Caesars Entertainment Options Trading: A Deep Dive into Market Sentiment

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 8 uncommon options trades for Caesars Entertainment.

This isn't normal.

The overall sentiment of these big-money traders is split between 37% bullish and 62%, bearish.

Out of all of the special options we uncovered, 2 are puts, for a total amount of $100,200, and 6 are calls, for a total amount of $678,298.

Predicted Price Range

After evaluating the trading volumes and Open Interest, it's evident that the major market movers are focusing on a price band between $40.0 and $50.0 for Caesars Entertainment, spanning the last three months.

Insights into Volume & Open Interest

In terms of liquidity and interest, the mean open interest for Caesars Entertainment options trades today is 1804.67 with a total volume of 3,053.00.

In the following chart, we are able to follow the development of volume and open interest of call and put options for Caesars Entertainment's big money trades within a strike price range of $40.0 to $50.0 over the last 30 days.

Caesars Entertainment 30-Day Option Volume & Interest Snapshot

Noteworthy Options Activity:

About Caesars Entertainment

Caesars Entertainment includes about 50 domestic gaming properties across Las Vegas (58% of 2022 EBITDAR before corporate and digital expenses) and regional (59%) markets. Additionally, the company hosts managed properties and digital assets, the later of which produced material EBITDA losses in 2022. Caesars' U.S. 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 U.S. portion of William Hill (it sold the international operation in 2022), a digital sports betting platform.

Having examined the options trading patterns of Caesars Entertainment, our attention now turns directly to the company. This shift allows us to delve into its present market position and performance

Where Is Caesars Entertainment Standing Right Now?

• With a trading volume of 1,830,381, the price of CZR is up by 0.99%, reaching $42.87.
• Current RSI values indicate that the stock is is currently neutral between overbought and oversold.
• Next earnings report is scheduled for 6 days from now.

Expert Opinions on Caesars Entertainment

Over the past month, 1 industry analysts have shared their insights on this stock, proposing an average target price of $67.0.

• An analyst from Stifel persists with their Buy rating on Caesars Entertainment, maintaining a target price of $67.

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.