{"id":270,"date":"2009-10-13T12:06:34","date_gmt":"2009-10-13T16:06:34","guid":{"rendered":"http:\/\/drduru.com\/onetwentytwo\/?p=270"},"modified":"2009-10-13T12:06:34","modified_gmt":"2009-10-13T16:06:34","slug":"calm-returns-to-wynn-shares","status":"publish","type":"post","link":"https:\/\/drduru.com\/onetwentytwo\/2009\/10\/13\/calm-returns-to-wynn-shares\/","title":{"rendered":"Calm Returns to WYNN Shares"},"content":{"rendered":"

It appears that this month’s WYNN strangle options play will fail<\/a>. Relative calm has returned to WYNN (Wynn Resorts Ltd.) shares as the stock has remained flat since I launch the trade. There have been moments of action. WYNN dropped over 10% from recent highs to begin the month, but I chose not to close out the put side of the strangle. The selling stopped on a dime until yesterday’s news that Macau is considering new gambling restrictions. Once again, options action picked up on WYNN, including a swell of buying of the October 60 puts<\/a> which expire this Friday. Nothing exposes fear better than quick-trigger, out-of-the-money put buying, especially when those options expire in a few days.<\/p>\n

However, calm has returned to the trading in WYNN today as Bloomberg reports that WYNN Macau has vocalized its support for new gambling restrictions<\/a>: “The idea of limiting somehow the number of gaming tables in the Macau gaming area, that\u2019s a very good idea…It makes the industry safer. The primary objective of the government is of course to raise money, but on the other hand they have a very strong interest in how it affects the community.”<\/p>\n

The overall reception for the Wynn Macau IPO has been lukewarm as shares trading in Hong Kong have gone nowhere since the dazzling debut. I may not initiate another WYNN options strangle play until some kind of fresh catalyst emerges over the horizon.<\/p>\n

Be careful out there!<\/p>\n

Full disclosure: long WYNN calls and puts<\/p>\n","protected":false},"excerpt":{"rendered":"

It appears that this month’s WYNN strangle options play will fail. Relative calm has returned to WYNN (Wynn Resorts Ltd.) shares as the stock has remained flat since I launch the trade. There have been moments of action. WYNN dropped over 10% from recent highs to begin the month, but I chose not to close … Read more<\/a><\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"footnotes":""},"categories":[32],"tags":[33,213,111,68,109,108],"class_list":["post-270","post","type-post","status-publish","format-standard","hentry","category-options","tag-calls","tag-gambling","tag-macau","tag-puts","tag-wynn","tag-wynn-resorts-ltd"],"yoast_head":"\nCalm Returns to WYNN Shares - ONE-TWENTY TWO: Trading Financial Markets<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/drduru.com\/onetwentytwo\/2009\/10\/13\/calm-returns-to-wynn-shares\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Calm Returns to WYNN Shares - ONE-TWENTY TWO: Trading Financial Markets\" \/>\n<meta property=\"og:description\" content=\"It appears that this month’s WYNN strangle options play will fail. 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