252% Gain on MGM Stock option 8/21 with 19.50 Strike
MGM stock (MGM Resorts International) is one of the stocks that I rarely play since I have been burned way too many times. From my experience MGM is one of those stocks that is too slow for me and when it’s about to come up, it shoots back slowly. Just like you slowly bleed out LOL…For commons at least each time I played it. Again it may or may not work for everyone.
MGM Stock Option 8/21 $19.50
So on 8/7 we played it just like every other stock. I did a small position because I know for a fact, I know my max gain or so would be like 20%. Or I was willing to lose it all since it was only a very small position.
The lucky plays because in this case there was no way this was predictable for the public. Again if you zoom out, there is a Resistance around that area so if you were smart you’d get out.
There was MGM news that can be read here:
IAC Invests in MGM Resorts International
MGM + 252%
Other than that, there was no other plays that we did and we still have the following open.
| TICKER | EXPIRE | STRIKE |
| DKNG | 8/21 | $40.00 |
| WMT | 8/21 | $140.00 |
| LUV | 12/18 | $55.00 |
| HPE | 9/18 | $20.00 |
| FB | 8/21 | $280.00 |
| SNAP | 8/21 | $22.50 |
| MU | 8/14 | $49.50 |
| V | 8/21 | $202.50 |
DKNG, WMT, and FB are the only ones that will probably break my account. Not totally but we’ll see what happens in the next week when these are close to expiring. MU is one that I’m trying to get rid of due to the expiration day. V (Visa) is one that I always seem to win. Remember this Visa gain 40% ? So I’m expecting Visa to do the same. Again Visa historically will stop at $200. So I will probably not play anymore MGM Stock options because I can see this turning back. But if there’s the right flow than I will go ahead and replay. For now MGM is only on the weekly stock watchlist.
