Definitely let this one get away from me. While the overall market was weak, the stock ripped on good Macau numbers.
I’m going to bail here for a small loss and stalk it to the long side.
Because we have a combination of a bear put spread and a bull put spread, we’re going to use a put condor order to close the trade.
| IWO Premium Order Ticket | ||||
| Type | Asset | Duration | Strike | C/P |
|---|---|---|---|---|
| STC | WYNN | 21 Oct 16 | 95 | Put |
| BTC | WYNN | 21 Oct 16 | 90 | Put |
| BTC | WYNN | 21 Oct 16 | 80 | Put |
| STC | WYNN | 21 Oct 16 | 75 | Put |
| Total Debit: | 1.11 | |||