Decoding Wynn Resorts's Options Activity: What's the Big Picture? - Wynn Resorts (NASDAQ:WYNN)

Core Insights - Deep-pocketed investors have adopted a bearish stance towards Wynn Resorts, indicating potential significant market movements ahead [1] - The options activity for Wynn Resorts has shown unusual patterns, with a majority of investors leaning bearish [2] Options Activity Summary - A total of 30 extraordinary options activities were tracked, with 80% of investors bearish and only 13% bullish [2] - Notable options include 6 puts totaling $189,764 and 24 calls amounting to $6,308,747 [2] - The average open interest for Wynn Resorts options is 1,692.1, with total volume reaching 40,791 [4] Price Predictions - The predicted price range for Wynn Resorts is between $125.0 and $165.0 based on recent options activity [3] Company Overview - Wynn Resorts operates luxury casinos and resorts, including properties in Macao and Las Vegas, and is expanding its non-gaming attractions [9] - The company generated 76% of its 2019 pre-pandemic EBITDA from Macao and 24% from the US, with expectations for a more balanced contribution in 2024 [9] Analyst Ratings - Recent expert opinions show an average target price of $144.2 for Wynn Resorts, with varying ratings from different analysts [10][11] - Barclays maintains an Overweight rating with a target price of $141, while Citigroup upgraded to Buy with a target of $160 [11]