Wingstop's Options: A Look at What the Big Money is Thinking

Investors with a lot of money to spend have taken a bullish stance on Wingstop WING.

And retail traders should know.

We noticed this today when the trades 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 WING, it often means somebody knows something is about to happen.

So how do we know what these investors just did?

Today, Benzinga's options scanner spotted 18 uncommon options trades for Wingstop.

This isn't normal.

The overall sentiment of these big-money traders is split between 44% bullish and 44%, bearish.

Out of all of the special options we uncovered, 5 are puts, for a total amount of $1,500,341, and 13 are calls, for a total amount of $2,249,746.

Expected Price Movements

Based on the trading activity, it appears that the significant investors are aiming for a price territory stretching from $230.0 to $460.0 for Wingstop over the recent 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 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 activity within a strike price range from $230.0 to $460.0 in the last 30 days.

Wingstop 30-Day Option Volume & Interest Snapshot

Significant Options Trades Detected:

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.

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

Current Position of Wingstop

• With a volume of 262,986, the price of WING is up 3.54% at $383.0.
• RSI indicators hint that the underlying stock may be approaching overbought.
• Next earnings are expected to be released in 5 days.

What Analysts Are Saying About Wingstop

5 market experts have recently issued ratings for this stock, with a consensus target price of $353.4.

• An analyst from Truist Securities persists with their Hold rating on Wingstop, maintaining a target price of $307.
• An analyst from TD Cowen has revised its rating downward to Buy, adjusting the price target to $410.
• An analyst from Jefferies has decided to maintain their Hold rating on Wingstop, which currently sits at a price target of $335.
• Maintaining their stance, an analyst from Wedbush continues to hold a Outperform rating for Wingstop, targeting a price of $400.
• Consistent in their evaluation, an analyst from Morgan Stanley keeps a Equal-Weight rating on Wingstop with a target price of $315.

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.