Financial giants have made a conspicuous bullish move on PENN Entertainment. Our analysis of options history for PENN Entertainment PENN revealed 12 unusual trades.
Delving into the details, we found 66% of traders were bullish, while 16% showed bearish tendencies. Out of all the trades we spotted, 3 were puts, with a value of $203,153, and 9 were calls, valued at $453,711.
Predicted Price Range
After evaluating the trading volumes and Open Interest, it's evident that the major market movers are focusing on a price band between $15.0 and $22.5 for PENN Entertainment, spanning the last three months.
Analyzing Volume & Open Interest
In terms of liquidity and interest, the mean open interest for PENN Entertainment options trades today is 4221.1 with a total volume of 19,889.00.
In the following chart, we are able to follow the development of volume and open interest of call and put options for PENN Entertainment's big money trades within a strike price range of $15.0 to $22.5 over the last 30 days.
PENN Entertainment Option Volume And Open Interest Over 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 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| PENN | CALL | TRADE | BEARISH | 10/18/24 | $2.34 | $2.28 | $2.19 | $20.00 | $131.1K | 19.1K | 28 |
| PENN | PUT | SWEEP | BULLISH | 10/18/24 | $4.25 | $4.15 | $4.15 | $22.50 | $86.3K | 494 | 0 |
| PENN | PUT | SWEEP | BULLISH | 09/20/24 | $3.9 | $3.75 | $3.75 | $22.50 | $72.7K | 1.8K | 7 |
| PENN | CALL | SWEEP | BEARISH | 07/19/24 | $5.0 | $4.85 | $4.9 | $15.00 | $65.6K | 7.4K | 354 |
| PENN | CALL | SWEEP | NEUTRAL | 06/28/24 | $0.3 | $0.19 | $0.29 | $19.50 | $60.8K | 1.2K | 5.3K |
About PENN Entertainment
Penn Entertainment's origins date back to its 1972 racetrack opening in Pennsylvania. Today, Penn operates 43 properties across 20 states and 12 brands, including Hollywood Casino and Ameristar. Land-based casinos represented 89% of total sales in 2023; 11% was from the interactive segment, which includes sports, iGaming, and media revenue. The retail portfolio generates mid-30s EBITDAR margins and helps position the company to obtain licenses for the digital wagering markets. Additionally, Penn's media assets, theScore and ESPN (starting with its partnership launch in November 2023), provide access to sports betting/iGaming technology and clientele, helping it form a leading digital position.
Present Market Standing of PENN Entertainment
- With a volume of 5,750,868, the price of PENN is up 2.46% at $19.36.
- RSI indicators hint that the underlying stock may be approaching overbought.
- Next earnings are expected to be released in 41 days.
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 PENN Entertainment with Benzinga Pro for real-time alerts.
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
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