High-rolling investors have positioned themselves bearish on Caesars Entertainment CZR, and it's important for retail traders to take note. \This activity came to our attention today through Benzinga's tracking of publicly available options data. The identities of these investors are uncertain, but such a significant move in CZR often signals that someone has privileged information.
Today, Benzinga's options scanner spotted 10 options trades for Caesars Entertainment. This is not a typical pattern.
The sentiment among these major traders is split, with 40% bullish and 50% bearish. Among all the options we identified, there was one put, amounting to $111,550, and 9 calls, totaling $438,782.
Predicted Price Range
Analyzing the Volume and Open Interest in these contracts, it seems that the big players have been eyeing a price window from $34.5 to $60.0 for Caesars Entertainment during the past quarter.
Insights into Volume & Open Interest
In terms of liquidity and interest, the mean open interest for Caesars Entertainment options trades today is 3667.5 with a total volume of 1,450.00.
In the following chart, we are able to follow the development of volume and open interest of call and put options for Caesars Entertainment's big money trades within a strike price range of $34.5 to $60.0 over the last 30 days.
Caesars Entertainment Call and Put Volume: 30-Day Overview
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 | SWEEP | BULLISH | 12/18/26 | $13.2 | $11.5 | $11.5 | $45.00 | $111.5K | 37 | 3 |
| CZR | CALL | SWEEP | BEARISH | 09/20/24 | $5.0 | $4.65 | $5.0 | $36.00 | $62.5K | 1.1K | 127 |
| CZR | CALL | SWEEP | BEARISH | 09/20/24 | $4.95 | $4.6 | $4.95 | $36.00 | $61.8K | 1.1K | 502 |
| CZR | CALL | SWEEP | BEARISH | 09/20/24 | $5.0 | $4.9 | $4.9 | $36.00 | $61.2K | 1.1K | 377 |
| CZR | CALL | SWEEP | BEARISH | 09/20/24 | $4.95 | $4.9 | $4.9 | $36.00 | $61.2K | 1.1K | 252 |
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
- Trading volume stands at 2,798,654, with CZR's price up by 0.69%, positioned at $39.23.
- RSI indicators show the stock to be may be approaching overbought.
- Earnings announcement expected in 18 days.
Professional Analyst Ratings for Caesars Entertainment
Over the past month, 2 industry analysts have shared their insights on this stock, proposing an average target price of $51.5.
- An analyst from Jefferies persists with their Buy rating on Caesars Entertainment, maintaining a target price of $62.
- Consistent in their evaluation, an analyst from Morgan Stanley keeps a Equal-Weight rating on Caesars Entertainment with a target price of $41.
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 Caesars Entertainment, 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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