Wynn Resorts (WYNN) NewsBite - WYNN Falls after Dividend
Posted: Tuesday, November 17, 2009 11:40 AM EDT
By: Market Intelligence Center Staff
Wynn Resorts (NasdaqNM: WYNN) opened at $65.60. So far today, the stock has hit a low of $64.66 and a high of $65.78. WYNN is now trading at $65.35, down $3.16 (-4.62%). Over the last 52 weeks the stock has ranged from a low of $14.50 to a high of $74.90. WYNN shares are declining after the company passed an ex-dividend date this morning for a large, 4.00-per-share dividend. When factoring that in, WYNN is actually up on the day. Technical indicators for the stock are neutral and S&P gives WYNN a neutral 3 STARS (out of 5) hold ranking. If you are looking for a hedged play on WYNN the stock seems like it could be a candidate for a January out-of-the-money bull-put credit spread below the 50 range. [ABR-Seven Summits Strategic Investments NewsBite]
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