From the floor of the CME group Dan Passarelli, CEO of Market Taker Mentoring Inc. talks about a trade in Wynn Casinos (WYNN). Passarelli suggests selling the WYNN August 225, 230 call spread for $1 or better. After missed earnings, the stock did not rally and has not been at $220 per share since May. Passarelli’s trade has a solid resistance and high implied volatility, which is expected to fall. With a credit call spread, as long as the stock does not rise above the strike price it is a winner. This trade has a high statistical value and potential profit because it is unlikely to move higher than $7 in 16 days. The options are overpriced because of high volatility, so the seller makes more money. This makes the daily theta and break-even point higher.