A Few Trades
The stock market continues to set up for a sharp ending to 2016.
I remain open for either conclusion, but will not trade for it. Instead I'm entering small directional trades on stocks that I think will move regardless of what the overall market does.
$WYNN $103 weekly calls for $.79.
I am trading for $WYNN to touch the upside of it's current channel at $110 and continue to trade for that type of move.
I entered some $GPRO calls a few weeks ago and watched them promptly drop 70% in value and then end the week up over 700%.
GPRO is currently around the $15 level and down over 4% today. The $16 calls at $.08-$.10 are what I am trading for a high risk/reward on a move higher this week.
With a $.10 option I keep my cost low, but also have the opportunity for a significant percentage gain on a sharp move to the upside.