Benzinga | Dec 22, 2021 01:08PM EST

What Are Whales Doing With Wynn Resorts

A whale with a lot of money to spend has taken a noticeably bearish stance on Wynn Resorts.

Looking at options history for Wynn Resorts (NASDAQ:WYNN) we detected 10 strange trades.

If we consider the specifics of each trade, it is accurate to state that 40% of the investors opened trades with bullish expectations and 60% with bearish.

From the overall spotted trades, 5 are puts, for a total amount of $451,859 and 5, calls, for a total amount of $255,729.

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 $75.0 to $105.0 for Wynn Resorts 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 Wynn Resorts'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 Wynn Resorts's whale trades within a strike price range from $75.0 to $105.0 in the last 30 days.

Wynn Resorts 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 InterestWYNN PUT TRADE NEUTRAL 01/21/ $105.00 $186.6K 5.3K 295 22WYNN PUT TRADE NEUTRAL 01/21/ $105.00 $119.6K 5.3K 200 22WYNN CALL TRADE BULLISH 03/18/ $92.50 $115.0K 2.3K 203 22WYNN PUT SWEEP BULLISH 01/21/ $105.00 $86.4K 5.3K 394 22WYNN CALL TRADE BULLISH 01/21/ $92.50 $49.0K 3.1K 212 22

Where Is Wynn Resorts Standing Right Now?

* With a volume of 1,071,034, the price of WYNN is up 0.08% at $86.39.

* RSI indicators hint that the underlying stock is currently neutral between overbought and oversold.

* Next earnings are expected to be released in 43 days.

What The Experts Say On Wynn Resorts:

* Goldman Sachs has decided to maintain their Neutral rating on Wynn Resorts, which currently sits at a price target of $91.

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 are already an options trader or would like to get started, head on over to Benzinga Pro. Benzinga Pro gives you up-to-date news and analytics to empower your investing and trading strategy.