Wynn (WYNN) Offering Possible 31.58% Return Over the Next 9 Calendar Days

Wynn's most recent trend suggests a bearish bias. One trading opportunity on Wynn is a Bear Call Spread using a strike $131.00 short call and a strike $136.00 long call offers a potential 31.58% return on risk over the next 9 calendar days. Maximum profit would be generated if the Bear Call Spread were to expire worthless, which would occur if the stock were below $131.00 by expiration. The full premium credit of $1.20 would be kept by the premium seller. The risk of $3.80 would be incurred if the stock rose above the $136.00 long call strike price.

The 5-day moving average is moving down which suggests that the short-term momentum for Wynn is bearish and the probability of a decline in share price is higher if the stock starts trending.

The 20-day moving average is moving down which suggests that the medium-term momentum for Wynn is bearish.

The RSI indicator is at 60.06 level which suggests that the stock is neither overbought nor oversold at this time.

To learn how to execute such a strategy while accounting for risk and reward in the context of smart portfolio management, and see how to trade live with a successful professional trader, view more here

LATEST NEWS for Wynn

Wynn Resorts Stock: Stay at the Table or Cash Out?
Mon, 07 Jun 2021 11:30:00 +0000
Aggressive traders could probe the long side here risking below $110 for now. The On-Balance-Volume (OBV) line shows a low in early May and some improvement into June. In the weekly Japanese candlestick chart of WYNN, below, we can see a constructive-looking picture.

Wynn Resorts (WYNN) Benefits From Improving Visitation
Fri, 04 Jun 2021 13:46:01 +0000
Wynn Resorts (WYNN) is gaining from improving visitation, strong brand recognition and sports betting expansion.

Encore At Wynn Las Vegas Introduces Dog-Friendly Resort Program
Thu, 03 Jun 2021 16:09:00 +0000
Encore at Wynn Las Vegas is extending its renowned level of luxury service to canine clientele with the launch of a new dog-friendly resort program. Beginning today, guests of Encore can enjoy their stay in any room or suite with up to two furry friends, and indulge in exclusive amenities that meet the needs of this new breed of resort VIPs – Very Important Puppies.

The Andersons, InterContinental Hotels Group, MGM Resorts, Wynn Resorts and Las Vegas Sands highlighted as Zacks Bull and Bear of the Day
Thu, 03 Jun 2021 12:37:12 +0000
The Andersons, InterContinental Hotels Group, MGM Resorts, Wynn Resorts and Las Vegas Sands highlighted as Zacks Bull and Bear of the Day

Macao Gaming Revenue Surges 492% in May as Holiday Tourists Swarm City
Tue, 01 Jun 2021 12:06:00 +0000
China's Golden Week holiday welcomed a large influx of tourists to the gambling mecca of Macao who promptly gambled large sums of money in the city's casinos. Monthly gross gambling revenue surged 492% in May from last year, hitting 10.4 billion patacas, the local Macao currency, or around $1.3 billion. Casinos in China were counting on the Golden Week holiday — one of three week-long festivals held in the country at various times — to lift the prospects for gambling's revival.

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