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OptionWatch: 32,500 Downside Puts Trade in Caesars Entertainment, Inc. (Symbol: CZR)

OptionWatch: 32,500 Downside Puts Trade in Caesars Entertainment, Inc. (Symbol: CZR)

OptionWatch:

Posted June 30, 2025 at 11:48 am

Jeff Praissman
Interactive Brokers

This morning 32,500 August 15 ’25 22 puts traded for $0.22. This was an opening trade since the open interest this morning was less than five and at an eight delta the trade was the equivalent of 260,000 shares of stock. The investor most likely bought the puts and may be hedging against a potential downside move in the stock.

Earnings are expected to be released between July 28th and August 1st. There two weekly expiration option expirations that the investor could have traded in, but this may also be an earnings play since it is the standard monthly expiration that will fall during earnings.

CZR has had mixed results in the past earning cycles with misses in five of the past eight returns. CZR is currently trading at $28.49. CZR has a 52-week high of $45.93 and a 52-week low of $21.40.

Source: IBKR TWS. Past performance is not indicative of future results

Originally Posted on June 30, 2025

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One thought on “OptionWatch: 32,500 Downside Puts Trade in Caesars Entertainment, Inc. (Symbol: CZR)”

  • Roger B. Fox

    Yup that’s what all the options pros say “downside” puts or “upside” calls. You’d never catch them saying just puts or calls cause no one would know what they are talking about. But downside or upside makes it very clear. Not.

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