{"id":64906,"date":"2025-08-12T02:00:00","date_gmt":"2025-08-12T07:00:00","guid":{"rendered":"https:\/\/www.tradestation.com\/insights\/?p=64906"},"modified":"2025-08-12T11:23:58","modified_gmt":"2025-08-12T16:23:58","slug":"options-alert-wynn-resorts","status":"publish","type":"post","link":"https:\/\/www.tradestation.com\/insights\/2025\/08\/12\/options-alert-wynn-resorts\/","title":{"rendered":"Options Alert: Big Trade in Wynn Resorts"},"content":{"rendered":"<p>Wynn Resorts rallied two months ago, and one big investor may expect further upside.<\/p>\n<p>This large transaction was detected yesterday in the company, which is building a major casino in the United Arab Emirates:<\/p>\n<ul>\n<li>36,000 September 80 calls were sold for $28.25.<\/li>\n<li>47,000 December 95 calls were purchased for $18.50.<\/li>\n<\/ul>\n<p><a href=\"https:\/\/www.tradestation.com\/insights\/2024\/05\/12\/the-basics-of-options\/\">Calls<\/a>\u00a0fix the price where investors can buy a security. They can gain value quickly when shares appreciate, but also expire worthless if a stock doesn\u2019t move enough.<\/p>\n<p>Volume was below open interest in the September 80s but not the December 95s. That may suggest an existing position was closed in the contracts expiring next month and some of the capital was rolled to December. The transaction was potentially bullish with some interesting subtleties.<\/p>\n<p>First, adjusting the position let the trader collect a credit of $14.75 million.<\/p>\n<p>Second, he or she exited calls with 100 <a href=\"https:\/\/www.tradestation.com\/insights\/2024\/05\/12\/memory-tricks-options-greeks-delta-gamma-theta-vega\/\">delta<\/a> and rolled into calls with 79 delta. However, given the greater number of contracts, their net delta increased from 3.6 million to 3.7 million. That means the new position will provide greater leverage if the shares keep climbing.<\/p>\n<p>Third, by owning more contracts, they ultimately stand to track 4.7 million shares. (That would result from delta increasing in the December 95 calls if WYNN keeps rising.)<\/p>\n<div id=\"attachment_64908\" style=\"width: 1034px\" class=\"wp-caption alignnone\"><img loading=\"lazy\" decoding=\"async\" aria-describedby=\"caption-attachment-64908\" class=\"wp-image-64908 size-large\" src=\"https:\/\/cdn.tradestation.com\/uploads\/sites\/2\/WYNN_20250811-1024x490.jpg\" alt=\"\" width=\"1024\" height=\"490\" srcset=\"https:\/\/cdn.tradestation.com\/uploads\/sites\/2\/WYNN_20250811-1024x490.jpg 1024w, https:\/\/cdn.tradestation.com\/uploads\/sites\/2\/WYNN_20250811-300x143.jpg 300w, https:\/\/cdn.tradestation.com\/uploads\/sites\/2\/WYNN_20250811-768x367.jpg 768w, https:\/\/cdn.tradestation.com\/uploads\/sites\/2\/WYNN_20250811-1536x734.jpg 1536w, https:\/\/cdn.tradestation.com\/uploads\/sites\/2\/WYNN_20250811-1080x516.jpg 1080w, https:\/\/cdn.tradestation.com\/uploads\/sites\/2\/WYNN_20250811.jpg 1920w\" sizes=\"(max-width: 1024px) 100vw, 1024px\" \/><p id=\"caption-attachment-64908\" class=\"wp-caption-text\"><em>Wynn Resorts (WYNN), daily chart, with select patterns and indicators.<\/em><\/p><\/div>\n<h2>Understanding Options<\/h2>\n<p>In other words, the investor accomplished at least three things:<\/p>\n<ol>\n<li>They gained three addition months to ride a potential rally<\/li>\n<li>They got back some of their money at risk<\/li>\n<li>They increased their leverage to future gains<\/li>\n<\/ol>\n<p>WYNN rose 2.1 percent to $108.63 and is back near a peak from mid-2023. The company mostly operates in Las Vegas and Macau. However, attention is now focusing on its Wynn Al Marjan Island project in the Persian Gulf. The property, expected to open in early 2027, would be UAE&#8217;s first casino.<\/p>\n<p>Some Wall Street analysts think Al Marjan will boost WYNN by enjoying a dominant market position in the Middle East. They see it generating additional revenue of $5-8 billion.<\/p>\n<p>The stock&#8217;s 50-day moving average had a &#8220;golden cross&#8221; above its 200-day MA last month. That could make some chart watchers think a bullish uptrend has begun.<\/p>\n<p>Overall option volume in WYNN was about 6 times greater than average yesterday, according to TradeStation data. Calls accounted for a bullish 93 percent of the total.<\/p>\n<hr class=\"wp-block-separator has-alpha-channel-opacity\" \/>\n<p><em>Options trading is not suitable for all investors. Your TradeStation Securities\u2019 account application to trade options will be considered and approved or disapproved based on all relevant factors, including your trading experience. See\u00a0<a href=\"https:\/\/www.theocc.com\/Company-Information\/Documents-and-Archives\/Options-Disclosure-Document\">www.TradeStation.com\/DisclosureOptions<\/a>. Visit\u00a0<a href=\"http:\/\/www.tradestation.com\/Pricing\">www.TradeStation.com\/Pricing<\/a> for full details on the costs and fees associated with options.<\/em><\/p>\n<p><em>Margin trading involves risks, and it is important that you fully understand those risks before trading on margin. The Margin Disclosure Statement outlines many of those risks, including that you can lose more funds than you deposit in your margin account; your brokerage firm can force the sale of securities in your account; your brokerage firm can sell your securities without contacting you; and you are not entitled to an extension of time on a margin call. Review the\u00a0Margin Disclosure Statement at\u00a0<a href=\"https:\/\/uploads.tradestation.com\/uploads\/margin-disclosure-statement.pdf\">www.TradeStation.com\/DisclosureMargin<\/a>.<\/em><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Wynn Resorts rallied two months ago, and one big investor may expect further upside.<\/p>\n","protected":false},"author":39,"featured_media":64907,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_et_pb_use_builder":"","_et_pb_old_content":"","_et_gb_content_width":"","inline_featured_image":false,"footnotes":""},"categories":[28,14],"tags":[575],"class_list":["post-64906","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-consumer","category-options","tag-wynn","et-has-post-format-content","et_post_format-et-post-format-standard"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v25.3 - 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Drawing on more than two decades of experience as a financial journalist and analyst, his background includes equities, emerging markets, fixed-income and derivatives. He previously worked at Bloomberg News, CNBC and E*TRADE Financial. Russell systematically reviews countless global financial headlines and indicators in search of broad tradable trends that present opportunities repeatedly over time. Customers can expect him to keep them apprised of sector leadership, relative strength and the big stories \u2013 especially those overlooked by other commentators. 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