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 12 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, 6 are puts, for a total amount of $440,530 and 6, calls, for a total amount of $304,774.
Expected Price Movements
Taking into account the Volume and Open Interest on these contracts, it appears that whales have been targeting a price range from $350.0 to $470.0 for Wingstop over the last 3 months.
Analyzing Volume & Open Interest
Looking at the volume and open interest is a powerful move while trading options. This data can help you track the liquidity and interest for Wingstop'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 Wingstop's whale trades within a strike price range from $350.0 to $470.0 in the last 30 days.
Wingstop 30-Day Option Volume & Interest Snapshot
Biggest Options Spotted:
| Symbol | PUT/CALL | Trade Type | Sentiment | Exp. Date | Ask | Bid | Price | Strike Price | Total Trade Price | Open Interest | Volume |
|---|---|---|---|---|---|---|---|---|---|---|---|
| WING | PUT | TRADE | BULLISH | 06/21/24 | $107.0 | $105.5 | $105.5 | $470.00 | $168.8K | 0 | 20 |
| WING | CALL | TRADE | BEARISH | 04/19/24 | $12.4 | $9.4 | $9.8 | $350.00 | $103.8K | 285 | 250 |
| WING | PUT | TRADE | BULLISH | 07/19/24 | $88.0 | $85.5 | $85.5 | $450.00 | $85.5K | 0 | 10 |
| WING | PUT | TRADE | BULLISH | 07/19/24 | $86.9 | $85.0 | $85.0 | $450.00 | $85.0K | 0 | 10 |
| WING | CALL | TRADE | BULLISH | 06/21/24 | $24.7 | $24.7 | $24.7 | $380.00 | $54.3K | 74 | 0 |
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.
Following our analysis of the options activities associated with Wingstop, we pivot to a closer look at the company's own performance.
Present Market Standing of Wingstop
- With a trading volume of 451,118, the price of WING is down by -2.99%, reaching $359.57.
- Current RSI values indicate that the stock is may be approaching overbought.
- Next earnings report is scheduled for 14 days from now.
What The Experts Say On Wingstop
5 market experts have recently issued ratings for this stock, with a consensus target price of $355.4.
- An analyst from Truist Securities has decided to maintain their Hold rating on Wingstop, which currently sits at a price target of $307.
- Reflecting concerns, an analyst from TD Cowen lowers its rating to Buy with a new price target of $410.
- An analyst from Jefferies persists with their Hold rating on Wingstop, maintaining a target price of $335.
- An analyst from Morgan Stanley has decided to maintain their Equal-Weight rating on Wingstop, which currently sits at a price target of $315.
- In a cautious move, an analyst from TD Cowen downgraded its rating to Buy, setting a price target of $410.
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 Wingstop, 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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