Wynn Resorts's Options: A Look at What the Big Money is Thinking

Whales with a lot of money to spend have taken a noticeably bullish 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 75% of the investors opened trades with bullish expectations and 0% with bearish.

From the overall spotted trades, 4 are puts, for a total amount of $1,428,035 and 4, calls, for a total amount of $342,622.

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Projected Price Targets

Taking into account the Volume and Open Interest on these contracts, it appears that whales have been targeting a price range from $65.0 to $120.0 for Wynn Resorts over the last 3 months.

Analyzing Volume & Open Interest

In today's trading context, the average open interest for options of Wynn Resorts stands at 1123.62, with a total volume reaching 2,983.00. The accompanying chart delineates the progression of both call and put option volume and open interest for high-value trades in Wynn Resorts, situated within the strike price corridor from $65.0 to $120.0, throughout the last 30 days.

Wynn Resorts Option Activity Analysis: Last 30 Days

Largest Options Trades Observed:

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.

Wynn Resorts's Current Market Status

• With a volume of 1,115,550, the price of WYNN is down -0.35% at $77.09.
• RSI indicators hint that the underlying stock is currently neutral between overbought and oversold.
• Next earnings are expected to be released in 77 days.

What The Experts Say On Wynn Resorts

Over the past month, 4 industry analysts have shared their insights on this stock, proposing an average target price of $116.0.

• 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 Macquarie has decided to maintain their Outperform rating on Wynn Resorts, which currently sits at a price target of $126.
• An analyst from JP Morgan persists with their Overweight rating on Wynn Resorts, maintaining a target price of $101.
• An analyst from Wells Fargo has decided to maintain their Overweight rating on Wynn Resorts, which currently sits at a price target of $115.

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 Wynn Resorts, Benzinga Pro gives you real-time options trades alerts.