A whale with a lot of money to spend has taken a noticeably bearish stance on Caesars Entertainment.
Looking at options history for Caesars Entertainment CZR we detected 11 strange trades.
If we consider the specifics of each trade, it is accurate to state that 0% of the investors opened trades with bullish expectations and 100% with bearish.
From the overall spotted trades, 5 are puts, for a total amount of $235,150 and 6, calls, for a total amount of $228,390.
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 $45.0 to $50.0 for Caesars Entertainment over the last 3 months.
Volume & Open Interest Development
In terms of liquidity and interest, the mean open interest for Caesars Entertainment options trades today is 1325.83 with a total volume of 3,277.00.
In the following chart, we are able to follow the development of volume and open interest of call and put options for Caesars Entertainment's big money trades within a strike price range of $45.0 to $50.0 over the last 30 days.
Caesars Entertainment Option Volume And Open Interest Over Last 30 Days
Biggest Options Spotted:
| Symbol | PUT/CALL | Trade Type | Sentiment | Exp. Date | Strike Price | Total Trade Price | Open Interest | Volume |
|---|---|---|---|---|---|---|---|---|
| CZR | PUT | TRADE | BEARISH | 06/16/23 | $49.00 | $73.5K | 626 | 100 |
| CZR | PUT | TRADE | NEUTRAL | 06/16/23 | $45.00 | $54.7K | 1.2K | 100 |
| CZR | PUT | TRADE | NEUTRAL | 06/16/23 | $45.00 | $54.3K | 1.2K | 0 |
| CZR | CALL | TRADE | BEARISH | 06/16/23 | $48.00 | $44.8K | 2.5K | 465 |
| CZR | CALL | TRADE | BEARISH | 06/16/23 | $48.00 | $38.9K | 2.5K | 267 |
Where Is Caesars Entertainment Standing Right Now?
- With a volume of 1,839,857, the price of CZR is down -2.9% at $45.94.
- RSI indicators hint that the underlying stock may be approaching oversold.
- Next earnings are expected to be released in 50 days.
What The Experts Say On Caesars Entertainment:
- JP Morgan has decided to maintain their Overweight rating on Caesars Entertainment, which currently sits at a price target of $69.
- Morgan Stanley has decided to maintain their Equal-Weight rating on Caesars Entertainment, which currently sits at a price target of $57.
- B. Riley Securities has decided to maintain their Buy rating on Caesars Entertainment, which currently sits at a price target of $111.
- Barclays has decided to maintain their Overweight rating on Caesars Entertainment, which currently sits at a price target of $70.
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 Caesars Entertainment, 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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