This Is What Whales Are Betting On PENN Entertainment
Portfolio Pulse from Benzinga Insights
Whales have shown a bearish stance on PENN Entertainment (NASDAQ:PENN), with unusual options activity indicating a split sentiment among big-money traders: 27% bullish and 63% bearish. The activity includes 11 uncommon trades, with puts totaling $129,200 and calls at $637,858. The options suggest a price window of $10.0 to $37.5 for PENN. The largest trades include both bullish and bearish calls and a bearish put, with significant open interest and volume in these options. PENN's current market position shows a trading volume of 2,502,884, a price decrease of -1.22% to $16.98, and an upcoming earnings announcement in 6 days.
April 26, 2024 | 5:31 pm
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PENN Entertainment sees significant whale activity with a bearish lean. Options trading suggests a price target range of $10.0 to $37.5. The stock is currently down -1.22% at $16.98, with an earnings announcement expected soon.
The bearish sentiment among whales, indicated by the higher volume of bearish trades and the current price downtrend, suggests a potential short-term negative impact on PENN's stock price. The upcoming earnings announcement adds to the uncertainty and potential volatility.
CONFIDENCE 80
IMPORTANCE 90
RELEVANCE 100