$WYNN ellipse breakoutText-book ellipse breakout with expanding volume, what a beauty! Huge upside potential, $PENN is looking wonderful too.
Yeah I said it....ellipse breakout!!
WYNN
After-earnings $MAT Credit Spread Bearish Trade*WE'VE ACCIDENTALLY PUBLISHED PRIVATE IDEAS*
From a trade earlier this month, we traded a credit spread opportunity to the downside on Mattel ($MAT). Check out our articles for more about this trade as well as our trades on $TWTR and $WYNN this month.
Consolidated gambling.WYNN is still under accumulation and will be in it for a while. If it breaks down though, watch out.
Not saying there are no trades to be made here. I'm just observing its behavior.
$WYNN - Looking bullishIf stock indexes continue to explode upwards this could be a nice long opportunity.
WYNN range bound 88.5-105simple chart, WYNN is range bound and WILL hit 88.5 in Dec2016. stops at 107.5, limit order in at 88.75
WYNN breaking out of a rangeWYNN looks to be breaking out of a range, though more consolidation here first would be best
$WYNN has a date w/ a gap$WYNN descending broadening wedge within channel up, to gap fill.
Void if channel breaks to downside.
potential cup and handle patternafter such a robust NFP readings and formation of cup an handle pattern.. buy setup.
buy when the price closes above 50% retracement.
Absent sellers with 18% upside to close 2014 "gap"WYNN saw DISTRIBUTION into resistance April 7, 2016; however, when support was tested there was no selling pressure.
Friday's close is the highest close in 10 months.
150 sma crossed over the 200 sma in May
Bullish ascending channel
18% upside to retest demand where longer term supply is established. This would also close the April 2014 "GAP."
$LVS showing signs of accumulation. LVS is a great review of accumulation, markup, distribution, and markdown cycles. Price action looks like we are seeing some accumulation. Recommend remaining CAUTIOUS on an entry as supply or selling demand looks to be present. If shares are not controlled by "strong hands" we may still see some volatility to shake "weak hands."
Add LVS to your watchlist
THIS WEEK'S OPTIONS WORTHY EARNINGS PLAYS -- DIS, BIDU, TSLAUnfortunately, I was fiddling around so much with setups in index ETF's and GLD last week that I didn't get a chance to do a single earnings play ... But it's all good.
Naturally, if volatility remains high in SPY, DIA, QQQ, and/or IWM, I'll continue to work those. However, while I'm waiting for some kind of bounce to occur to leg into the short call side of those on strength, maybe I'll be able to fit one of these plays in just to keep myself entertained.
CVS -- announces on 2/9 (Tuesday) before market open. Implied volatility rank: 83/implied volatility 31. I'll have to look at that one closer to earnings. The implied vol number suggests that while volatility is temporarily high, it's just not one of those underlyings that are very volatile generally speaking.
DIS -- announces on 2/9 (Tuesday) after market. Its implied volatility rank isn't quite where I'd like it (63; >70 is better), but you never know what'll happen going into the last couple of days here.
BIDU -- announces "some time" on 2/10, which could be before/after market (you'd think they'd know at this point ... ). High implied volatility rank (83) plus high volatility (58) equals good premium. I would probably just look to put on a play on Tuesday if the premium looks attractive (it does right now; even for an iron condor setup).
WYNN -- announces "some time" on 2/10. Rank: 95/implied 80. This little guy is not for the faint of heart. I've been in and out of WYNN several times this year as a non-earnings premium selling play and it whips all over the place, with a Daily 14-Period ATR of between 3 and 4 bucks ... .
TSLA -- announces on 2/10 after market close. What's not to like about a TSLA play? Implied volatility rank is at 100 and the implied volatility is 82. Beaucoup premium ... .
There are naturally a bunch of others announcing earnings, it's just that they're not necessarily good premium selling plays due to their implied volatility, so they'll probably just have to be played some other way ... .
Key prices for WYNNOverall Bearish trend. There are short term opportunities at critical price levels.
WYNN Long PlaySimply wynn has beated earnings previously after having earnings misses consecutively. We have the stock picking up momentum and buying action in anticipation for the next earnings call in February. Traders have overall good sentiment in the company and are looking to get long early. Im long at C if we rally before earnings or if we have good earnings i will be long into D if im late with the trade
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 trade ideaGo long or short depending if price goes above the red line on top or if it moves below the bottom line
$WYNNLooks nice as long. Waiting for full stochastic pull back on daily and price pull back to the lower trend line.
JBLU LONG lots of support Stochastic s turning up JBLUE is holding this Trend-line support watch the levels 19.50-20 buy zones. The airlines are all hitting the buy levels. I cant stress enough, traders must learn to BUY the FEAR and SELL the GREED. Always have a plan and always have a stop. understand your parameters and you will do well.
KEEP IT SIMPLE TRADE LEVELS
MGM WEEKLY VIEWLong over 21.70 via Dec 22-24 calls. Earnings coming up next week. Will trim half prior.
