Tag Archives: WYNN

Today’s Unusual Recap – Thursday 6-4-15

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Today was the first trading session of the week where the market didn't obey the rules.   Instead of closing smack in the middle of the daily range, the $SPY closed sharply lower.  But in 2015 fashion the market was able to spike higher into the close to finish OTL -off the lows.

There were quite a few option trades that had my attention today.  I shared most of them in the News portion of the chat room.  I'll go over them as well as others that have piqued my interest below.  During market hours I post them right as they occur outside of the main chatroom to keep it clean and it also helps keep a nice record of the data.  Some of the bigger, more important trades I post in both chatrooms.

The VIX

As the VIX rockets out of "The Wedge"  trader(s) position for increased volatility.  How bout them VIX June and July 20's?

For the WYNN

How bout them $WYNN calls?  Quite a few in the chat room had them from pennies to dollars.  The $107 strike was $.05 offer all week and soared to $2.74 today.

Let's get into today's option action....  Some individual names.  Bullish action first

Bullish

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Thursday Recap

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There was no currency flash crash,  no FED meeting,  making for a rather dull day, aside from some impressive stock moves in names such as $TWTR, $WYNN, $TSLA.   I could post a dozen assorted charts tonight,  but in the interest of time  I'll just keep it simple.  Keeping it simple usually is just the easier thing to do - That is a Captain Obvious Quote, if it wasn't already obvious.

$WYNN rocketed 6% higher today.  What a difference one day can make.  Yesterday I talked about how terrible sentiment was for the stock, and today investors couldn't buy it quick enough.  More on that in a few.  What about the market?  Where is it headed?

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Two Stocks On the Move

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After doing my normal research over the weekend, and preparing for the Week Ahead Webinar, I came up with my normal "Stocks I Really Like" list. This list changes week to week, but does have some of the usual  suspects.

I already held a position in all four of the stocks, but was looking to possibly add to my position at the open. Only 1 of the four performed well today, and that was mainly due to a positive write-up in Barron's over the weekend.

For those that do not know, those four stocks were; Western Union (WU), Baidu (BIDU), OpenTable (OPEN), and Sears Holdings (SHLD). I did add to my position in Baidu(BIDU) with some more $100 weekly calls @ .16. So why you ask, is the title of this post "Two Stocks on the Move" when I am discussing ones that did not? Well that is because this market can give you opportunities at anytime, and I had to adjust my strategy for the day.

One of the stocks that moved out of the gate this morning was Netflix(NFLX). I spoke a few times over the past week about the channel i was watching from 209-224. Netflix(NFLX) broke under the $209 channel last week, and figured we would not see the stock above $210 for sometime. But news about more Disney content coming to Netflix(NFLX) helped spark shares higher, as well as Ichan saying he has not sold a share. Today's action was very telling, and once it broke $224 I started looking for a position in the calls thinking today is the start of a new uptrend. I did get some of the $255 calls @ .36, and think the stock heads over $240 sometime this week. Below is the chart I made for the Week Ahead Webinar the Sunday before Netflix(NFLX) earnings, when the stock was under $170. The chart shows there is plenty of room to the upside, even with the recent move.

NFLX 5-13 - small

 

The next stock is another favorite we have played before... Wynn Resorts (WYNN). The stock closed today at multi-year highs, and looks like its ready to breakout in a major way. We grabbed the $145 weekly calls @ .19 and may look to get some more positions this week. The chart below shows the channel and the breakout that could happen.

WYNN 5-13 - small

 

We will update on the watchlist this morning on these trades, as well as some others.

Happy Trading!

- JB

1-10-2013 Watchlist

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We are quietly heading towards those 5 year highs once again as the market finished in the green yesterday. Futures are up again and have been ramping all morning.

 

China continues to show signs of growth and thats helping fuel US rally:

China : http://www.washingtonpost.com/business/chinas-trade-growth-soars-in-positive-sign-for-economic-rebound-exports-jump-14-percent/2013/01/09/33ca2070-5ad8-11e2-b8b2-0d18a64c8dfa_story.html?hpid=z3

 

ECB also kept rates unchanged this morning so no surprises. Another upgrade for AMZN today as well as  2 for WYNN. LNKD was also started at outperform by CSLA and is up pre-market.

 

Tim Cook is meeting with China Mobile and that is giving a bid into AAPL up over 2% to 530.

 

MCP is down 13% after announcing FY 13 revenue will come in lower then expected.

Looks like BPT ex-divy date is tomorrow so 80 calls will have one more day of possible fun!

 

Here are some of the analyst changes:

(AMZN)

Amazon.com called favorite name in large cap e-commerce at Deutsche Bank

Deutsche Bank calls Amazon.com its favored name in large cap e-commerce, saying the company is one of a few that can increase revenue by ten times over the next several years. Deutsche views the biggest catalysts for Amazon shares as margin expansion, which it feels could materialize as early as Q1. The firm has a Buy rating on the stock with a $305 price target

(WYNN)

Follow-up: Wynn Resorts upgraded to Buy from Neutral at Lazard Capital

Lazard Capital upgraded Wynn Resorts with a $145 price target citing higher assumed Macau market growth. The firm believes Wynn is well positioned to benefit from a VIP rebound.

 

Deutsche Bank maintains Wynn Resorts, Limited (NASDAQ: WYNN) with a Buy and raises the price target from $135.00 to $144.00.

Missed entry on the RL 170 calls on the watchlist yesterday @ .55 they hit 1.10. WIll pass for now.

 

Will look to add to SAM position today as well as possibly adding more WYNN $125 weekly:

 

Stock Ticker Call/Put Strike Expiration Closing Price Entry Price
SAM CALL $150.00 FEB 0.60 0.45
WYNN CALL $125.00 Weekly 0.14 0.25

 

 

With market up at the open, will be wary of a possible fade so will hang tight.

 

 

Dont forget Leemalone’s class today at 4:30 :  https://www.optionmillionaires.com/live-event-classes-jtv/

 

 

 

Lets have a great day!

 

- Jimmybob