Buy Oct 70 puts WYNN
Readers know I prefer to sell options, not buy them. However, for shorting, puts limit risk, and also give a time stop. The obvious downside is the time decay and the option premium. A put buyer has to be correct on direction and time--not an easy trick.
RAI Reynolds called away early for the dividend. A tiny profit, with neglible risk, and there was a chance at the 1% quarterly div.
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