Market Radar Analysis: Bearish Flow in Wynn Resorts
A bearish flow has been noted in Wynn Resorts (WYNN), with 1,671 puts trading and a Put/Call Ratio of 1.93. Most active are the 1/10 weekly 84 puts and Feb-25 75 puts, with total volume in those strikes near 970 contracts. This indicates that investors are becoming increasingly bearish on WYNN, anticipating potential declines in its stock price.
Earnings Imminent
WYNN is set to release its earnings report on February 5th, which may further impact investor sentiment. The company’s recent performance has been a subject of concern for many investors, and the put volume indicates that they are preparing for potentially bad news.
Macau Casino Revenue Declines
A recent article by TheFly highlighted the decline in Macau casino revenue, which could have a negative impact on WYNN’s earnings. The company has significant exposure to the Macau market, making this development particularly concerning.
Price Target Raised
Despite the bearish sentiment, Deutsche Bank recently raised its price target for WYNN from $118 to $128. This suggests that some investors remain optimistic about the company’s prospects.
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