Wynn (WYNN) Offering Possible 8.46% Return Over the Next 6 Calendar Days

Wynn's most recent trend suggests a bullish bias. One trading opportunity on Wynn is a Bull Put Spread using a strike $83.00 short put and a strike $78.00 long put offers a potential 8.46% return on risk over the next 6 calendar days. Maximum profit would be generated if the Bull Put Spread were to expire worthless, which would occur if the stock were above $83.00 by expiration. The full premium credit of $0.39 would be kept by the premium seller. The risk of $4.61 would be incurred if the stock dropped below the $78.00 long put strike price.

The 5-day moving average is moving up which suggests that the short-term momentum for Wynn is bullish and the probability of a rise 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 58.56 level which suggests that the stock is neither overbought nor oversold at this time.

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LATEST NEWS for Wynn

Biden’s Coronavirus Advisor Wants to Shut Down the Economy. Here’s What That Might Mean for the Stock Market.
Thu, 12 Nov 2020 22:58:00 +0000
The market is reacting Thursday, with the S&P 500 down 1.3% in recent trading. Reopening-sensitive stock Wynn Resorts was down 5.5%.

Reopen Trade Stumbles as Lockdown Winners Bounce on Virus Spike
Thu, 12 Nov 2020 16:41:12 +0000
(Bloomberg) — Investors flocked back to stocks that have surged amid the coronavirus pandemic as fears of a new round of tougher restrictions to contain the disease sent ripples across the market.Money managers were quick to snap up shares of Zoom Video Communications Inc. and Peloton Interactive Inc., after record declines on Monday due to promising results for Pfizer Inc. and BioNTech SE’s Covid-19 vaccine. Zoom and Peloton jumped more than 5% each today despite a choppy session for the broader market.The share price rally for lockdown winners today came at the expense of stocks that investors had turned more optimistic earlier this week amid progress on a Covid vaccine — casino operators, cruise lines, hotel and restaurant operators.A basket of large-cap hotels, resorts and cruise lines fell as much as 3.6% — led by a drop in Carnival Corp. Wynn Resorts Ltd., which were among the S&P 500’s worst performers, slipped as much as 5.6% while peers including MGM Resorts International underperformed the broader market.Airlines, which were among the week’s best performers, were dealt a blow when Southwest Airlines Co. warned that a revenue recovery was slowing. The Bloomberg World Airlines Index peeled back 1.7% with all but a handful of its 27 members trading lower.For more articles like this, please visit us at bloomberg.comSubscribe now to stay ahead with the most trusted business news source.©2020 Bloomberg L.P.

Earnings Update: Wynn Resorts, Limited (NASDAQ:WYNN) Just Reported Its Third-Quarter Results And Analysts Are Updating Their Forecasts
Wed, 11 Nov 2020 14:20:24 +0000
Wynn Resorts, Limited (NASDAQ:WYNN) missed earnings with its latest quarterly results, disappointing overly-optimistic…

Why Investors Are Rolling the Dice With Casinos Today
Mon, 09 Nov 2020 18:26:00 +0000
Shares in casino stocks are soaring today, after news from drug companies Pfizer and BioNTech this morning that a COVID-19 vaccine candidate is showing 90% effectiveness. Shares of Wynn Resorts (NASDAQ: WYNN) are up 25% as of 10:55 a.m. EST, while MGM Resorts (NYSE: MGM) and Caesars Entertainment (NASDAQ: CZR) shares are up 14% and 11%, respectively. The outsize jump in Wynn likely corresponds to the fact that its shares remain down the most of the group since the start of 2020.

Wynn Resorts Misses Even Analysts' Subdued Expectations for Q3
Fri, 06 Nov 2020 16:17:00 +0000
Though its press release remained upbeat while reporting the company's third-quarter 2020 results yesterday after market close, casino and resort operator Wynn Resorts (NASDAQ: WYNN) fell strongly short of Wall Street analyst expectations.

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