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February 8, 2010 8:30 EST Related Symbols: WYNN
you're watching:
Mad About Options
An options-related take on Jim Cramer's latest recommendations and analysis on the latest securities and ETFs getting attention on the Street.
ONN.tv recalls Cramer’s recommendation on Wynn Resorts and option strategies for investors.
The Pick – Wynn Resorts Inc. (NASDAQ: WYNN):
On Jan. 15, Mad Money host Jim Cramer recommended Wynn on any weakness, and said the company’s Macau operations are “on fire.” He expects that to continue with the Chinese New year in February. Also, revenues from Las Vegas were up two months in a row.
BULLISH Option Trading Idea for WYNN:
Bull put spreads –
Maximum risk: $14 plus commissions
Maximum potential profit: $6 minus commissions
Breakeven: The strategy will be profitable if WYNN shares are trading higher than $54 at June expiration.
BEARISH Option Trading Idea for WYNN:
Bear put spreads–
Maximum risk: $15.70 plus commissions
Maximum potential profit: $4.30 minus commissions
Breakeven: The strategy will be profitable if WYNN shares are trading lower than $64.30 at March expiration.
For more trading ideas and breaking news on the options market, stay tuned in to The Options News Network.
