Shares of Wynn Resorts Passed Current Market Expectations
Luxury casino developer Wynn Resorts (WYNN: 87.87 0.00%) has surpassed analysts’ expectations during recent market activity.
On November 09, 2009 SmarTrend identified an uptrend for the gaming giant with stock prices reaching $63.34 and over the past four months, Wynn has returned 12.6% as of today’s recent price.
Wynn Resorts has the second highest cash flow per share in the Resorts & Casino market with cash flow of $3.80 per share for the last year.
Wynn’s cash and short term investment reached $16.16 per share at the end of the last fiscal quarter.
Tuesday saw option players buying up bullish bets at a faster pass than normal, with 12,000 calls crossing the tape. Double the equity’s expected daily call volume.
With March dated options expiring after the market closes on Friday, the March 75 call saw the highest traffic with 4,136 calls.
By buying these options, traders are betting on Wynn to exceed the 75 strike by expiration on Friday.
Shares of Wynn are currently trading around the $74.32 area, above its 50 day moving average of $65.45 and above its 200 day moving average of $57.58.
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