Big Loser Alert: Trading today’s -9.0% move in WYNN RESORTS $WYNN

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Quantchabot has detected a promising Bear Call Spread trade opportunity for WYNN RESORTS (WYNN) for the 29-Oct-2021 expiration period. You can analyze the opportunity in depth over at the Quantcha Options Search Engine.

WYNN was recently trading at $94.17 and has an implied volatility of 45.62% for this period. Based on an analysis of the options available for WYNN expiring on 29-Oct-2021, there is a 34.14% likelihood that the underlying will close within the analyzed range of $80.18-$94.18 at expiration. In this scenario, the average linear return for the trade would be 37.54%.

Big -9.00% Change: After closing the last trading session at $103.48, WYNN RESORTS opened today at $95.39 and has reached a low of $93.58.

Trade approach: A movement as big as -9.00% is a significantly bearish indicator, so this trade is designed to be profitable if WYNN maintains its current direction and does not revert back to pricing on the bullish side of $94.17 on 29-Oct-2021. If possible, the trade has been padded such that slight movement against the trade would still return a profit.

Upside potential: Using this bearish strategy, the trade would be profitable if WYNN RESORTS closes at or below $94.30 on 29-Oct-2021. Based on our risk-neutral analysis, there is a 50.32% likelihood of this return.

Downside risk: As with any options trade, there is a substantial downside risk where you may lose most or all of your investment.

To analyze this trade in depth, please visit the Quantcha Options Search Engine.