Wynn (WYNN) Offering Possible 20.77% Return Over the Next 3 Calendar Days

Wynn's most recent trend suggests a bullish bias. One trading opportunity on Wynn is a Bull Put Spread using a strike $109.00 short put and a strike $104.00 long put offers a potential 20.77% return on risk over the next 3 calendar days. Maximum profit would be generated if the Bull Put Spread were to expire worthless, which would occur if the stock were above $109.00 by expiration. The full premium credit of $0.86 would be kept by the premium seller. The risk of $4.14 would be incurred if the stock dropped below the $104.00 long put strike price.

The 5-day moving average is moving down which suggests that the short-term momentum for Wynn is bearish and the probability of a decline in share price is higher if the stock starts trending.

The 20-day moving average is moving up which suggests that the medium-term momentum for Wynn is bullish.

The RSI indicator is at 75.87 level which suggests that the stock is neither overbought nor oversold at this time.

To learn how to execute such a strategy while accounting for risk and reward in the context of smart portfolio management, and see how to trade live with a successful professional trader, view more here

LATEST NEWS for Wynn

3 of the Best Breakout Stocks to Buy Now
Fri, 11 Dec 2020 17:38:58 +0000
After abandoning stocks for a single session on Wednesday, buyers returned in force on Thursday. The quick turnaround is simply the latest in a long line of evidence pointing toward the bulls’ dominance. To celebrate their continued reign and the potential for more gains as we move ever closer to year-end, today’s gallery highlights three of the best breakout stocks to buy.
We’re spreading our picks across three different sectors to offer variety and diversification. That way, if one area cools, it won’t upend the entire pitch. In scanning for the ideal patterns, I focused on strong uptrends that were testing resistance zones. One more push, and we should see some nice upside acceleration just in time for Christmas.
Of course, if they don’t take out the ceiling, then all bets are off. This is a quintessential “if-then” type of trade, predicated on buyers pressing their advantage and catapulting prices above a zone that has thus far kept a lid on the trend.InvestorPlace – Stock Market News, Stock Advice & Trading Tips

8 Battery Stocks That Electric Vehicle Companies Rely On

Without further ado, here are the three companies that made the cut.
Pinterest (NYSE:PINS)
MGM Resorts (NYSE:MGM)
Chevron (NYSE:CVX)
One has flourished during the pandemic. The other two breakout stocks are flying high on hopes of more stimulus and an economic rebound. Let’s take a closer look.

Best Breakout Stocks to Buy: Pinterest (PINS)
Source: The thinkorswim® platform from TD Ameritrade

Pinterest’s trend is one for the history books. We’ve seen the share price rise seven-fold since March’s low, from $10 to $70. It’s utterly incredible. The rapid pace of growth is definitely unsustainable, but that doesn’t mean you should bet on an imminent top. Going with the trend is far easier. Remember, just because we can’t continue at the same rate doesn’t mean prices can’t still rise.
Over the past two weeks, a clear high base pattern has formed. Wednesday’s breakout attempt failed due to broader market weakness, but buyers swarmed yesterday to form a bullish engulfing pattern. As soon as we take out Thursday’s high of $71.91, long trades have the green light.
The implied volatility rank of 18% combines with a strong uptrend to create an attractive bull call spread opportunity.
The Trade: Buy the Feb $75/$85 call vertical for around $3.20.

MGM Resorts (MGM)
Source: The thinkorswim® platform from TD Ameritrade

Casinos turned to ghost towns earlier this month, but Wall Street is betting crowds will return. So says the price action in everyone from MGM and Wynn (NASDAQ:WYNN) to Las Vegas Sands (NYSE:LVS) and Boyd Gaming (NYSE:BYD). Of the four, I think MGM has the prettiest pattern. However, WYNN is a close second.
I’m particularly impressed by the relative strength this week. While some stocks got torched on Wednesday, MGM closed near unchanged. Then, on Thursday, it scored a booming engulfing candle and gained 3.31% on the session. Clearing the top of the high base could spark a run toward $35.
The theme of low implied volatility continues with MGM’s rank of 11%. Its low share price makes long calls an interesting trade if you think we squeeze higher into year-end.

7 Retail Stocks Getting Coal This Year

The Trade: Buy the Feb $31 call for around $3.05.

Chevron (CVX)
Source: The thinkorswim® platform from TD Ameritrade

Chevron rounds out our trio of the best breakout stocks to buy as one of the better looking large caps in the sector. Oil prices popped to a fresh seven-month high this week, and it’s carrying energy stocks higher alongside it. Not that they needed any help, mind you. The resurgence in small-caps on the heels of the recent novel coronavirus vaccine already had bulls falling all over themselves to finally rotate back into an area that they’ve hated for months.
CVX stock is building a mini-symmetrical triangle and actually tried to break out on Thursday with high volume to boot. I think it goes to $100 in a hurry. To capitalize, buy bull calls.
The Trade: Buy the Feb $95/$100 bull call for $2.00.
On the date of publication, Tyler Craig did not have (either directly or indirectly) any positions in the securities mentioned in this article.
For a free trial to the best trading community on the planet and Tyler’s current home, click here!
More From InvestorPlace

Why Everyone Is Investing in 5G All WRONG

Top Stock Picker Reveals His Next 1,000% Winner

Radical New Battery Could Dismantle Oil Markets

The post 3 of the Best Breakout Stocks to Buy Now appeared first on InvestorPlace.

Why Wynn, MGM Resorts Are Trading Higher Today
Thu, 10 Dec 2020 20:52:16 +0000
The global pandemic has been devastating to casino stocks in 2020, but optimism surrounding a COVID-19 vaccine has lifted a number of casino stocks on Thursday.Casino shares are trading higher potentially amid the beginning of vaccine rollouts, which could help casinos and other hotel and leisure companies regain demand.MGM Resorts International (NYSE: MGM) is the largest resort operator on the Las Vegas Strip with 35,000 guest rooms and suites, representing about one fourth of all units in the market.MGM Resorts International shares were trading up 3.31% at $30.92. The stock has a 52-week high of $34.64 and a 52-week low of $5.90.Wynn Resorts (NASDAQ: WYNN) operates luxury casinos and resorts. The company operates four megaresorts: Wynn Macau and Encore in Macao and Wynn Las Vegas and Encore in Las Vegas.Wynn Resorts shares were trading up 1.54% at $112.88. The stock has a 52-week high of $153.41 and a 52-week low of $35.84.See more from Benzinga * Click here for options trades from Benzinga * Airbnb Opens On Nasdaq At Nearly Twice Its IPO Price * Why Greenwich LifeSciences, Immutep And Tenet Are Trading Higher Today(C) 2020 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.

Why Is Wynn (WYNN) Up 41.6% Since Last Earnings Report?
Sat, 05 Dec 2020 16:32:04 +0000
Wynn (WYNN) reported earnings 30 days ago. What's next for the stock? We take a look at earnings estimates for some clues.

Macau gambling revenue has tanked 80% in 2020 due to pandemic
Wed, 02 Dec 2020 18:50:30 +0000
The COVID-19 pandemic has hammered gambling revenue in Macau and Las Vegas, while U.S. mobile betting skyrockets.

Why Would Anyone Want to Buy Wynn Resorts Stock?
Wed, 02 Dec 2020 15:12:00 +0000
Shares of Wynn Resorts (NASDAQ: WYNN) are up 40% over the past month and have nearly tripled from the lows hit during the broad market sell-off in March. Investors are betting the casino industry will be soon bouncing back, and because Wynn's operations are heavily weighted toward Macao — the only place in China where it is legal to bet — it could see a recovery sooner rather than later as the tiny peninsula saw a promising recovery in gaming revenue in October. Las Vegas Sands is reportedly considering selling its Las Vegas properties to go all in on Asia, primarily Macao, but for the time being, Wynn Resorts has more exposure to the market as it derives about three quarters of its adjusted earnings before interest, taxation, depreciation, and amortization (EBITDA) from the city.

Related Posts

 

MarketTamer is not an investment advisor and is not registered with the U.S. Securities and Exchange Commission or the Financial Industry Regulatory Authority. Further, owners, employees, agents or representatives of MarketTamer are not acting as investment advisors and might not be registered with the U.S. Securities and Exchange Commission or the Financial Industry Regulatory.


This company makes no representations or warranties concerning the products, practices or procedures of any company or entity mentioned or recommended in this email, and makes no representations or warranties concerning said company or entity’s compliance with applicable laws and regulations, including, but not limited to, regulations promulgated by the SEC or the CFTC. The sender of this email may receive a portion of the proceeds from the sale of any products or services offered by a company or entity mentioned or recommended in this email. The recipient of this email assumes responsibility for conducting its own due diligence on the aforementioned company or entity and assumes full responsibility, and releases the sender from liability, for any purchase or order made from any company or entity mentioned or recommended in this email.


The content on any of MarketTamer websites, products or communication is for educational purposes only. Nothing in its products, services, or communications shall be construed as a solicitation and/or recommendation to buy or sell a security. Trading stocks, options and other securities involves risk. The risk of loss in trading securities can be substantial. The risk involved with trading stocks, options and other securities is not suitable for all investors. Prior to buying or selling an option, an investor must evaluate his/her own personal financial situation and consider all relevant risk factors. See: Characteristics and Risks of Standardized Options. The www.MarketTamer.com educational training program and software services are provided to improve financial understanding.


The information presented in this site is not intended to be used as the sole basis of any investment decisions, nor should it be construed as advice designed to meet the investment needs of any particular investor. Nothing in our research constitutes legal, accounting or tax advice or individually tailored investment advice. Our research is prepared for general circulation and has been prepared without regard to the individual financial circumstances and objectives of persons who receive or obtain access to it. Our research is based on sources that we believe to be reliable. However, we do not make any representation or warranty, expressed or implied, as to the accuracy of our research, the completeness, or correctness or make any guarantee or other promise as to any results that may be obtained from using our research. To the maximum extent permitted by law, neither we, any of our affiliates, nor any other person, shall have any liability whatsoever to any person for any loss or expense, whether direct, indirect, consequential, incidental or otherwise, arising from or relating in any way to any use of or reliance on our research or the information contained therein. Some discussions contain forward looking statements which are based on current expectations and differences can be expected. All of our research, including the estimates, opinions and information contained therein, reflects our judgment as of the publication or other dissemination date of the research and is subject to change without notice. Further, we expressly disclaim any responsibility to update such research. Investing involves substantial risk. Past performance is not a guarantee of future results, and a loss of original capital may occur. No one receiving or accessing our research should make any investment decision without first consulting his or her own personal financial advisor and conducting his or her own research and due diligence, including carefully reviewing any applicable prospectuses, press releases, reports and other public filings of the issuer of any securities being considered. None of the information presented should be construed as an offer to sell or buy any particular security. As always, use your best judgment when investing.