Casino Stock's Recent Rally May Have More Fuel

The security is pacing for its third-straight daily win

Digital Content Manager
Jul 25, 2023 at 3:17 PM
facebook X logo linkedin

Casino name Caesars Entertainment Inc (NASDAQ:CZR) is up 1.3% to trade $58.51 at last check, and pacing for its third-straight daily win. The stock scored a one-year high of $58.56 earlier today, and sports a 40.6% year-to-date lead. What's more, it looks like CZR's rally is not even close to being done, thanks to a signal with historically bullish implications. 

CZR Intraday

Per Schaeffer's Quantitative Analyst Rocky White, Caesars Entertainment stock's recent highs come amid historically low implied volatility (IV), which has been a bullish combination in the past. White's data shows five other signals in the last five years when CZR was trading within 2% of its 52-week high, while its Schaeffer's Volatility Index (SVI) sat in the 20th percentile of its annual range or lower.

This is currently the case with the stock's SVI of 47%, which stands at the low 15th percentile of its annual range. One month after these signals, the shares were higher 80% of the time to average a 3% pop. From its current perch, a move of comparable magnitude would put the security above $60 for the first time since May 2022.

Over at the International Securities Exchange (ISE), Chicago Board Options Exchange (CBOE), and NASDAQ OMX PHLX (PHLX), the stock's 50-day call/put volume ratio of 3.20 stands higher than 78% of readings from the last 12 months. This indicates calls have been getting picked up at a quicker-than-usual clip during the past two months.


Target Effortless Triple-Digit Gains Every Sunday Evening For Life!

This is your chance to triple your profit potential on Sunday evenings, without spending all your free time watching the market.

On Sundays, as a Weekend Plus subscriber, you’ll get up to 6 trades every Sunday, each targeting gains of 200% or more.

Start targeting gains like the ones our subscribers have seen recently, including:

213.3% GAIN on AutoNation calls
100.0% GAIN on Monster Beverage calls
100.4% GAIN on Walgreens Boots Alliance puts
100.4% GAIN on ON Semiconductor calls
257.7% GAIN on Dell calls

101.0% GAIN on Apollo Global Management calls
103.6% GAIN on JP Morgan  Chase calls
105.3% GAIN on DraftKings calls
101.3% GAIN on Airbnb calls
203.0% GAIN on Shopify calls
102.0% GAIN on Cboe Global Markets calls
100.9% GAIN on Boeing calls
102.1% GAIN on Microsoft puts
102.3% GAIN on First Solar calls
101.5% GAIN on PulteGroup calls
101.0% GAIN on Apple calls
209.4% GAIN on NXP Semiconductors calls
100.8% GAIN on Uber Technologies calls
100.4% GAIN on Academy Sports and Outdoors puts
102.2% GAIN on Trade Desk calls
100.8% GAIN on DoorDash calls
100.0% GAIN on Camping World Holdings puts
100.0% GAIN on Cboe Global Markets calls
100.2% GAIN on calls
238.5% GAIN on Oracle calls



Rainmaker Ads CGI