Vacation WYNN and GOOG

The big trade yesterday was $GOOG . Up 12.77% ($67.50) to 596. There was a nice option trade with 1000, 580 calls passing. That trade netted over $1,000,000 today. The calls were way underpriced at about 10% premium… Yesterday, I was thinking there was so much positive expectation, that I’d stay away (or go contrarion…)

I’m still watching $SLV and $WYNN, both for different reasons: $SLV is seeing buyers return with uncertainty, $WYNN is overbought. The $WYNN options are expensive but it seems to be bumping up against strong resistance at 160. If you’re bearish or hoping for some pullback, one possibility would be a Aug 155/145 Put Vertical for about $3.00. Break even at 152. Earnings are July 18th.

Trade well. I’m enjoying a vacation… :)