MGM Resorts Intl Unusual Options Activity - MGM Resorts Intl (NYSE:MGM)

Financial giants have made a conspicuous bullish move on MGM Resorts Intl. Our analysis of options history for MGM Resorts Intl MGM revealed 15 unusual trades.

Delving into the details, we found 53% of traders were bullish, while 46% showed bearish tendencies. Out of all the trades we spotted, 4 were puts, with a value of $188,950, and 11 were calls, valued at $547,675.

Projected Price Targets

Based on the trading activity, it appears that the significant investors are aiming for a price territory stretching from $30.0 to $55.0 for MGM Resorts Intl over the recent three months.

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 MGM Resorts Intl's options at certain strike prices. Below, we present a snapshot of the trends in volume and open interest for calls and puts across MGM Resorts Intl's significant trades, within a strike price range of $30.0 to $55.0, over the past month.

MGM Resorts Intl Call and Put Volume: 30-Day Overview

Significant Options Trades Detected:

Symbol	PUT/CALL	Trade Type	Sentiment	Exp. Date	Strike Price	Total Trade Price	Open Interest	Volume
MGM	CALL	TRADE	BULLISH	01/16/26	$30.00	$87.5K	80	50
MGM	CALL	TRADE	BULLISH	01/16/26	$30.00	$87.2K	80	50
MGM	PUT	SWEEP	BEARISH	03/15/24	$51.00	$59.5K	40	0
MGM	PUT	TRADE	NEUTRAL	03/15/24	$51.00	$58.8K	40	70
MGM	PUT	SWEEP	BULLISH	01/16/26	$45.00	$45.3K	25	64

About MGM Resorts Intl

MGM Resorts is the largest resort operator on the Las Vegas Strip with 35,000 guest rooms and suites, representing about one fourth of all units in the market. The company's Vegas properties include MGM Grand, Mandalay Bay, Park MGM, Luxor, New York-New York, and Bellagio. The Strip contributed approximately 74% of total EBITDAR in 2022. MGM also owns U.S. regional assets, which represented 31% of 2022 EBITDAR (MGM's Macao EBITDAR was negative in 2022). MGM's U.S. sports and iGaming operations are currently a high-single-digit percentage of its total revenue. The company also operates the 56%-owned MGM China casinos with a new property that opened on the Cotai Strip in early 2018. Further, we estimate MGM will open a resort in Japan in 2030.

In light of the recent options history for MGM Resorts Intl, it's now appropriate to focus on the company itself. We aim to explore its current performance.

Current Position of MGM Resorts Intl

Trading volume stands at 910,080, with MGM's price down by -0.07%, positioned at $42.55.
RSI indicators show the stock to be is currently neutral between overbought and oversold.
Earnings announcement expected in 63 days.

Professional Analyst Ratings for MGM Resorts Intl

Over the past month, 5 industry analysts have shared their insights on this stock, proposing an average target price of $56.2.

An analyst from JMP Securities downgraded its action to Market Outperform with a price target of $57.
An analyst from Barclays has decided to maintain their Overweight rating on MGM Resorts Intl, which currently sits at a price target of $55.
An analyst from JP Morgan persists with their Overweight rating on MGM Resorts Intl, maintaining a target price of $54.
An analyst from Macquarie has revised its rating downward to Outperform, adjusting the price target to $58.
An analyst from JMP Securities has revised its rating downward to Market Outperform, adjusting the price target to $57.

Trading options involves greater risks but also offers the potential for higher profits. Savvy traders mitigate these risks through ongoing education, strategic trade adjustments, utilizing various indicators, and staying attuned to market dynamics. Keep up with the latest options trades for MGM Resorts Intl with Benzinga Pro for real-time alerts.

Market News and Data brought to you by Benzinga APIs