Financial giants have made a conspicuous bearish move on Wingstop. Our analysis of options history for Wingstop WING revealed 8 unusual trades.
Delving into the details, we found 37% of traders were bullish, while 50% showed bearish tendencies. Out of all the trades we spotted, 4 were puts, with a value of $142,935, and 4 were calls, valued at $266,142.
Projected Price Targets
Taking into account the Volume and Open Interest on these contracts, it appears that whales have been targeting a price range from $280.0 to $460.0 for Wingstop over the last 3 months.
Insights into Volume & Open Interest
In today's trading context, the average open interest for options of Wingstop stands at 127.12, with a total volume reaching 188.00. The accompanying chart delineates the progression of both call and put option volume and open interest for high-value trades in Wingstop, situated within the strike price corridor from $280.0 to $460.0, throughout the last 30 days.
Wingstop Option Volume And Open Interest Over Last 30 Days
Significant Options Trades Detected:
| Symbol | PUT/CALL | Trade Type | Sentiment | Exp. Date | Ask | Bid | Price | Strike Price | Total Trade Price | Open Interest | Volume |
|---|---|---|---|---|---|---|---|---|---|---|---|
| WING | CALL | TRADE | BEARISH | 06/21/24 | $107.4 | $106.0 | $106.0 | $280.00 | $159.0K | 113 | 0 |
| WING | PUT | SWEEP | BEARISH | 05/17/24 | $23.1 | $22.8 | $23.1 | $390.00 | $57.7K | 26 | 26 |
| WING | CALL | TRADE | BEARISH | 05/17/24 | $24.5 | $24.0 | $24.0 | $380.00 | $48.0K | 307 | 32 |
| WING | CALL | TRADE | BULLISH | 05/17/24 | $98.8 | $96.5 | $98.8 | $290.00 | $29.6K | 10 | 3 |
| WING | PUT | TRADE | BULLISH | 07/19/24 | $39.0 | $37.0 | $37.0 | $400.00 | $29.6K | 37 | 8 |
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.
Current Position of Wingstop
- With a volume of 715,464, the price of WING is up 0.59% at $384.82.
- RSI indicators hint that the underlying stock may be approaching overbought.
- Next earnings are expected to be released in 2 days.
What Analysts Are Saying About Wingstop
Over the past month, 5 industry analysts have shared their insights on this stock, proposing an average target price of $346.8.
- An analyst from Truist Securities persists with their Hold rating on Wingstop, maintaining a target price of $307.
- Reflecting concerns, an analyst from TD Cowen lowers its rating to Buy with a new price target of $410.
- Reflecting concerns, an analyst from TD Cowen lowers its rating to Buy with a new price target of $410.
- Maintaining their stance, an analyst from Morgan Stanley continues to hold a Equal-Weight rating for Wingstop, targeting a price of $315.
- An analyst from Truist Securities persists with their Hold rating on Wingstop, maintaining a target 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.
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Date of Trade | ticker | Put/Call | Strike Price | DTE | Sentiment |
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