Whales with a lot of money to spend have taken a noticeably bullish stance on Wynn Resorts.
Looking at options history for Wynn Resorts WYNN we detected 10 trades.
If we consider the specifics of each trade, it is accurate to state that 50% of the investors opened trades with bullish expectations and 50% with bearish.
From the overall spotted trades, 2 are puts, for a total amount of $86,671 and 8, calls, for a total amount of $981,529.
Latest Startup Investment Opportunities:
Predicted Price Range
Analyzing the Volume and Open Interest in these contracts, it seems that the big players have been eyeing a price window from $80.0 to $105.0 for Wynn Resorts during the past quarter.
Volume & Open Interest Development
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 $80.0 to $105.0 over the preceding 30 days.
Wynn Resorts Call and Put Volume: 30-Day Overview
Noteworthy Options Activity:
| Symbol | PUT/CALL | Trade Type | Sentiment | Exp. Date | Strike Price | Total Trade Price | Open Interest | Volume |
|---|---|---|---|---|---|---|---|---|
| WYNN | CALL | SWEEP | BULLISH | 06/21/24 | $90.00 | $670.0K | 344 | 500 |
| WYNN | CALL | TRADE | BULLISH | 01/19/24 | $80.00 | $83.5K | 2.0K | 51 |
| WYNN | CALL | TRADE | BULLISH | 02/16/24 | $85.00 | $64.0K | 117 | 60 |
| WYNN | PUT | SWEEP | BEARISH | 01/12/24 | $99.00 | $46.9K | 0 | 305 |
| WYNN | CALL | SWEEP | BEARISH | 01/19/24 | $100.00 | $45.9K | 7.9K | 856 |
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 open a new building next to its existing Wynn Palace resort in around 2028. 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 Las Vegas, respectively.
Following our analysis of the options activities associated with Wynn Resorts, we pivot to a closer look at the company's own performance.
Present Market Standing of Wynn Resorts
- With a trading volume of 924,427, the price of WYNN is down by -0.72%, reaching $93.53.
- Current RSI values indicate that the stock is may be overbought.
- Next earnings report is scheduled for 33 days from now.
Trading options involves greater risks but also offers the potential for higher profits. Savvy traders mitigate these risks through ongoing education, strategic trade adjustments, utilizing various indicators, and staying attuned to market dynamics. Keep up with the latest options trades for Wynn Resorts with Benzinga Pro for real-time alerts.
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