LONG WYNNI'm long Wynn Here... breaking a down trend as well as in a tightly held wedge with positive momo and volume.
I'm targeting 125 here over the next year or two.
Huge Divergence on MACD
Ryanhasoptions
WYR trade ideas
WYNN -- NONEARNINGS PREMIUM SELLING PLAYSome stuff hits my high IVR/high IV radar over and over again. WYNN is one of those, with an IVR currently at 100 and an IV at 81.
Some caution is in order, though, since ordinarily I like going 45 days out and WYNN's earnings are due to be announced on 2/2, so I want any setup to expire somewhat before that so I don't get caught in a volatility expansion (that being said, how much more can it expand?).
Here's the setup (which I'll look to take off somewhat in advance of expiry), since it's getting in a bit tight to earnings:
Jan 22nd 45/77 short strangle
POP%: 79% (ridiculous, quite frankly for a play that is nearly worth 2.00 in credit)
Max Profit: $196/contract
BPE: ~$615
BE's: 43.04/78.96
WYNN LONGTrading Plan
- Entry Rule; Higher high, higher low, bullish candle after higher low, entry if open higher than the previous day close $68.99
- Stop loss; not lower than the open price of previous day $67.12
- Target Price @ previous high $75.7
- Reward to Risk ratio 2.97
Be Careful to go short hereThough recent insider buy gave the longs a room to breathe, it was more of short-covering rally but if it fails to hold recent swing low at $61.27 it will take this back to recent multiple month low at and around $51 area but also if there is a rally into year end this will have a good chance to crash $72 zone which now is a supply zone for many to exit could take this to $112 area. www.2waytrading.com
WYNN trade ideaGo long or short depending if price goes above the red line on top or if it moves below the bottom line
No mood to gambleWith the worry of interest rate hike, businessmen are in no mood to entertain themselves in the gaming and hospitality industry - which is evidenced by the freefalling price of Wynn Resorts.
The Institutional House laughed the loudest as they initiated their short position almost at the top of the uptrend channel, and scale up more once moving averages are turning southeast. And momentum trader are the final group of large fund that deliver this "knockout blow" within short term.
3 support levels to take note:
a. around 171.99, failure to hold
b. lower support of uptrend channel around 160, failure to hold
c. 200 ema will be the last line of defence
Hate 19/39 Crossover but will today's price save it?Monthly PP seems reclaimed early and history suggest that next overhead resistance will be achieved within weeks if it holds next few days. Expect price easily move towards $68.49 area before it tests $74 area hard to crack wall. Shorts will get a real wake up call and matter of judgement how the squeeze will continue. Real time alerts www.2waytrading.com
$WYNNLooks nice as long. Waiting for full stochastic pull back on daily and price pull back to the lower trend line.
$WYNN potential short setup Monthly chart showing weakness with the trend bearish, price broke under the $100 round number and has support at key $90 pivot level which has acted as both support and resistance several times. Weekly chart is bearish making LL and LH as well as trending under the 200 weekly ema. The daily is trending strongly with several unfilled gaps down showcasing weakness. Waiting for a break below the recent swing low at $93.59 and break and close of key $90 level before considering a starter short targeting the $40 level. One to watch in the next couple of months!
Just getting my 240 thoughts on WYNNSuch a far cry from the 220.50 high. but there is some divergence suggesting that some of the selling has been/is being exhausted. Could see some buyers stepping in around the 108 range.
WYNN - Watch closely!Weekly candle chart...
Supports are the supporting trend line and the 200 week moving average.
The resistance is the 50 day moving average (NOT SHOWN).
The convergence of the supports and resistance levels will force a reaction most likely in one direction or the other. I don't like entering here...I'd wait and see how it plays out. Ideally, we will see a break above the 50 day moving average on volume and the 200 week ROC become for positive. But if not, be careful.
You will also notice what appears to be a giant cup and handle formation, which, upon it's breakout (shown) behaved as such.
WYNN SHORT/REVERSAL OF TRENDWYNN looks to have peaked at a time China is slowing down.
WYNN is at an inflection point and pressure to the downside seems more likely. General Market direction will play a key role in WYNN's movement.
Is it a healthy consolidation on a long term uptrend. Or will exposure to China and reliance from the consumer put pressure on margins and rapidly decrease growth.
BUY MARCH 185 PUTS@ 25
SELL the March 195 CALLS @ 1.30
