Investors with a lot of money to spend have taken a bearish stance on Wynn Resorts WYNN.
And retail traders should know.
We noticed this today when the trades showed up on publicly available options history that we track here at Benzinga.
Whether these are institutions or just wealthy individuals, we don't know. But when something this big happens with WYNN, it often means somebody knows something is about to happen.
So how do we know what these investors just did?
Today, Benzinga's options scanner spotted 9 uncommon options trades for Wynn Resorts.
This isn't normal.
The overall sentiment of these big-money traders is split between 33% bullish and 55%, bearish.
Out of all of the special options we uncovered, 3 are puts, for a total amount of $151,990, and 6 are calls, for a total amount of $221,505.
What's The Price Target?
After evaluating the trading volumes and Open Interest, it's evident that the major market movers are focusing on a price band between $81.0 and $110.0 for Wynn Resorts, spanning the last three months.
Volume & Open Interest Development
In terms of liquidity and interest, the mean open interest for Wynn Resorts options trades today is 1064.89 with a total volume of 1,081.00.
In the following chart, we are able to follow the development of volume and open interest of call and put options for Wynn Resorts's big money trades within a strike price range of $81.0 to $110.0 over the last 30 days.
Wynn Resorts 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 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| WYNN | PUT | SWEEP | BULLISH | 11/15/24 | $5.0 | $4.9 | $4.95 | $82.50 | $59.8K | 1.4K | 164 |
| WYNN | CALL | TRADE | BULLISH | 08/02/24 | $2.88 | $2.16 | $2.88 | $81.00 | $57.6K | 341 | 200 |
| WYNN | PUT | TRADE | BEARISH | 06/20/25 | $27.25 | $27.0 | $27.25 | $110.00 | $51.7K | 75 | 19 |
| WYNN | PUT | SWEEP | BEARISH | 12/20/24 | $5.6 | $5.5 | $5.6 | $82.50 | $40.3K | 4.1K | 78 |
| WYNN | CALL | TRADE | BULLISH | 08/09/24 | $0.95 | $0.9 | $0.95 | $88.00 | $38.0K | 1.2K | 11 |
About Wynn Resorts
Wynn Resorts operates luxury casinos and resorts. The company was founded in 2002 by Steve Wynn, the former CEO. The company operates four megaresorts: Wynn Macau and Encore in Macao and Wynn Las Vegas and Encore in Las Vegas. Cotai Palace opened in August 2016 in Macao, and Encore Boston Harbor in Massachusetts opened June 2019. We expect the company to continue to build nongaming attractions in Macao over the next few years. We model Wynn's managed integrated resort in the United Arab Emirates to open in 2027. The company also operates Wynn Interactive, a digital sports betting and iGaming platform. The company received 76% and 24% of its 2019 prepandemic EBITDA from Macao and the US, respectively.
Where Is Wynn Resorts Standing Right Now?
- Currently trading with a volume of 1,040,628, the WYNN's price is up by 1.41%, now at $83.67.
- RSI readings suggest the stock is currently is currently neutral between overbought and oversold.
- Anticipated earnings release is in 6 days.
What Analysts Are Saying About Wynn Resorts
In the last month, 5 experts released ratings on this stock with an average target price of $117.2.
- An analyst from Jefferies persists with their Hold rating on Wynn Resorts, maintaining a target price of $96.
- An analyst from Morgan Stanley persists with their Equal-Weight rating on Wynn Resorts, maintaining a target price of $107.
- An analyst from Wells Fargo persists with their Overweight rating on Wynn Resorts, maintaining a target price of $126.
- Maintaining their stance, an analyst from Deutsche Bank continues to hold a Buy rating for Wynn Resorts, targeting a price of $131.
- An analyst from Macquarie persists with their Outperform rating on Wynn Resorts, maintaining a target price of $126.
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 Wynn Resorts options trades with real-time alerts from Benzinga Pro.
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
Comments
Date of Trade | ticker | Put/Call | Strike Price | DTE | Sentiment |
|---|
Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.
