WYNN stock is down slightly today and is once again flirting with an increasingly important technical level at $200. We remain long the June/July put calendar spread which we placed (on May 20th/ below) with the …
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The gaming stocks are down today on disappointing saless for the month of May in Macau. About 2 weeks ago (below) we initiated a mildly bearish structure that looked to take advantage of support in …
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Last week I laid out the bearish case for WYNN shares (see below), which was a mixture of macro, valuation, sentiment, relative attractiveness of long premium strategies, poor relative strength and most importantly the fairly …
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At one point in early March WYNN was up almost 30% on the year and up over 100% from the March 2013 lows. The stock’s price action has been a proxy for the prospects of …
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Last week, I entered a near term bearish position in WYNN after the release of disappointing sales in Macau Casinos in the month of January. At the time I suggested: With the stock obviously a …
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Casino stocks had a rough opening on the heals of January sales in Macau that were well short of analysts expectations on a year or year basis, per Bloomberg: Feb. 5 (Bloomberg) — Macau casino …
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Last week in this space (MorningWord 1/10/14: Chinese TakeOut) we highlighted the very poor sentiment (possibly for good reason) related to emerging market economies & markets, specifically China. If there is a theme so far …
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The market opened down, following through on a rough day yesterday, tested the 1500 level in the SPX several times and settled just above at the close. Here are some of the notable trade in …
Continue readingTrade Update Oct 24th, 2012 at 1:15pm: With When I first bought the WYNN Oct / Nov 105 put calendar 3 weeks ago, here is what I said in the Trade Rationale: This structure gives me …
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WYNN is in the betting game. It’s one of the largest casino operators in the world, and heavily levered itself in the last bull market, that the stock had a major debt problem when the …
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