Wynn Resorts, Limited (NASDAQ:WYNN) has been stuck in a bearish trading range since April 2016. This can clearly be seen on the stock chart below. Being a bearish trading range, it is likely that Wynn Resorts will break lower in the next few weeks. When the stock closes below the lower range trend line, I am looking to buy puts or short the stock. The downside is insane with a potential move to $57.50. Considering the stock is currently trading at $90.72, this gives investors a possible profit of 37%.

By Pro-Trader

Jenny Rebekka