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Caesers Entertainment: Vol Pops As Stock Continues 130% Rise

ByOphir Gottlieb
Published 03/14/2013, 02:31 AM
Updated 07/09/2023, 06:31 AM
CASP
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MAR
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OPIN
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NOTE
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CZR
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Caesars Entertainment Corporation (CZR) provides casino entertainment services.

This is a quick note on some exploding vol in CZR. I found this stock using a custom scan searching for names where IV30™ is up at least 10% on the day. The scan details are below with a snapshot if you want to build it yourself in Livevol® Pro.

Custom Scan Details
Stock Price GTE 10
Average Option Volume GTE 1,200
Days After Earnings GTE 5 and LTE 60
IV30™ Percent Change GTE 10%
IV30™ GTE 10

The goal here is find stocks more than $10, with a greater than 10% rise in IV30™ (short-term implied) that is not due to an earnings date, with enough option liquidity to trade.

The CZR one-year Charts Tab is included (below). The top portion is the stock price, the bottom is the vol (IV30™ - red vs HV20 - blue vs HV180 - pink).
CZR_CHARTS
On the stock side we can see the awesome price appreciation of late. On 12-28-2012 this was a $6.73 stock. As of today it is up more than 125% from that level. We can see a gap up pre-earnings, then another abrupt trend up after the earnings announcement. Then, there's today -- the stock is up another 8.2% and the vol is following, up 13.2%. Still, the IV30™ is just in the 34th percentile (annual), and given all that has happened of late, that is noteworthy, IMHO.

Finally, let's turn to the Options Tab.
CZR_OPTIONS
Across the top we can see not only that Apr vol is up, but even the two and a half day options in Mar are up, and quite substantially. This is a compelling one to examine, even for analysis in Mar positions.

Disclosure: This is trade analysis, not a recommendation.

Images provided by Livevol®

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