MGM Resorts International (NYSE:MGM) options activity are a great option
MGM Resorts International (NYSE:MGM)’s International options set an entirely new 90-day record for a number of call-contracts that had been traded. The average volume of puts stood at 4,715 while the calls stood at 24,376. This amounted to a 0.19 put: call ratio. Activities such as these provide good clues about when any stock is going to make a move. Investors can utilize this information to decide what the investor sentiment is.
A higher put/call ratio indicates that on the whole there is a bearish sentiment towards the stock and that investors are expecting a dip in value of that stock. Contrastingly, a lower put/call ratio indicates that there is a bullish investor sentiment towards that stock. This is based on the huge number of call options.
In Friday’s trading session, MGM stock rose by 1.01%. The opening price of $17.87 rose to an intraday high of $18.01 and closed at $18.00. More than 7.41 million shares were traded in Friday’s trading session while the average volume of shares traded over a 30-day period was 8.24 million. The company has a market cap of 48.81 billion.
What the company does
MGM is the largest hotel and gaming corporation in the gaming market in the Las Vegas Strip. It has over 40,000 suits and guest rooms in this region. This represents around 30% of the total guest rooms in the current market. MGM’s Vegas properties are MGM Grand, Mirage, Luxor, Bellagio and New York-New York. The company also has a 50% stake in CityCenter. The Strip revenue accounts for almost 80% of the company’s total revenue. In smaller markets, MGM operates the 50 percent-owned MGM Macau as well as some other casinos.
MGM Resorts International (NYSE:MGM) is a holding-company that operates in the hospitality industry. Its main business is ownership of and operating casino resorts. These resorts offer hotel, gaming, dining, convention, entertainment, retail as well as numerous other amenities and facilities.