20-Year Pro Trader Reveals His "MoneyLine"
Ditch your indicators and use the "MoneyLine." A simple line tells you when to buy and sell without the guesswork. It’s a line on a chart that’s helped Nic Chahine win 83% of his options buys. Here's how he does it.
Whales with a lot of money to spend have taken a noticeably bearish stance on Wynn Resorts.
Looking at options history for Wynn Resorts (NASDAQ:WYNN) we detected 12 trades.
If we consider the specifics of each trade, it is accurate to state that 41% of the investors opened trades with bullish expectations and 58% with bearish.
From the overall spotted trades, 2 are puts, for a total amount of $278,734 and 10, calls, for a total amount of $1,123,296.
What's The Price Target?
Analyzing the Volume and Open Interest in these contracts, it seems that the big players have been eyeing a price window from $85.0 to $125.0 for Wynn Resorts during the past quarter.
Volume & Open Interest Development
Examining the volume and open interest provides crucial insights into stock research. This information is key in gauging liquidity and interest levels for Wynn Resorts's options at certain strike prices. Below, we present a snapshot of the trends in volume and open interest for calls and puts across Wynn Resorts's significant trades, within a strike price range of $85.0 to $125.0, over the past month.
Wynn Resorts Call and Put Volume: 30-Day Overview
Biggest Options Spotted:
| Symbol | PUT/CALL | Trade Type | Sentiment | Exp. Date | Strike Price | Total Trade Price | Open Interest | Volume |
|---|---|---|---|---|---|---|---|---|
| WYNN | CALL | SWEEP | BEARISH | 01/17/25 | $85.00 | $369.8K | 607 | 362 |
| WYNN | CALL | SWEEP | BEARISH | 01/17/25 | $85.00 | $327.7K | 607 | 165 |
| WYNN | PUT | TRADE | NEUTRAL | 03/15/24 | $92.50 | $238.0K | 952 | 703 |
| WYNN | CALL | SWEEP | BEARISH | 01/17/25 | $120.00 | $106.0K | 566 | 350 |
| WYNN | CALL | TRADE | BULLISH | 01/17/25 | $120.00 | $79.5K | 566 | 150 |
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 open a new building next to its existing Wynn Palace resort in around 2028. 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 Las Vegas, respectively.
Following our analysis of the options activities associated with Wynn Resorts, we pivot to a closer look at the company's own performance.
Where Is Wynn Resorts Standing Right Now?
- With a trading volume of 916,781, the price of WYNN is down by -0.83%, reaching $96.25.
- Current RSI values indicate that the stock is may be approaching overbought.
- Next earnings report is scheduled for 13 days from now.
Expert Opinions on Wynn Resorts
Over the past month, 1 industry analysts have shared their insights on this stock, proposing an average target price of $122.0.
- In a positive move, an analyst from Macquarie has upgraded their rating to Outperform and adjusted the price target to $122.
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.
20-Year Pro Trader Reveals His "MoneyLine"
Ditch your indicators and use the "MoneyLine." A simple line tells you when to buy and sell without the guesswork. It’s a line on a chart that’s helped Nic Chahine win 83% of his options buys. Here's how he does it.
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