A Long WYNNded Trade
Learn To Trade Options with John Carter. Get options trading strategies and options trading tips from a professional options trader. Simpler Options provides a daily options trading newsletter with video analysis to explain option trading and help in your understanding of options trading.Option Trading Strategies | Online Training | SimplerOptions.com
Home    Free Options Trading Videos    Become a Member!    Blog    Refer A Friend Program    Login
Membership Options
Elliott Wave Dispatch
Bruce's BIAS
Free: The Simpler Report
Simpler Indicators Store
Simpler Options Indicators
Simpler Trading Scanner
TTM Indicators
Voo Doo Lines Indicator
Popular Courses
Austin Seminar June
Probabilistic Mindset
Bruce Marshall Classes
Chris Brecher Classes
John Carter Classes
The Bullseye System
Triple Strength Trades
Free Options Trading Videos
John's Trading Office
Product Recordings
Recommended Reading
Refer A Friend Program
Who We Are
About Simpler Trading
Terms of Use
Site Map
Privacy Policy
Contact Us
home | Options Trading Archive | A Long WYNNded Trade

A Long WYNN'ded Trade

Henry Gambell
Printer-Friendly Format

The Tuesday before options expiration is usually the last day I'll even consider taking a strictly long call or put position in any front month option. Wednesday we'll begin to focus on pinning and other expiration strategies, but today I'm taking a look at a play for November. Wynn Resorts (WYNN) doesn't need an introduction as to what market they're in or how they make their money. This trade is based solely off fundamentals. 

On a weekly chart we have a long squeeze that is just starting to fire off.  This is telling us that the Bollinger Bands are starting to pop out of the Keltner Channels and we can be looking for some volatility in the coming weeks. We're clearly above our 50 period EMA (red) and our 200 period EMA (white), not to mention the obvious uptrend. All of these technical indicators signal a long for me and I expect for this stock to go on and test it's August '08 highs.

Trade described: Buy To Open NOV 95 WYNN Call

Positions at time of publication: None

Symbol WYNN
Action (Buy to open/Buy to close/Sell to open/Sell to Close Buy to Open
No. of contracts (where applicable) 1
Expiration month NOV 2010
Strike price 95
Type (Stock/Call/Put) Call
Trade price $11.90
Spread (better than/none xxxxxxxxxxx
Position? None
Chart Source? TS & TOS
Stop $97.00


Printer-Friendly Format