Whales with a lot of money to spend have taken a noticeably bearish stance on Caesars Entertainment.
Looking at options history for Caesars Entertainment CZR we detected 13 trades.
If we consider the specifics of each trade, it is accurate to state that 23% of the investors opened trades with bullish expectations and 76% with bearish.
From the overall spotted trades, 2 are puts, for a total amount of $78,968 and 11, calls, for a total amount of $443,661.
Expected Price Movements
After evaluating the trading volumes and Open Interest, it's evident that the major market movers are focusing on a price band between $38.0 and $45.0 for Caesars Entertainment, spanning the last three months.
Volume & Open Interest Trends
In today's trading context, the average open interest for options of Caesars Entertainment stands at 3132.8, with a total volume reaching 4,363.00. The accompanying chart delineates the progression of both call and put option volume and open interest for high-value trades in Caesars Entertainment, situated within the strike price corridor from $38.0 to $45.0, throughout the last 30 days.
Caesars Entertainment Call and Put Volume: 30-Day Overview
Noteworthy Options Activity:
| Symbol | PUT/CALL | Trade Type | Sentiment | Exp. Date | Ask | Bid | Price | Strike Price | Total Trade Price | Open Interest | Volume |
|---|---|---|---|---|---|---|---|---|---|---|---|
| CZR | CALL | SWEEP | BEARISH | 09/20/24 | $3.9 | $3.85 | $3.85 | $45.00 | $48.1K | 7.6K | 378 |
| CZR | PUT | TRADE | BULLISH | 05/17/24 | $1.24 | $1.19 | $1.2 | $38.00 | $48.0K | 310 | 7 |
| CZR | CALL | SWEEP | BEARISH | 09/20/24 | $3.95 | $3.8 | $3.8 | $45.00 | $47.5K | 7.6K | 378 |
| CZR | CALL | SWEEP | BEARISH | 09/20/24 | $3.8 | $3.7 | $3.7 | $45.00 | $46.2K | 7.6K | 628 |
| CZR | CALL | SWEEP | BEARISH | 09/20/24 | $3.8 | $3.7 | $3.65 | $45.00 | $45.6K | 7.6K | 628 |
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.
After a thorough review of the options trading surrounding Caesars Entertainment, we move to examine the company in more detail. This includes an assessment of its current market status and performance.
Where Is Caesars Entertainment Standing Right Now?
- Trading volume stands at 1,975,806, with CZR's price down by -3.29%, positioned at $40.83.
- RSI indicators show the stock to be may be approaching overbought.
- Earnings announcement expected in 18 days.
Professional Analyst Ratings for Caesars Entertainment
2 market experts have recently issued ratings for this stock, with a consensus target price of $52.0.
- An analyst from Morgan Stanley persists with their Equal-Weight rating on Caesars Entertainment, maintaining a target price of $45.
- Maintaining their stance, an analyst from Deutsche Bank continues to hold a Buy rating for Caesars Entertainment, targeting a price of $59.
Options are a riskier asset compared to just trading the stock, but they have higher profit potential. Serious options traders manage this risk by educating themselves daily, scaling in and out of trades, following more than one indicator, and following the markets closely.
If you want to stay updated on the latest options trades for Caesars Entertainment, Benzinga Pro gives you real-time options trades alerts.
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
Date of Trade | ticker | Put/Call | Strike Price | DTE | Sentiment |
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