Investors with a lot of money to spend have taken a bullish stance on Wynn Resorts WYNN.
And retail traders should know.
We noticed this today when the positions 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.
Today, Benzinga's options scanner spotted 8 options trades for Wynn Resorts.
This isn't normal.
The overall sentiment of these big-money traders is split between 75% bullish and 12%, bearish.
Out of all of the options we uncovered, there was 1 put, for a total amount of $29,150, and 7, calls, for a total amount of $634,716.
Expected Price Movements
Taking into account the Volume and Open Interest on these contracts, it appears that whales have been targeting a price range from $80.0 to $86.0 for Wynn Resorts over the last 3 months.
Volume & Open Interest Development
Looking at the volume and open interest is a powerful move while trading options. This data can help you track the liquidity and interest for Wynn Resorts'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 Wynn Resorts's whale trades within a strike price range from $80.0 to $86.0 in the last 30 days.
Wynn Resorts Call and Put Volume: 30-Day Overview
Biggest Options Spotted:
| Symbol | PUT/CALL | Trade Type | Sentiment | Exp. Date | Ask | Bid | Price | Strike Price | Total Trade Price | Open Interest | Volume |
|---|---|---|---|---|---|---|---|---|---|---|---|
| WYNN | CALL | TRADE | NEUTRAL | 02/21/25 | $3.6 | $3.4 | $3.5 | $85.00 | $175.0K | 714 | 975 |
| WYNN | CALL | TRADE | BULLISH | 02/21/25 | $3.4 | $3.4 | $3.4 | $85.00 | $152.3K | 714 | 472 |
| WYNN | CALL | SWEEP | BEARISH | 01/24/25 | $1.59 | $1.58 | $1.58 | $84.00 | $122.7K | 466 | 883 |
| WYNN | CALL | SWEEP | BULLISH | 01/31/25 | $2.03 | $1.85 | $2.03 | $84.00 | $64.9K | 1.2K | 776 |
| WYNN | CALL | SWEEP | BULLISH | 01/24/25 | $4.2 | $1.99 | $4.2 | $80.00 | $50.4K | 531 | 120 |
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.
Wynn Resorts's Current Market Status
- Currently trading with a volume of 1,452,533, the WYNN's price is up by 2.35%, now at $84.44.
- RSI readings suggest the stock is currently may be approaching oversold.
- Anticipated earnings release is in 19 days.
Expert Opinions on Wynn Resorts
In the last month, 1 experts released ratings on this stock with an average target price of $105.0.
Turn $1000 into $1270 in just 20 days?
20-year pro options trader reveals his one-line chart technique that shows when to buy and sell. Copy his trades, which have had averaged a 27% profit every 20 days. Click here for access. * Maintaining their stance, an analyst from Jefferies continues to hold a Hold rating for Wynn Resorts, targeting a price of $105.
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.
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