MGM MGM Resorts International

🔔Mid Day Trading Update🔔 📅Monday 5/12/2022📅 🟢Bullish Activity🟢 $MGM Moving higher this morning after Truist Securities upgraded the casino and hotel operator to Buy from Hold and raised their price target on the stock to $50.00 from $40.00. The brokerage said that the company is well positioned heading into 2023, driven by a solid events calendar and the return of mid-week travel which should help counter macro headwinds. The December 9th 38.50 call being the highest volume contract. New 52-week highs: ( $NVO + $0.43 to $127.33), ( $PDD + $0.93 to $87.27), ( $YUMC + $0.41 to $55.90) 🟢Notable Calls🟢 $HBI Some unusual activity seen which is primarily being driven by activity on the April 21st 7.00 call. Volume on this contract is 18828 with open interest at 1361, so the activity primarily represents fresh positioning. The transactions on this contract consisted of blocks that were being bought for between $0.57-$0.60, which suggests bullish momentum. 🔴Bearish Activity🔴