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WYNN RESORTS LTD [WYNN]

Reporting date: 02/11/2026

⚠️ Bearish Insider Sale Detected

📝 What Happened

  • Insider: FERTITTA TILMAN J
  • Role: 10% Owner
  • Company: WYNN RESORTS LTD (WYNN)
  • Transaction Date(s): 2026-02-11
  • Table I (Non-Derivative Securities)
    • Sale : 600,000
    • Average Sale Price: $6.39
    • Total Value: $3,834,040 (computed VWAP * shares)
    • Post-Transaction Direct Holdings: 0
    • Indirect Holdings: 600,000 (options / underlying common shares)
    • 10b5-1 Plan Used? No

📄 Summary

FERTITTA TILMAN J, 10% Owner at WYNN RESORTS LTD (WYNN), sold 600,000 option positions (representing 600,000 underlying common shares) on February 11, 2026, at an average price of $6.39, realizing proceeds of about ~$3,834,040. After the transaction, he now holds/retains indirect ownership of 600,000 (post-transaction indirect holdings shown). For retail traders, this is a neutral-to-slightly bearish event: sizeable insider option dispositions, likely opportunistic or hedging rather than an outright company-value signal.

🔑 Interpretation

This filing shows multiple derivative (call option) dispositions coded "S" with disposed code "D" on the same date — indicating the insider caused sales of option positions (or obligations to sell) rather than open-market purchases. The pattern suggests discretionary/strategic transactions (possible hedging or monetization) rather than routine compensation grants.

🔑 Interpretation

  • Type: Discretionary (derivative dispositions / monetization of option positions)
  • Disposition: Shares/options were sold/disposed immediately (transaction code S / disposed code D)
  • Size Context: 600,000 underlying-share-equivalents is a meaningful block but, for a 10% owner of the company (and given the footnoted entity holdings), it likely represents monetization of positions rather than a full exit — consistent with profit-taking or hedging.
  • ATH Metric: The option strikes in this filing range from $125–$140, implying the underlying share traded near or above those levels around the trade date; this transaction therefore did not occur at a historic low and appears timed to extract value (opportunistic relative to recent trading, not a bottom-fishing move). Exact all-time high/low comparisons require a market-price lookup; using the option strike context, this looks opportunistic versus lows.
  • Outlier Check: Moderate-to-large for a single filing but not unprecedented for a significant shareholder; not obviously an extreme outlier for a 10% owner performing option monetization.

📊 Bullish or Bearish?

Bearish

Bearish. Net dispositions of 600,000 option positions (transaction codes "S"/disposed "D") by a 10% owner signal material monetization; however, because these are derivative/option transactions and likely part of planned monetization or hedging, the signal is muted and not definitive without corroborating insider sales. Data in this filing is complete for the listed transactions but does not prove coordinated cluster selling.

✅ Bottom Line (Retail Takeaway)

This transaction looks like routine profit-taking or option monetization rather than a definitive bearish signal. For retail traders, it’s noise, not a tradeable event — not worth short-/mid-term action unless corroborated by large sales from WYNN’s CEO, CFO, or multiple insiders.