Understanding Recent Options Trends for Wynn Resorts
An Insight into Wynn Resorts' Recent Options Trends
Recently, significant capital has been allocated by prominent investors demonstrating a notably bearish outlook on Wynn Resorts.
Recent Options Trading Activity
The options history for Wynn Resorts (NASDAQ: WYNN) reveals that there have been a total of 19 trades detected. Analyzing these, we see 31% of investors entered trades with bullish expectations, while a substantial 63% adopted a bearish perspective.
Among all observed trades, there were 9 put options amounting to $594,164 and 10 call options totaling $413,152. This stark contrast in trading behavior illustrates the prevailing market sentiment around Wynn Resorts.
Trending Investment Opportunities
Interestingly, whales in the market have recently concentrated their efforts targeting a specific price range for Wynn Resorts, between $87.5 and $165.0 over the past three months.
Volume and Open Interest Insights
Understanding the volume and open interest associated with options contracts provides essential insights into investor sentiment and liquidity for Wynn Resorts. This data allows participants to track activity regarding a given strike price, forming a clearer picture of the market landscape.
The evolution of call and put options volume and open interest for Wynn Resorts illustrates significant whale activity within the defined price range over the last 30 days. Patterns indicate that market players are carefully analyzing their positions and adjusting accordingly based on market fluctuations.
Wynn Resorts Option Activity Analysis
In the last 30 days, we have seen a notable concentration of options trading activity surrounding Wynn Resorts. Here are some of the largest options trades observed:
Largest Options Trades
The trades include a mix of bullish and bearish strategies with specific expiration dates:
- PUT: Price $6.3 for a strike at $95.00, totaling $315.0K.
- CALL: Price $12.4 at a strike of $110.00, totaling $76.6K.
- CALL: Price $9.35 with a strike at $110.00, totaling $54.2K.
- PUT: Price $3.5 with a strike of $108.00, totaling $52.5K.
- CALL: Price $24.7 at a strike of $87.50, totaling $49.5K.
About Wynn Resorts
Wynn Resorts has made a name for itself in the luxury casino and resort sector since its inception in 2002 by founder Steve Wynn. The company's portfolio boasts four major megaresorts: Wynn Macau, Encore in Macau, and Wynn Las Vegas, among others. Additionally, it operates Wynn Interactive, a digital platform for sports betting and iGaming.
Forecasts suggest Wynn Resorts will continue to enhance its offerings beyond gaming in Macau, and plans are underway for a managed integrated resort in the UAE set to open in 2027.
Current Position of Wynn Resorts
As per the latest updates, the volume for shares of WYNN sits at 646,244, with a price of $110.3, marking a 1.16% increase. Relative Strength Index (RSI) indicators currently depict a neutral stance, consistent with neither overbought nor oversold conditions.
Expert Opinions on Wynn Resorts
In recent months, a few analysts have adjusted their outlooks on Wynn Resorts:
- An analyst at Citigroup downgraded their rating to Neutral with a price target of $114.
- UBS maintained a Neutral rating with a target price of $101.
- Barclays holds an Overweight rating on Wynn Resorts with a target price of $127.
- Goldman Sachs has also downgraded to Buy, now targeting $122.
Options trading inherently carries higher risks but also the potential for greater rewards. Investors are encouraged to stay educated, adapt strategies, and closely monitor market movements.
Frequently Asked Questions
What are the recent trading trends for Wynn Resorts?
Recent options trading shows a bearish trend, with more puts than calls being executed.
How many trades were detected for Wynn Resorts?
A total of 19 trades have been detected, with a majority indicating bearish sentiments.
What is the price range targeted by whales for Wynn Resorts?
Whales have targeted a price range between $87.5 and $165.0 over the past three months.
Who founded Wynn Resorts, and what is its primary business?
Wynn Resorts was founded by Steve Wynn and primarily operates luxury casinos and resorts.
What is the current position of the stock?
The stock price is $110.3, having increased by 1.16%, with a volume of 646,244 shares traded.
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