WYNN just had earnings about two weeks ago. Ordinarily, the volatility quickly contracts, but it hasn't in WYNN. With an IVR of 75 and an IV of 62, I can't pass up this play.
You can naturally go with an iron condor with the same short strike prices, but I'm going with a short strangle here since I have the buying power to do it:
Dec 18th 55/85 short strangle
POP%: 73%
Max Profit: $246
Max Loss/Buying Power Effect: Undefined
BE's: 52.54/87.46
You can naturally go with an iron condor with the same short strike prices, but I'm going with a short strangle here since I have the buying power to do it:
Dec 18th 55/85 short strangle
POP%: 73%
Max Profit: $246
Max Loss/Buying Power Effect: Undefined
BE's: 52.54/87.46