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Short Wynn Resorts Ltd (WYNN)

I had a short discussion with one of my readers via emails whether I would be willing to be issuing a newsletter in which I would be presenting my trades. I am not planning to do that at this point. Maybe later. However, I will try to present some of the trades I am considering to open. Since I am busy during my days I am not sure in what extend I will be able to do it. I will try to show as many trades I am considering as possible.

This time I am looking at Wynn Resorts Ltd (WYNN). The stock had nice upward run during last several months, however recently (at the end of September 2011) it broke thru its long trend line and fell down to 110-ish level.

Wynn Resorts Ltd (WYNN)
(Click to enlarge)

The stock rebounded and continued back up to its 200 day SMA and its long term trend line. It didn’t have enough strength to continue higher and the cycle repeated. Now we are at the situation when this stock may go back down to re-test 110-ish level.

If I am correct and the stock heads down tomorrow I will buy 1 contract of 130 December Put. To do so I will place a contingency order:

If the last of WYNN is less than or equal to 130.67
Buy to open 1 WYNN Dec 17 2011 130.0 Put at market

If filled I’ll place a stop loss order @ 142.59 where I will sell the put. The stock is high beta stock and currently it moves 5% per day.

Happy Trading!

3 responses to “Short Wynn Resorts Ltd (WYNN)”

  1. Rick Carpenter says:

    Thank you for any other fantastic article posting your trades. It’s nice to see your trades that you made money trading WYNN. I may consider following your trades too. Can you be posting more and on faster manner? The place else may just anybody get that type of information in such a perfect means of writing? I have a presentation next week, and I am on the search for such info.

  2. Carol says:

    Awesome blog, it’s just like a game for me! It’s so infomative and usefull, thanks a lot! If you post more about your options trades and trade details, I’ll visit your blog again!

  3. Van Moore says:

    hello i found your website today and I have read some good posts about options trading over here.

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