Financial giants have made a conspicuous bullish move on Wingstop. Our analysis of options history for Wingstop WING revealed 10 unusual trades.
Delving into the details, we found 40% of traders were bullish, while 30% showed bearish tendencies. Out of all the trades we spotted, 6 were puts, with a value of $353,186, and 4 were calls, valued at $139,665.
What's The Price Target?
Taking into account the Volume and Open Interest on these contracts, it appears that whales have been targeting a price range from $135.0 to $450.0 for Wingstop over the last 3 months.
Analyzing Volume & Open Interest
Assessing the volume and open interest is a strategic step in options trading. These metrics shed light on the liquidity and investor interest in Wingstop's options at specified strike prices. The forthcoming data visualizes the fluctuation in volume and open interest for both calls and puts, linked to Wingstop's substantial trades, within a strike price spectrum from $135.0 to $450.0 over the preceding 30 days.
Wingstop 30-Day Option Volume & Interest Snapshot
Biggest Options Spotted:
| Symbol | PUT/CALL | Trade Type | Sentiment | Exp. Date | Ask | Bid | Price | Strike Price | Total Trade Price | Open Interest | Volume |
|---|---|---|---|---|---|---|---|---|---|---|---|
| WING | PUT | TRADE | BULLISH | 07/19/24 | $62.7 | $58.7 | $58.6 | $450.00 | $169.9K | 440 | 0 |
| WING | CALL | SWEEP | BULLISH | 09/20/24 | $55.1 | $54.1 | $55.1 | $350.00 | $60.6K | 54 | 0 |
| WING | PUT | SWEEP | NEUTRAL | 01/16/26 | $105.7 | $101.9 | $103.98 | $450.00 | $51.9K | 9 | 1 |
| WING | PUT | SWEEP | NEUTRAL | 08/16/24 | $20.3 | $18.7 | $20.3 | $380.00 | $40.6K | 33 | 0 |
| WING | PUT | SWEEP | BEARISH | 01/16/26 | $12.5 | $11.6 | $12.5 | $220.00 | $31.2K | 171 | 0 |
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.
Having examined the options trading patterns of Wingstop, 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 Wingstop
- Trading volume stands at 148,735, with WING's price down by -0.01%, positioned at $395.0.
- RSI indicators show the stock to be may be approaching oversold.
- Earnings announcement expected in 21 days.
Professional Analyst Ratings for Wingstop
Over the past month, 5 industry analysts have shared their insights on this stock, proposing an average target price of $423.4.
- An analyst from TD Cowen persists with their Buy rating on Wingstop, maintaining a target price of $450.
- An analyst from Truist Securities persists with their Hold rating on Wingstop, maintaining a target price of $393.
- Consistent in their evaluation, an analyst from Truist Securities keeps a Hold rating on Wingstop with a target price of $407.
- Maintaining their stance, an analyst from Stifel continues to hold a Buy rating for Wingstop, targeting a price of $460.
- Reflecting concerns, an analyst from Goldman Sachs lowers its rating to Neutral with a new price target of $407.
Options are a riskier asset compared to just trading the stock, but they have higher profit potential. Serious options traders manage this risk by educating themselves daily, scaling in and out of trades, following more than one indicator, and following the markets closely.
If you want to stay updated on the latest options trades for Wingstop, Benzinga Pro gives you real-time options trades alerts.
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
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Date of Trade | ticker | Put/Call | Strike Price | DTE | Sentiment |
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