Investors in Wynn Resorts Ltd (WYNN) saw new options begin trading this week, for the April 19th expiration. At Stock Options Channel, our YieldBoost formula has looked up and down the WYNN options chain for the new April 19th contracts and identified one put and one call contract of particular interest.The put contract at the $240.00 strike price has a current bid of $9.30. If an investor was to sell-to-open that put contract, they are committing to purchase the stock at $240.00, but will also collect the premium, putting the cost basis of the shares at $230.70 (before broker commissions). To an investor already interested in purchasing shares of WYNN, that could represent an attractive alternative to paying $241.89/share today.
First Week of WYNN April 19th Options Trading
Check Out Our Best Services for Investors
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
Access the tool that DOMINATES the Russell 2000 and the S&P 500.
- Buy, hold, or sell recommendations for over 4,300 stocks
- Unlimited research reports on your favorite stocks
- A custom stock screener
- Model portfolio
- Stocks trading below $10
- Intraday trade alerts