Investors with a lot of money to spend have taken a bullish stance on Wynn Resorts WYNN.
And retail traders should know.
We noticed this today when the trades showed up on publicly available options history that we track here at Benzinga.
Whether these are institutions or just wealthy individuals, we don't know. But when something this big happens with WYNN, it often means somebody knows something is about to happen.
So how do we know what these investors just did?
Today, Benzinga's options scanner spotted 11 uncommon options trades for Wynn Resorts.
This isn't normal.
The overall sentiment of these big-money traders is split between 54% bullish and 27%, bearish.
Out of all of the special options we uncovered, 4 are puts, for a total amount of $188,094, and 7 are calls, for a total amount of $819,513.
Expected Price Movements
After evaluating the trading volumes and Open Interest, it's evident that the major market movers are focusing on a price band between $85.0 and $105.0 for Wynn Resorts, spanning the last three months.
Volume & Open Interest Trends
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 $105.0 in the last 30 days.
Wynn Resorts 30-Day Option Volume & Interest Snapshot
Noteworthy Options Activity:
| Symbol | PUT/CALL | Trade Type | Sentiment | Exp. Date | Ask | Bid | Price | Strike Price | Total Trade Price | Open Interest | Volume |
|---|---|---|---|---|---|---|---|---|---|---|---|
| WYNN | CALL | TRADE | BULLISH | 05/17/24 | $12.3 | $11.9 | $12.3 | $85.00 | $430.5K | 400 | 400 |
| WYNN | CALL | SWEEP | BEARISH | 05/17/24 | $3.75 | $3.3 | $3.3 | $94.00 | $101.6K | 982 | 812 |
| WYNN | CALL | SWEEP | BULLISH | 05/17/24 | $3.25 | $2.84 | $3.25 | $94.00 | $84.8K | 982 | 238 |
| WYNN | CALL | SWEEP | NEUTRAL | 05/17/24 | $4.35 | $3.25 | $3.25 | $94.00 | $72.8K | 982 | 225 |
| WYNN | PUT | SWEEP | BULLISH | 06/20/25 | $15.7 | $15.55 | $15.65 | $105.00 | $62.6K | 86 | 40 |
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 1,071,838, with WYNN's price down by -0.21%, positioned at $96.91.
- RSI indicators show the stock to be may be approaching overbought.
- Earnings announcement expected in 82 days.
What The Experts Say On Wynn Resorts
In the last month, 5 experts released ratings on this stock with an average target price of $131.2.
- An analyst from Barclays persists with their Overweight rating on Wynn Resorts, maintaining a target price of $124.
- An analyst from Stifel persists with their Buy rating on Wynn Resorts, maintaining a target price of $138.
- Consistent in their evaluation, an analyst from Barclays keeps a Overweight rating on Wynn Resorts with a target price of $128.
- An analyst from Citigroup persists with their Buy rating on Wynn Resorts, maintaining a target price of $138.
- Maintaining their stance, an analyst from Wells Fargo continues to hold a Overweight rating for Wynn Resorts, targeting a price of $128.
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 Wynn Resorts with Benzinga Pro for real-time alerts.
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
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