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 11 trades.
If we consider the specifics of each trade, it is accurate to state that 54% of the investors opened trades with bullish expectations and 27% with bearish.
From the overall spotted trades, 6 are puts, for a total amount of $493,866 and 5, calls, for a total amount of $211,147.
What's The Price Target?
After evaluating the trading volumes and Open Interest, it's evident that the major market movers are focusing on a price band between $90.0 and $500.0 for Wingstop, spanning the last three months.
Volume & Open Interest Development
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 $90.0 to $500.0 in the last 30 days.
Wingstop Option Volume And Open Interest Over Last 30 Days
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 | 07/19/24 | $63.2 | $61.7 | $61.7 | $450.00 | $123.4K | 311 | 20 |
| WING | PUT | TRADE | BULLISH | 07/19/24 | $62.7 | $61.5 | $61.5 | $450.00 | $123.0K | 311 | 45 |
| WING | PUT | SWEEP | BULLISH | 09/20/24 | $12.7 | $12.1 | $12.31 | $330.00 | $110.9K | 713 | 50 |
| WING | PUT | SWEEP | BEARISH | 01/17/25 | $15.9 | $15.0 | $15.86 | $300.00 | $79.1K | 114 | 53 |
| WING | CALL | TRADE | NEUTRAL | 06/21/24 | $26.7 | $25.7 | $26.15 | $390.00 | $65.3K | 206 | 45 |
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.
Where Is Wingstop Standing Right Now?
- Trading volume stands at 287,409, with WING's price up by 1.32%, positioned at $393.69.
- RSI indicators show the stock to be may be approaching overbought.
- Earnings announcement expected in 86 days.
Professional Analyst Ratings for Wingstop
Over the past month, 5 industry analysts have shared their insights on this stock, proposing an average target price of $395.6.
- Maintaining their stance, an analyst from Citigroup continues to hold a Neutral rating for Wingstop, targeting a price of $398.
- Consistent in their evaluation, an analyst from Wedbush keeps a Outperform rating on Wingstop with a target price of $400.
- An analyst from Truist Securities persists with their Hold rating on Wingstop, maintaining a target price of $345.
- Reflecting concerns, an analyst from Stephens & Co. lowers its rating to Overweight with a new price target of $425.
- 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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