The market is never going to go straight up, although it felt that way from the start of 2012 until late march. Folks are continuing to look for catalysts to get some type of correction.
Tag Archives: WYNN
5-2 Watchlist WYNN GMCR LNKD TRIP VECO OPEN
Looks like the job mornings this morning will cause some selling pressure today. Will make some calls less expensive mid-morning. Also, the big Friday jobs report for April will be on folks minds today and tomorrow.
4-18-2012 Watchlist
4-18-2012 watchlist
A great RAMP day yesterday. Just like what I wrote about Monday, we needed a few day CLEANSING of the bulls. Needed to shake people out, and get the shorts happy in the hopes of their 10%+ correction, then pull the carpet out.
Win! WIN! WYNN!!!!!!!!!
We wrote about WYNN last night, and a possible move to $130 short term. What we wrote:
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.
We were right with CME, ICE, FOSL, FSLR, PCLN, CSTR... the list goes on and on. And WYNN was no exception. The stock broke out in the morning and ran to $131.50, resulting in massive returns for anyone grabbing $130 calls. Not only that, we got the Hollywood drama we spoke about last night, as the stock was halted as WYNN was busy retracting an 8-k that hit the wires.
Volatility like this is an option traders wet dream. We were able to reload on some WYNN $130 calls when the stock reopened at $125. The stock rocketed to $132 and we were once again able to cash in on some massive returns. All these calls were alerted in our chatroom and watchlist.
Lets see what next week brings, but what a great way to end the week!!
For the WYNN.
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.