Wynn (WYNN) Offering Possible 7.07% Return Over the Next 3 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 $192.50 short put and a strike $187.50 long put offers a potential 7.07% return on risk over the next 3 calendar days. Maximum profit would be generated if the Bull Put Spread were to expire worthless, which would occur if the stock were above $192.50 by expiration. The full premium credit of $0.33 would be kept by the premium seller. The risk of $4.67 would be incurred if the stock dropped below the $187.50 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 53.19 level which suggests that the stock is neither overbought nor oversold at this time.

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LATEST NEWS for Wynn

Steve Wynn’s Bad Luck With Picasso Goes On With $70 Million Work
Sun, 13 May 2018 21:20:11 +0000
Steve Wynn’s plan to sell a Picasso valued at $70 million at auction this week was derailed after the painting was damaged Friday — a dozen years after the billionaire collector and former casino magnate put his elbow through another masterpiece by the artist. Christie’s withdrew “Le Marin,” a self-portrait painted in 1943, from its auction this Tuesday for restoration, it said in a statement. A spokesman for Wynn couldn’t immediately be reached for comment.

Wynn Resorts proxy fight involving its largest investor heads to a shareholder vote next week
Fri, 11 May 2018 23:30:00 +0000
The ex-wife of former CEO Steve Wynn is seeking to oust a longtime board member and make other changes. Gaming regulators in Massachusetts and Nevada said this week there remains an active investigation into the company. Elaine Wynn, the ex-wife of Steve Wynn and now largest shareholder of Wynn Resorts, is behind a proxy battle that is set to come to a head at the company’s upcoming annual meeting May 16.

Elaine Wynn criticizes Wynn chairman in new letter
Fri, 11 May 2018 15:17:00 +0000
CNBC’s Contessa Brewer reports on the fight brewing between Elaine Wynn and the board of Wynn Resorts, the company founded by Elaine’s husband. Steve Wynn stepped down from the company after he was accused of sexual misconduct.

Don’t underestimate Elaine Wynn: Jim Stewart
Fri, 11 May 2018 14:20:00 +0000
CNBC contributor and N.Y. Times Columnist Jim Stewart discusses his interview with Elaine Wynn who is the largest shareholder in Wynn Resorts after her ex-husband Steve Wynn was forced to sell his shares of the company amid sexual misconduct allegation…

Melco Resorts Starting to Struggle in Competitive Cotai Market
Fri, 11 May 2018 13:45:00 +0000
As its competitors’ newer resorts thrive, Melco Resorts is growing revenue, but losing market share in Macau.

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