Whales with a lot of money to spend have taken a noticeably bullish stance on Wingstop.
Looking at options history for Wingstop WING we detected 14 trades.
If we consider the specifics of each trade, it is accurate to state that 50% of the investors opened trades with bullish expectations and 50% with bearish.
From the overall spotted trades, 12 are puts, for a total amount of $749,460 and 2, calls, for a total amount of $83,735.
Projected Price Targets
Based on the trading activity, it appears that the significant investors are aiming for a price territory stretching from $250.0 to $400.0 for Wingstop over the recent three months.
Volume & Open Interest Development
In terms of liquidity and interest, the mean open interest for Wingstop options trades today is 234.5 with a total volume of 1,363.00.
In the following chart, we are able to follow the development of volume and open interest of call and put options for Wingstop's big money trades within a strike price range of $250.0 to $400.0 over the last 30 days.
Wingstop 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 |
|---|---|---|---|---|---|---|---|---|
| WING | PUT | TRADE | BEARISH | 06/21/24 | $380.00 | $152.5K | 481 | 25 |
| WING | PUT | TRADE | BULLISH | 04/19/24 | $330.00 | $93.7K | 524 | 54 |
| WING | PUT | SWEEP | BEARISH | 06/21/24 | $380.00 | $90.3K | 481 | 10 |
| WING | PUT | TRADE | BULLISH | 04/19/24 | $330.00 | $60.0K | 524 | 229 |
| WING | PUT | SWEEP | BULLISH | 04/19/24 | $330.00 | $59.5K | 524 | 229 |
About Wingstop
Founded in 1994 in Garland, Texas, Wingstop is a restaurant operator specializing in indulgent bone-in and boneless chicken wings, chicken tenders, fries, and, recently, chicken sandwiches. The firm's footprint has grown quickly since its inception, reaching north of 2,200 global stores at the end of 2023, rendering Wingstop the 31st-largest restaurant brand in the U.S. by system sales, according to Euromonitor data. With a 98% franchised model, Wingstop generates the lion share of its revenue from franchise royalties and advertising fees, with the remainder derived from a small footprint of company-owned stores.
After a thorough review of the options trading surrounding Wingstop, we move to examine the company in more detail. This includes an assessment of its current market status and performance.
Present Market Standing of Wingstop
- With a volume of 206,568, the price of WING is down 0.0% at $339.55.
- RSI indicators hint that the underlying stock may be approaching overbought.
- Next earnings are expected to be released in 43 days.
Professional Analyst Ratings for Wingstop
A total of 5 professional analysts have given their take on this stock in the last 30 days, setting an average price target of $324.4.
- Maintaining their stance, an analyst from Baird continues to hold a Outperform rating for Wingstop, targeting a price of $340.
- Maintaining their stance, an analyst from Wedbush continues to hold a Outperform rating for Wingstop, targeting a price of $340.
- Reflecting concerns, an analyst from TD Cowen lowers its rating to Outperform with a new price target of $295.
- Consistent in their evaluation, an analyst from TD Cowen keeps a Outperform rating on Wingstop with a target price of $355.
- Maintaining their stance, an analyst from Truist Securities continues to hold a Hold rating for Wingstop, targeting a price of $292.
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 Wingstop options trades with real-time alerts from Benzinga Pro.
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
Date of Trade | ticker | Put/Call | Strike Price | DTE | Sentiment |
|---|
Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.
