Financial giants have made a conspicuous bearish move on MGM Resorts Intl. Our analysis of options history for MGM Resorts Intl MGM revealed 10 unusual trades.
Delving into the details, we found 20% of traders were bullish, while 80% showed bearish tendencies. Out of all the trades we spotted, 3 were puts, with a value of $218,992, and 7 were calls, valued at $526,599.
What's The Price Target?
Analyzing the Volume and Open Interest in these contracts, it seems that the big players have been eyeing a price window from $35.0 to $50.0 for MGM Resorts Intl during the past quarter.
Insights into Volume & Open Interest
Looking at the volume and open interest is an insightful way to conduct due diligence on a stock.
This data can help you track the liquidity and interest for MGM Resorts Intl'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 MGM Resorts Intl's whale activity within a strike price range from $35.0 to $50.0 in the last 30 days.
MGM Resorts Intl Call and Put Volume: 30-Day Overview
Largest Options Trades Observed:
| Symbol | PUT/CALL | Trade Type | Sentiment | Exp. Date | Strike Price | Total Trade Price | Open Interest | Volume |
|---|---|---|---|---|---|---|---|---|
| MGM | CALL | SWEEP | BEARISH | 04/19/24 | $40.00 | $172.1K | 2.5K | 1.1K |
| MGM | CALL | SWEEP | BEARISH | 04/19/24 | $40.00 | $122.8K | 2.5K | 1.2K |
| MGM | PUT | SWEEP | BEARISH | 01/16/26 | $35.00 | $108.7K | 284 | 302 |
| MGM | PUT | SWEEP | BULLISH | 01/16/26 | $35.00 | $81.0K | 284 | 527 |
| MGM | CALL | SWEEP | BULLISH | 12/18/26 | $50.00 | $78.4K | 7 | 0 |
About MGM Resorts Intl
MGM Resorts is the largest resort operator on the Las Vegas Strip with 35,000 guest rooms and suites, representing about one fourth of all units in the market. The company's Vegas properties include MGM Grand, Mandalay Bay, Park MGM, Luxor, New York-New York, and Bellagio. The Strip contributed approximately 62% of total EBITDAR in 2023. MGM also owns U.S. regional assets, which represented low-20s of 2023 EBITDAR (MGM's Macao EBITDAR was 17% of the total in 2023). MGM's U.S. sports and iGaming operations are currently a high-single-digit percentage of its total revenue. The company also operates the 56%-owned MGM China casinos with a new property that opened on the Cotai Strip in early 2018. Further, we estimate MGM will open a resort in Japan in 2030.
Having examined the options trading patterns of MGM Resorts Intl, our attention now turns directly to the company. This shift allows us to delve into its present market position and performance
Where Is MGM Resorts Intl Standing Right Now?
- Trading volume stands at 2,654,981, with MGM's price down by -0.14%, positioned at $42.8.
- RSI indicators show the stock to be is currently neutral between overbought and oversold.
- Earnings announcement expected in 46 days.
What Analysts Are Saying About MGM Resorts Intl
A total of 5 professional analysts have given their take on this stock in the last 30 days, setting an average price target of $53.8.
- Maintaining their stance, an analyst from Morgan Stanley continues to hold a Equal-Weight rating for MGM Resorts Intl, targeting a price of $45.
- Consistent in their evaluation, an analyst from Barclays keeps a Overweight rating on MGM Resorts Intl with a target price of $55.
- Consistent in their evaluation, an analyst from JP Morgan keeps a Overweight rating on MGM Resorts Intl with a target price of $54.
- Reflecting concerns, an analyst from Macquarie lowers its rating to Outperform with a new price target of $58.
- An analyst from JMP Securities downgraded its action to Market Outperform with a price target of $57.
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 MGM Resorts Intl options trades with real-time alerts from Benzinga Pro.
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