Spotlight on Caesars Entertainment: Analyzing the Surge in Options Activity

Investors with a lot of money to spend have taken a bullish stance on Caesars Entertainment CZR.

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 CZR, it often means somebody knows something is about to happen.

Today, Benzinga's options scanner spotted 20 options trades for Caesars Entertainment.

This isn't normal.

The overall sentiment of these big-money traders is split between 55% bullish and 45%, bearish.

Out of all of the options we uncovered, there was 1 put, for a total amount of $28,275, and 19, calls, for a total amount of $1,341,138.

Projected Price Targets

After evaluating the trading volumes and Open Interest, it's evident that the major market movers are focusing on a price band between $36.0 and $60.0 for Caesars Entertainment, spanning the last three months.

Insights into Volume & Open Interest

Looking at the volume and open interest is an insightful way to conduct due diligence on a stock.

This data can help you track the liquidity and interest for Caesars Entertainment'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 Caesars Entertainment's whale activity within a strike price range from $36.0 to $60.0 in the last 30 days.

Caesars Entertainment Option Volume And Open Interest Over Last 30 Days

Largest Options Trades Observed:

About Caesars Entertainment

Caesars Entertainment includes about 50 domestic gaming properties across Las Vegas (49% of 2023 EBITDAR before corporate expenses) and regional (48%) markets. Additionally, the company hosts managed properties and digital assets, the later of which produced marginal EBITDA in 2023. Caesars' US 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 US 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

Caesars Entertainment's Current Market Status

• Trading volume stands at 581,195, with CZR's price up by 0.77%, positioned at $39.47.
• RSI indicators show the stock to be is currently neutral between overbought and oversold.
• Earnings announcement expected in 43 days.

What The Experts Say On Caesars Entertainment

In the last month, 5 experts released ratings on this stock with an average target price of $57.2.

• Consistent in their evaluation, an analyst from Wells Fargo keeps a Overweight rating on Caesars Entertainment with a target price of $68.
• An analyst from Barclays persists with their Overweight rating on Caesars Entertainment, maintaining a target price of $65.
• Maintaining their stance, an analyst from Susquehanna continues to hold a Neutral rating for Caesars Entertainment, targeting a price of $44.
• Consistent in their evaluation, an analyst from Morgan Stanley keeps a Equal-Weight rating on Caesars Entertainment with a target price of $44.
• Reflecting concerns, an analyst from JMP Securities lowers its rating to Market Outperform with a new price target of $65.

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 Caesars Entertainment with Benzinga Pro for real-time alerts.