Decoding Caesars Entertainment's Options Activity: What's the Big Picture?

Whales with a lot of money to spend have taken a noticeably bullish stance on Caesars Entertainment.

Looking at options history for Caesars Entertainment CZR we detected 11 trades.

If we consider the specifics of each trade, it is accurate to state that 54% of the investors opened trades with bullish expectations and 36% with bearish.

From the overall spotted trades, 8 are puts, for a total amount of $316,933 and 3, calls, for a total amount of $237,512.

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 $31.0 and $60.0 for Caesars Entertainment, spanning the last three months.

Volume & Open Interest Development

Assessing the volume and open interest is a strategic step in options trading. These metrics shed light on the liquidity and investor interest in Caesars Entertainment's options at specified strike prices. The forthcoming data visualizes the fluctuation in volume and open interest for both calls and puts, linked to Caesars Entertainment's substantial trades, within a strike price spectrum from $31.0 to $60.0 over the preceding 30 days.

Caesars Entertainment Option Activity Analysis: Last 30 Days

Largest Options Trades Observed:

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.

Current Position of Caesars Entertainment

• With a volume of 3,591,403, the price of CZR is down -1.27% at $33.77.
• RSI indicators hint that the underlying stock may be approaching oversold.
• Next earnings are expected to be released in 5 days.

Expert Opinions on Caesars Entertainment

Over the past month, 5 industry analysts have shared their insights on this stock, proposing an average target price of $49.4.

• An analyst from Morgan Stanley has decided to maintain their Equal-Weight rating on Caesars Entertainment, which currently sits at a price target of $41.
• Consistent in their evaluation, an analyst from Jefferies keeps a Buy rating on Caesars Entertainment with a target price of $62.
• Reflecting concerns, an analyst from Susquehanna lowers its rating to Negative with a new price target of $33.
• Maintaining their stance, an analyst from Wells Fargo continues to hold a Overweight rating for Caesars Entertainment, targeting a price of $53.
• An analyst from JMP Securities persists with their Market Outperform rating on Caesars Entertainment, maintaining a target price of $58.

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 Caesars Entertainment with Benzinga Pro for real-time alerts.