Financial giants have made a conspicuous bearish move on Caesars Entertainment. Our analysis of options history for Caesars Entertainment CZR revealed 11 unusual trades.
Delving into the details, we found 9% of traders were bullish, while 63% showed bearish tendencies. Out of all the trades we spotted, 6 were puts, with a value of $590,852, and 5 were calls, valued at $235,255.
Projected Price Targets
Taking into account the Volume and Open Interest on these contracts, it appears that whales have been targeting a price range from $32.0 to $39.0 for Caesars Entertainment over the last 3 months.
Volume & Open Interest Development
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 Caesars Entertainment'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 Caesars Entertainment's whale activity within a strike price range from $32.0 to $39.0 in the last 30 days.
Caesars Entertainment 30-Day Option Volume & Interest Snapshot
Significant Options Trades Detected:
| Symbol | PUT/CALL | Trade Type | Sentiment | Exp. Date | Ask | Bid | Price | Strike Price | Total Trade Price | Open Interest | Volume |
|---|---|---|---|---|---|---|---|---|---|---|---|
| CZR | PUT | TRADE | NEUTRAL | 01/16/26 | $5.45 | $4.8 | $5.15 | $33.00 | $211.1K | 21 | 410 |
| CZR | PUT | TRADE | BEARISH | 05/17/24 | $2.35 | $2.16 | $2.3 | $39.00 | $172.4K | 2.0K | 752 |
| CZR | CALL | SWEEP | BEARISH | 06/21/24 | $2.68 | $2.65 | $2.65 | $38.00 | $61.2K | 56 | 447 |
| CZR | PUT | SWEEP | BEARISH | 12/20/24 | $2.62 | $2.54 | $2.62 | $32.00 | $57.3K | 876 | 438 |
| CZR | PUT | SWEEP | BEARISH | 12/20/24 | $2.62 | $2.53 | $2.62 | $32.00 | $57.3K | 876 | 219 |
About Caesars Entertainment
Caesars Entertainment includes about 50 domestic gaming properties across Las Vegas (49% of 2023 EBITDAR before corporate expenses) and regional (48%) markets. Additionally, the company hosts managed properties and digital assets, the later of which produced marginal EBITDA in 2023. Caesars' US presence roughly doubled with the 2020 acquisition by Eldorado, which built its first casino in Reno, Nevada, in 1973 and expanded its presence through prior acquisitions to over 20 properties before merging with legacy Caesars. Caesars' brands include Caesars, Harrah's, Tropicana, Bally's, Isle, and Flamingo. Also, the company owns the US portion of William Hill (it sold the international operation in 2022), a digital sports betting platform.
Having examined the options trading patterns of Caesars Entertainment, our attention now turns directly to the company. This shift allows us to delve into its present market position and performance
Present Market Standing of Caesars Entertainment
- With a trading volume of 2,119,548, the price of CZR is up by 2.32%, reaching $37.46.
- Current RSI values indicate that the stock is may be approaching oversold.
- Next earnings report is scheduled for 1 days from now.
What The Experts Say On Caesars Entertainment
A total of 5 professional analysts have given their take on this stock in the last 30 days, setting an average price target of $57.4.
- Maintaining their stance, an analyst from JMP Securities continues to hold a Market Outperform rating for Caesars Entertainment, targeting a price of $62.
- Consistent in their evaluation, an analyst from Truist Securities keeps a Buy rating on Caesars Entertainment with a target price of $58.
- Maintaining their stance, an analyst from Deutsche Bank continues to hold a Buy rating for Caesars Entertainment, targeting a price of $59.
- Consistent in their evaluation, an analyst from Morgan Stanley keeps a Equal-Weight rating on Caesars Entertainment with a target price of $45.
- An analyst from Barclays persists with their Overweight rating on Caesars Entertainment, maintaining a target price of $63.
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 Caesars Entertainment 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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