Behind the Scenes of Wynn Resorts's Latest Options Trends

Investors with a lot of money to spend have taken a bullish stance on Wynn Resorts WYNN.

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 WYNN, 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 8 uncommon options trades for Wynn Resorts.

This isn't normal.

The overall sentiment of these big-money traders is split between 50% bullish and 37%, bearish.

Out of all of the special options we uncovered, 2 are puts, for a total amount of $69,355, and 6 are calls, for a total amount of $249,126.

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 $70.0 and $97.5 for Wynn Resorts, spanning the last three months.

Volume & Open Interest Trends

Assessing the volume and open interest is a strategic step in options trading. These metrics shed light on the liquidity and investor interest in Wynn Resorts's options at specified strike prices. The forthcoming data visualizes the fluctuation in volume and open interest for both calls and puts, linked to Wynn Resorts's substantial trades, within a strike price spectrum from $70.0 to $97.5 over the preceding 30 days.

Wynn Resorts 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
WYNN CALL TRADE BEARISH 08/16/24 $26.0 $24.5 $24.5 $70.00 $49.0K 0 20
WYNN CALL SWEEP BEARISH 12/19/25 $19.7 $19.15 $19.15 $90.00 $47.9K 165 79
WYNN CALL TRADE BEARISH 01/17/25 $8.75 $8.6 $8.6 $97.50 $43.0K 645 101
WYNN CALL SWEEP BULLISH 03/21/25 $13.8 $13.65 $13.8 $90.00 $41.3K 1 53
WYNN CALL TRADE BULLISH 12/19/25 $19.35 $18.8 $19.2 $90.00 $38.4K 165 110

About Wynn Resorts

Wynn Resorts operates luxury casinos and resorts. The company was founded in 2002 by Steve Wynn, the former CEO. The company operates four megaresorts: Wynn Macau and Encore in Macao and Wynn Las Vegas and Encore in Las Vegas. Cotai Palace opened in August 2016 in Macao, and Encore Boston Harbor in Massachusetts opened June 2019. We expect the company to continue to build nongaming attractions in Macao over the next few years. We model Wynn's managed integrated resort in the United Arab Emirates to open in 2027. The company also operates Wynn Interactive, a digital sports betting and iGaming platform. The company received 76% and 24% of its 2019 prepandemic EBITDA from Macao and the US, respectively.

Present Market Standing of Wynn Resorts

  • Currently trading with a volume of 360,650, the WYNN's price is down by -1.81%, now at $93.19.
  • RSI readings suggest the stock is currently may be approaching oversold.
  • Anticipated earnings release is in 64 days.

Expert Opinions on Wynn Resorts

5 market experts have recently issued ratings for this stock, with a consensus target price of $129.6.

  • Consistent in their evaluation, an analyst from Citigroup keeps a Buy rating on Wynn Resorts with a target price of $138.
  • An analyst from Stifel has decided to maintain their Buy rating on Wynn Resorts, which currently sits at a price target of $138.
  • Maintaining their stance, an analyst from Barclays continues to hold a Overweight rating for Wynn Resorts, targeting a price of $128.
  • Consistent in their evaluation, an analyst from Wells Fargo keeps a Overweight rating on Wynn Resorts with a target price of $128.
  • In a positive move, an analyst from Seaport Global has upgraded their rating to Buy and adjusted the price target to $116.

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 Wynn Resorts options trades with real-time alerts from Benzinga Pro.

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Posted In: OptionsMarketsBZI-UOA
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