Wynn (WYNN) Offering Possible 34.05% Return Over the Next 8 Calendar Days

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Wynn’s most recent trend suggests a bullish bias. One trading opportunity on Wynn is a Bull Put Spread using a strike $129.00 short put and a strike $124.00 long put offers a potential 34.05% return on risk over the next 8 calendar days. Maximum profit would be generated if the Bull Put Spread were to expire worthless, which would occur if the stock were above $129.00 by expiration. The full premium credit of $1.27 would be kept by the premium seller. The risk of $3.73 would be incurred if the stock dropped below the $124.00 long put strike price.

The 5-day moving average is moving up which suggests that the short-term momentum for Wynn is bullish and the probability of a rise in share price is higher if the stock starts trending.

The 20-day moving average is moving up which suggests that the medium-term momentum for Wynn is bullish.

The RSI indicator is at 44.52 level which suggests that the stock is neither overbought nor oversold at this time.

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