: Last 30 Days

Significant Options Trades Detected:

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 2024, both the US and Macao were each 50% of total EBITDA.

After a thorough review of the options trading surrounding Wynn Resorts, we move to examine the company in more detail. This includes an assessment of its current market status and performance.

Where Is Wynn Resorts Standing Right Now?

• Trading volume stands at 873,900, with WYNN's price up by 2.92%, positioned at $91.93.
• RSI indicators show the stock to be may be approaching overbought.
• Earnings announcement expected in 64 days.

What Analysts Are Saying About Wynn Resorts

In the last month, 5 experts released ratings on this stock with an average target price of $116.8.

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. * In a positive move, an analyst from Jefferies has upgraded their rating to Buy and adjusted the price target to $118. * Consistent in their evaluation, an analyst from Mizuho keeps a Outperform rating on Wynn Resorts with a target price of $132. * Consistent in their evaluation, an analyst from Macquarie keeps a Outperform rating on Wynn Resorts with a target price of $115. * Maintaining their stance, an analyst from Morgan Stanley continues to hold a Overweight rating for Wynn Resorts, targeting a price of $103. * Consistent in their evaluation, an analyst from Barclays keeps a Overweight rating on Wynn Resorts with a target price of $116.

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.