Add WYNN Calls
Play a Pre-Earnings Run
PLAY: Buy the WYNN March 65 Calls (O:WYNN 10C65.00) at or under $2.45, good for the day. Place a protective stop limit at $1.75 and a pre-determined sniper sell at $4.50.
Dear Bottarelli Research Member,
As one final trade of the day, I’d like to get positioned in calls on Wynn Resorts (WYNN – NASDAQ), who is scheduled to report earnings of $0.13 this Wednesday (time not yet supplied).
Last week, Las Vegas Sands (LVS – NYSE) reported earnings that were in line with expectations, and the stock dipped. In Las Vegas, Sands’ revenues were down while Macau’s revenues were up 21%. Looking at WYNN, I think they’re going to do better than LVS. Not only do they have more business savvy in the U.S., but their Macau operation attracts more high-rollers. Plus, from a chart perspective, we could see the stock run up prior to earnings. If so, adding calls now and selling into the pre-announcement run-up could offer a quick and easy winner. Therefore, let’s get positioned now!
PLAY: Buy the WYNN March 65 Calls (O:WYNN 10C65.00) at or under $2.45, good for the day. Place a protective stop limit at $1.75 and a pre-determined sniper sell at $4.50.
And as always…
Lock and load!
Sincerely,
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