Whales with a lot of money to spend have taken a noticeably bearish stance on Wynn Resorts.
Looking at options history for Wynn Resorts WYNN we detected 8 trades.
If we consider the specifics of each trade, it is accurate to state that 37% of the investors opened trades with bullish expectations and 62% with bearish.
From the overall spotted trades, 2 are puts, for a total amount of $131,525 and 6, calls, for a total amount of $275,565.
Projected Price Targets
After evaluating the trading volumes and Open Interest, it's evident that the major market movers are focusing on a price band between $40.0 and $105.0 for Wynn Resorts, spanning the last three months.
Insights into 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 Wynn Resorts's options at specified strike prices. The forthcoming data visualizes the fluctuation in volume and open interest for both calls and puts, linked to Wynn Resorts's substantial trades, within a strike price spectrum from $40.0 to $105.0 over the preceding 30 days.
Wynn Resorts Option Activity Analysis: Last 30 Days
Significant Options Trades Detected:
| Symbol | PUT/CALL | Trade Type | Sentiment | Exp. Date | Ask | Bid | Price | Strike Price | Total Trade Price | Open Interest | Volume |
|---|---|---|---|---|---|---|---|---|---|---|---|
| WYNN | CALL | SWEEP | BULLISH | 10/18/24 | $2.6 | $2.54 | $2.6 | $80.00 | $85.8K | 3.8K | 988 |
| WYNN | PUT | TRADE | BEARISH | 11/15/24 | $28.25 | $26.35 | $28.25 | $105.00 | $76.2K | 79 | 27 |
| WYNN | PUT | SWEEP | BEARISH | 09/20/24 | $11.1 | $10.9 | $11.05 | $87.50 | $55.2K | 2.9K | 115 |
| WYNN | CALL | SWEEP | BULLISH | 01/17/25 | $5.25 | $5.15 | $5.21 | $80.00 | $52.1K | 1.0K | 240 |
| WYNN | CALL | SWEEP | BEARISH | 09/06/24 | $3.2 | $3.0 | $3.12 | $75.00 | $39.8K | 64 | 182 |
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.
After a thorough review of the options trading surrounding Wynn Resorts, we move to examine the company in more detail. This includes an assessment of its current market status and performance.
Present Market Standing of Wynn Resorts
- Currently trading with a volume of 802,487, the WYNN's price is up by 0.64%, now at $76.62.
- RSI readings suggest the stock is currently is currently neutral between overbought and oversold.
- Anticipated earnings release is in 83 days.
Professional Analyst Ratings for Wynn Resorts
4 market experts have recently issued ratings for this stock, with a consensus target price of $116.0.
- Consistent in their evaluation, an analyst from Macquarie keeps a Outperform rating on Wynn Resorts with a target price of $126.
- Maintaining their stance, an analyst from Wells Fargo continues to hold a Overweight rating for Wynn Resorts, targeting a price of $115.
- Consistent in their evaluation, an analyst from Deutsche Bank keeps a Buy rating on Wynn Resorts with a target price of $122.
- An analyst from JP Morgan has decided to maintain their Overweight rating on Wynn Resorts, which currently sits at a price target of $101.
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.
