WYNN

I really had a hard time reading WYNN. My Daily had WYNN up 30 candles but I was so sure WYNN was going to fall. So yesterday I bought 2 different stike prices.

I sold just a while ago.

WYNN RESORTS
01/22/2014 O STC WYNN Feb14 210 Put 4 $9.05 $14.95 $3,604.84
01/21/2014 O BTO WYNN Feb14 210 Put 4 $6.95 $14.95 ($2,795.09) 809.75
01/22/2014 O STC WYNN Feb14 220 Put 2 $15.90 $14.95 $3,164.92
01/21/2014 O BTO WYNN Feb14 220 Put 2 $13.00 $14.95 ($2,615.02) 549.90
Total Realized Gain/Loss for WYNN $1,359.65
Total Realized Gain/Loss $1,359.65

Having watched WYNN and its options it is not a stock I will follow. It is apparent that the Market Maker (MM) is alllowing WYNN to fall slowly. Not what I like for how I trade.

Yes sometimes I will be trading up to $10,000.00 per trade...



Edited 1 time(s). Last edit at 01/22/2014 11:24AM by Darcy2.

Darcy,
I traded WYNN yesterday. I was in the play when the spread got very wide. The MM had raised the Ask significantly but wouldn't move the Bid. I put in a Limit Sell order in between the Ask/Bid, quite above where the current Bid was. The MM immediately hit my price and took me out at my target. He immediately dropped the Bid back down and it never got near my sell point again. I was surprised, yet happy, he took me out. Not sure if I'll trade WYNN again, it seemed a little less predictable than some others I've traded.

Excellent trade, ya'll, according to Weekly & Daily, WYNN is poised to continue lower for a while.

Traildoc, RT...It does look as if the market maker holds this stock really tight to the chest. The Ask and Bid has been well let's say a little whack-o. I am glad I am out and intend to remove WYNN from my basket never to dark in that door again. I do not like how the options move at all!

ADD: Well shoot had I remained in the trade I would have made 4 grand!!!

But as I said I did not like the way the market maker moved those options. I am not use to one doing trades that way. WYNN will remain out of my basket.



Edited 1 time(s). Last edit at 01/24/2014 11:33AM by Darcy2.