Winning With Wynn, Garmin: Street Sense

CHICAGO (TheStreet) -- We've been tacking on some nice winners in our Grand Slam and Extreme portfolios lately. Some have been asking "what I see" or "how I do it." Here's a good opportunity for you to learn. I'll have two today and a couple more soon!

Garmin: Grand Slam Call Trade

Last week, we bought some October 34 Garmin(GRMN) calls just after the company announced better sales and numbers. The stock was a good winner for us a couple of months back, but last week was an ideal time as the shorts were looking for more downside. The calls were going off the board for September as a quick move was anticipated. I went with in-the-money October strikes to give myself some room and still participate in the upside. This was a massive winner for us, banking 75% then 189% on the remainder. When we buy these, we allocate 5% of capital to each position, but the return is still absolute. The chart and notes follow.

Tracking Down Profits With Garmin

Wynn: Grand Slam Call Trade

We bought some Wynn Resorts(WYNN) on the dip and bought in-the-money calls that had a lot of intrinsic value. That doesn't bother me much, as this turned into a huge winning trade for us (up 138% on part of it, 60% on the first half, managing the risk). The chart setup was great; we used the retest method. This is a momentum play that requires some patience but also constant monitoring. See the chart and notes below.

Cashing In With Wynn

Next I'll discuss Randgold Resources(GOLD) and Joy Global(JOYG)!

Editor's note: To read Lang's column on GOLD and JOYG, click here.

-- Written by Robert Lang in Simi Valley, Calif.

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