https://external-preview.redd.it/ParnOCDciKqs1XdHm4yHMyiWChw7zCbCkM-HfeqZgYE.jpg?auto=webp&s=bb98c450f1042fdba64f3ad9a0c13e2c13c64e5b
Hi guys, casino stocks affiliated with Macau have lately experienced very crazy price action courtesy to Macau government’s flip flopping on COVID policies.
In response to upcoming midterm elections, politicians around the world have began trying to create favorable policies to get base voters to continue voting for them. Macau is no different. In the beginning of the month, Macau will attempt to strike optimism by releasing news on the 1st week of the month that COVID related restrictions will be lifted. By the second week of the month, they reinstate these policies if there are even 2-3 active cases of the virus detected.
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Traders have been profiting off this volatility since the beginning of the month.
The best way to profit from the incoming volatility when they announce more relaxed COVID policies on the 1st of November is to accumulate cheap out of the money weekly expiry call contracts (expiring November 4th) on WYNN and LVS throughout the trading day on October 31st. The ones costing $3 per contract and $4 per contract will have the biggest bang on the buck.
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One can also accumulate cheap weekly expiry put contracts on these stocks on November 7th (expiring November 11) and swing them into November 8th.
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News is attached below:
[https://macaonews.org/covid-19/surge-in-covid-19-cases-sees-zhuhai-macao-travel-restrictions-extended-until-31-october/](https://macaonews.org/covid-19/surge-in-covid-19-cases-sees-zhuhai-macao-travel-restrictions-extended-until-31-october/)
Any new updates will be found here:
[https://macaonews.org/category/covid-19/](https://macaonews.org/category/covid-19/)
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Edit: When you accumulate contracts, try to buy 30-40 at a time. And, wait for your transaction to be posted on the options chain before buying more. It takes about 10-15 minutes for a trade confirmation to be generated and posted on options chain. If you try to buy 2000-3000 contracts in one go, the market maker will see the unusual options activity and move the market against you, making this play no longer profitable.
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>The best way to profit from the upcoming volatility in Macau is to buy cheap out-of-the money weekly expiry call options on Wynn Resorts and Las Vegas Sands. These options will expire on November 4, and will give you the biggest bang for your buck if bought on October 31. You can also accumulate cheap weekly expiry put contracts on these stocks on November 7, and swing them into November 8.
Why are so many people bringing up tickers from the COVID crash? Been seeing weed stocks, cruiselines, draftkings, and now Wynn. What’s next? PLTR? NIO?