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Strategies & Market Trends : General market lab and commentary

SPY 683.31

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Nov 12 4:00 PM EST

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From: Robohogs	4/27/2016 11:44:02 AM
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Moderate risk trade. Mkt expected Wynn results this week, per usual. The IV is now shifting so that it is either this week or next. Wynn releases date ahead of time with never less than 2 days notice. In last 2 years, they HAVE NOT released on a Friday. Selling a 85/93 strangle and buying a $2 wider strangle yields 40-45 cents on 1.55-1.6 risk. IF there is no release and stock behaves normally, free money. IF it announces a Friday release, you can take a 20-25 cent loss tomorrow. Odds favor no release. I am short a 92.5/97.5 call and 2 87.5/85 puts so too tight but should be ok. PS The 2 days notice was given once. All the rest were 3-5. They also preannounced a few weeks ago. Someone else informed me they had gotten a note back from IR indicating the date was uncertain. Earningswhispers has May 5. Nasdaq has yesterday. Yahoo has no date. IF a PR comes out saying next week, most of the money made then and you can exit early. Lots to like.

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