Melco Resorts and Enter Unusual Options Activity For December 08

Someone with a lot of money to spend has taken a bullish stance on Melco Resorts and Enter MLCO.

And retail traders should know.

We noticed this today when the big position showed up on publicly available options history that we track here at Benzinga.

Whether this is an institution or just a wealthy individual, we don't know. But when something this big happens with MLCO, it often means somebody knows something is about to happen.

Today, Benzinga's options scanner spotted 13 options trades for Melco Resorts and Enter.

This isn't normal.

The overall sentiment of these big-money traders is split between 53% bullish and 46%, bearish.

Out of all of the options we uncovered, there was 1 put, for a total amount of $330,000, and 12, calls, for a total amount of $930,508..

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What's The Price Target?

Taking into account the Volume and Open Interest on these contracts, it appears that whales have been targeting a price range from $7.0 to $13.0 for Melco Resorts and Enter over the last 3 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 Melco Resorts and Enter'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 Melco Resorts and Enter's whale trades within a strike price range from $7.0 to $13.0 in the last 30 days.

Melco Resorts and Enter Option Volume And Open Interest Over Last 30 Days

Biggest Options Spotted:

Where Is Melco Resorts and Enter Standing Right Now?

• With a volume of 9,583,255, the price of MLCO is up 12.02% at $11.65.
• RSI indicators hint that the underlying stock may be overbought.
• Next earnings are expected to be released in 82 days.

What The Experts Say On Melco Resorts and Enter:

• JP Morgan upgraded its action to Overweight with a price target of $10

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 Melco Resorts and Enter, Benzinga Pro gives you real-time options trades alerts.