Sometimes trading options can be compared to gambling at a casino. Black and red on the roulette table, might as well be Calls and Puts. So what better way to make money trading, then placing bets on the actually casinos? Two of the stocks trading that we like to play are Las Vegas Sands(LVS) and Wynn Resorts(WYNN). Wynn Resorts seems like the stock with best chance to make option players money. Why? Well because it's been beaten down, has had Hollywood drama, and is now starting to get people on the bandwagon.
It seems like last weekends ouster of Kazuo Okada from Wynn's board of directors was the first catalyst for the stocks impending move higher. It failed to hold the $120 level, and dipped to $116, before firing back and closing at $122.06, the highest close since mid-november. If you have followed WYNN, you know how volatile the stock can be. And option traders drool over volatile stocks, especially one you grab a position in before the volatility.
We like WYNN here and think $130 is in the cards in short order. We are putting our chips on the March and April Calls. Check out our watch list and chatroom for the strikes.