Investors with a lot of money to spend have taken a bearish stance on Caesars Entertainment CZR.
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 CZR, 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 12 uncommon options trades for Caesars Entertainment.
This isn't normal.
The overall sentiment of these big-money traders is split between 16% bullish and 58%, bearish.
Out of all of the special options we uncovered, 5 are puts, for a total amount of $162,104, and 7 are calls, for a total amount of $656,102.
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 $35.0 and $44.0 for Caesars Entertainment, spanning the last three months.
Insights into Volume & Open Interest
Looking at the volume and open interest is an insightful way to conduct due diligence on a stock.
This data can help you track the liquidity and interest for Caesars Entertainment's options for a given strike price.
Below, we can observe the evolution of the volume and open interest of calls and puts, respectively, for all of Caesars Entertainment's whale activity within a strike price range from $35.0 to $44.0 in the last 30 days.
Caesars Entertainment Option Volume And Open Interest Over Last 30 Days
Noteworthy Options Activity:
| Symbol | PUT/CALL | Trade Type | Sentiment | Exp. Date | Ask | Bid | Price | Strike Price | Total Trade Price | Open Interest | Volume |
|---|---|---|---|---|---|---|---|---|---|---|---|
| CZR | CALL | SWEEP | BEARISH | 12/20/24 | $3.85 | $3.75 | $3.8 | $40.00 | $148.5K | 1.2K | 134 |
| CZR | CALL | SWEEP | BEARISH | 09/27/24 | $1.54 | $1.4 | $1.45 | $39.00 | $146.0K | 628 | 1.2K |
| CZR | CALL | SWEEP | BEARISH | 09/20/24 | $1.11 | $1.03 | $1.05 | $39.00 | $106.4K | 2.1K | 1.1K |
| CZR | CALL | TRADE | BULLISH | 12/20/24 | $3.85 | $3.7 | $3.8 | $40.00 | $95.0K | 1.2K | 690 |
| CZR | CALL | TRADE | BEARISH | 09/20/24 | $0.91 | $0.83 | $0.86 | $39.50 | $86.0K | 170 | 1.0K |
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.
In light of the recent options history for Caesars Entertainment, it's now appropriate to focus on the company itself. We aim to explore its current performance.
Where Is Caesars Entertainment Standing Right Now?
- Trading volume stands at 4,891,364, with CZR's price up by 1.44%, positioned at $39.43.
- RSI indicators show the stock to be may be approaching overbought.
- Earnings announcement expected in 43 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 $49.5.
- An analyst from Morgan Stanley has decided to maintain their Equal-Weight rating on Caesars Entertainment, which currently sits at a price target of $40.
- An analyst from JMP Securities persists with their Market Outperform rating on Caesars Entertainment, maintaining a target price of $59.
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 Caesars Entertainment options trades with real-time alerts from Benzinga Pro.
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
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