Deep-pocketed investors have adopted a bearish approach towards Caesars Entertainment CZR, and it’s something market players shouldn’t ignore. Our tracking of public options records at Benzinga unveiled this significant move today. The identity of these investors remains unknown, but such a substantial move in CZR usually suggests something big is about to happen.
We gleaned this information from our observations today when Benzinga’s options scanner highlighted 34 extraordinary options activities for Caesars Entertainment. This level of activity is out of the ordinary.
The general mood among these heavyweight investors is divided, with 29% leaning bullish and 64% bearish. Among these notable options, 8 are puts, totaling $393,843, and 26 are calls, amounting to $1,679,805.
Projected Price Targets
Based on the trading activity, it appears that the significant investors are aiming for a price territory stretching from $35.0 to $60.0 for Caesars Entertainment over the recent three months.
Volume & Open Interest Trends
In today’s trading context, the average open interest for options of Caesars Entertainment stands at 3193.06, with a total volume reaching 37,191.00. The accompanying chart delineates the progression of both call and put option volume and open interest for high-value trades in Caesars Entertainment, situated within the strike price corridor from $35.0 to $60.0, throughout the last 30 days.
Caesars Entertainment Option Volume And Open Interest Over Last 30 Days
Noteworthy Options Activity:
| Symbol | PUT/CALL | Trade Type | Sentiment | Exp. Date | Ask | Bid | Price | Strike Price | Total Trade Price | Open Interest | Volume |
|---|---|---|---|---|---|---|---|---|---|---|---|
| CZR | CALL | TRADE | BEARISH | 12/20/24 | $1.34 | $1.29 | $1.29 | $45.00 | $430.9K | 18.8K | 3.3K |
| CZR | CALL | SWEEP | BEARISH | 01/16/26 | $5.5 | $5.45 | $5.5 | $50.00 | $180.4K | 16.3K | 2.5K |
| CZR | CALL | SWEEP | BEARISH | 01/16/26 | $7.4 | $6.5 | $6.5 | $50.00 | $115.7K | 16.3K | 22 |
| CZR | PUT | SWEEP | BULLISH | 11/15/24 | $1.3 | $1.23 | $1.3 | $41.50 | $99.8K | 1.1K | 769 |
| CZR | PUT | SWEEP | BEARISH | 01/17/25 | $2.75 | $2.36 | $2.75 | $42.00 | $82.5K | 82 | 400 |
About Caesars Entertainment
Caesars Entertainment includes about 50 domestic gaming properties across Las Vegas (49% of 2023 EBITDAR before corporate expenses) and regional (48%) markets. Additionally, the company hosts managed properties and digital assets, the later of which produced marginal EBITDA in 2023. Caesars’ US presence roughly doubled with the 2020 acquisition by Eldorado, which built its first casino in Reno, Nevada, in 1973 and expanded its presence through prior acquisitions to over 20 properties before merging with legacy Caesars. Caesars’ brands include Caesars, Harrah’s, Tropicana, Bally’s, Isle, and Flamingo. Also, the company owns the US portion of William Hill (it sold the international operation in 2022), a digital sports betting platform.
Present Market Standing of Caesars Entertainment
- Trading volume stands at 6,699,188, with CZR’s price down by -8.75%, positioned at $41.32.
- RSI indicators show the stock to be is currently neutral between overbought and oversold.
- Earnings announcement expected in 111 days.
Professional Analyst Ratings for Caesars Entertainment
In the last month, 5 experts released ratings on this stock with an average target price of $55.0.
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* An analyst from Barclays has decided to maintain their Overweight rating on Caesars Entertainment, which currently sits at a price target of $59.
* Maintaining their stance, an analyst from Wells Fargo continues to hold a Overweight rating for Caesars Entertainment, targeting a price of $58.
* Reflecting concerns, an analyst from JMP Securities lowers its rating to Market Outperform with a new price target of $59.
* Consistent in their evaluation, an analyst from Barclays keeps a Overweight rating on Caesars Entertainment with a target price of $57.
* Maintaining their stance, an analyst from Morgan Stanley continues to hold a Equal-Weight rating for Caesars Entertainment, targeting a price of $42.
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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