Financial giants have made a conspicuous bullish move on Wingstop. Our analysis of options history for Wingstop WING revealed 23 unusual trades.
Delving into the details, we found 43% of traders were bullish, while 34% showed bearish tendencies. Out of all the trades we spotted, 8 were puts, with a value of $402,167, and 15 were calls, valued at $994,134.
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 $190.0 and $470.0 for Wingstop, spanning the last three months.
Volume & Open Interest Trends
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 Wingstop'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 Wingstop's whale activity within a strike price range from $190.0 to $470.0 in the last 30 days.
Wingstop Option Activity Analysis: Last 30 Days
Largest Options Trades Observed:
| Symbol | PUT/CALL | Trade Type | Sentiment | Exp. Date | Ask | Bid | Price | Strike Price | Total Trade Price | Open Interest | Volume |
|---|---|---|---|---|---|---|---|---|---|---|---|
| WING | CALL | TRADE | BULLISH | 07/19/24 | $118.0 | $115.8 | $118.0 | $280.00 | $236.0K | 57 | 0 |
| WING | CALL | TRADE | BULLISH | 06/21/24 | $194.0 | $190.7 | $194.0 | $190.00 | $194.0K | 1 | 10 |
| WING | PUT | SWEEP | BEARISH | 01/17/25 | $38.4 | $37.7 | $37.89 | $390.00 | $106.1K | 1.0K | 178 |
| WING | CALL | TRADE | BULLISH | 06/21/24 | $22.6 | $22.2 | $22.6 | $390.00 | $97.1K | 496 | 150 |
| WING | CALL | SWEEP | NEUTRAL | 06/21/24 | $29.7 | $26.9 | $28.36 | $380.00 | $84.2K | 396 | 117 |
About Wingstop
Founded in 1994 in Garland, Texas, Wingstop is a restaurant operator specializing in indulgent bone-in and boneless chicken wings, chicken tenders, fries, and, recently, chicken sandwiches. The firm's footprint has grown quickly since its inception, reaching north of 2,200 global stores at the end of 2023, rendering Wingstop the 31st-largest restaurant brand in the U.S. by system sales, according to Euromonitor data. With a 98% franchised model, Wingstop generates the lion share of its revenue from franchise royalties and advertising fees, with the remainder derived from a small footprint of company-owned stores.
After a thorough review of the options trading surrounding Wingstop, we move to examine the company in more detail. This includes an assessment of its current market status and performance.
Where Is Wingstop Standing Right Now?
- Trading volume stands at 712,350, with WING's price up by 6.36%, positioned at $402.6.
- RSI indicators show the stock to be may be approaching overbought.
- Earnings announcement expected in 56 days.
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 Wingstop options trades with real-time alerts from Benzinga Pro.
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