Benzinga | Dec 2, 2021 12:27PM EST

Looking At Penn National Gaming's Recent Whale Trades

A whale with a lot of money to spend has taken a noticeably bearish stance on Penn National Gaming.

Looking at options history for Penn National Gaming (NASDAQ:PENN) we detected 17 strange trades.

If we consider the specifics of each trade, it is accurate to state that 41.18% of the investors opened trades with bullish expectations and 58.82% with bearish.

From the overall spotted trades, 9 are puts, for a total amount of $1,136,771.00 and 8, calls, for a total amount of $420,867.00.

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 $35.0 to $75.0 for Penn National Gaming over the last 3 months.

Volume & Open Interest Development

Looking at the volume and open interest is an insightful way to conduct due diligence on a stock.

This data can help you track the liquidity and interest for Penn National Gaming'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 Penn National Gaming's whale activity within a strike price range from $35.0 to $75.0 in the last 30 days.

Penn National Gaming Option Volume And Open Interest Over Last 30 Days

Biggest Options Spotted:

Symbol PUT/ Trade Sentiment Exp. Strike Total Trade Open Volume CALL Type Date Price Price InterestPENN PUT SWEEP NEUTRAL 12/23/ $65.00 $387.5K 310 230 21PENN PUT TRADE BEARISH 01/21/ $70.00 $208.1K 3.1K 181 22PENN PUT SWEEP BEARISH 01/21/ $70.00 $162.9K 3.1K 86 22PENN PUT SWEEP BULLISH 12/23/ $65.00 $107.8K 310 325 21PENN PUT SWEEP BULLISH 01/21/ $70.00 $96.8K 3.1K 225 22

Where Is Penn National Gaming Standing Right Now?

* With a volume of 1,963,999.00, the price of PENN is up 3.76% at $49.66.

* RSI indicators hint that the underlying stock may be approaching oversold.

* Next earnings are expected to be released in 63 days.

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.

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