Intrepid investors have taken a bold stance on Wynn Resorts, hinting at a tantalizing opportunity that demands scrutiny. Revelations of unorthodox moves in stock options have surfaced, a development not to be taken lightly. While the architects behind these maneuvers remain cloaked in mystery, the magnitude of the activity suggests seismic shifts on the horizon.
Today’s investigation into public options records by Benzinga unearthed 17 extraordinary actions centered around Wynn Resorts, a departure from the norm in market trends.
The stance among these financial titans is split, with 70% professing bullish sentiments and 29% leaning bearish. Notable options include 8 puts valued at $286,342 and 9 calls totaling $397,441.
Insights into Price Movement
By scrutinizing the Volume and Open Interest of these contracts, a picture emerges of whales eyeing a price corridor from $98.0 to $105.0 for Wynn Resorts over the past 3 months.
Unveiling Volume & Open Interest Trends
Delving into the volume and open interest metrics offers a nuanced perspective on stock evaluation.
This data serves as a barometer for the liquidity and market interest in Wynn Resorts’s options at specific strike prices.
Charting the course of volume and open interest for both calls and puts within the $98.0 to $105.0 strike price range over the last 30 days offers enlightening insights.
Analyzing Wynn Resorts Option Activities in the Last Month
Exploring Remarkable Options Movements:
| Symbol | PUT/CALL | Trade Type | Sentiment | Exp. Date | Strike Price | Total Trade Price | Open Interest | Volume |
|---|---|---|---|---|---|---|---|---|
| WYNN | CALL | SWEEP | NEUTRAL | 03/22/24 | $99.00 | $70.6K | 2.3K | 1.0K |
| WYNN | CALL | SWEEP | NEUTRAL | 09/20/24 | $105.00 | $65.6K | 587 | 0 |
| WYNN | PUT | SWEEP | BULLISH | 07/19/24 | $100.00 | $61.1K | 6 | 581 |
| WYNN | CALL | TRADE | BEARISH | 01/17/25 | $105.00 | $57.8K | 1.8K | 6 |
| WYNN | CALL | SWEEP | BULLISH | 03/22/24 | $99.00 | $50.6K | 2.3K | 513 |
Insights into Wynn Resorts
Wynn Resorts is renowned for its opulent casinos and resorts, a vision that materialized in 2002 under the guidance of Steve Wynn, the founding CEO. The empire spans four monumental properties: Wynn Macau and Encore in Macao, Wynn Las Vegas and Encore in Las Vegas. The grandeur expanded with the unveiling of Cotai Palace in Macao in 2016 and Encore Boston Harbor in Massachusetts in 2019. A new addition adjoining the flourishing Wynn Palace resort is slated for debut around 2028. Moreover, the venture encompasses Wynn Interactive, a digital arena for sports betting and iGaming. Macao commanded 76% of the company’s 2019 earnings, with the US contributing the remaining 24%.
Current Position of Wynn Resorts
- With a trading volume of 703,788 shares, Wynn Resorts reflects a 0.75% upswing, now valued at $100.83.
- RSI indicators hint at a neutral stance between overbought and oversold territory.
- Earnings are anticipated to be disclosed in 47 days.
Expert Appraisals on Wynn Resorts
A cohort of 1 market experts recently aired verdicts on this stock, projecting a consensus target price of $123.0.
- An analyst from JP Morgan maintains an Overweight rating on Wynn Resorts, anchoring a target price at $123.
Engaging in options carries certain risks distinct from straightforward stock trading, conferring amplified profit prospects. Astute options aficionados navigate this realm by partaking in daily education, executing trades judiciously, integrating multiple indicators, and keeping a keen eye on market dynamics.
For real-time updates on the latest options maneuvers concerning Wynn Resorts, knowledge seekers are beckoned to tap into the pulse of the market with Benzinga Pro.