Someone Rolling the Dice In Gaming Stocks?

Rumors are like, well let me be discreet, like backsides, everyone has one!

Gaming stocks are getting lift as chatter has Icahn taking a stake in WYNN. This and some talk about the gross gaming revenue in Macau bottoming has folks buying a host of gaming names.

WYNN is $11 (12%) higher than its July 15th low of $92,  LVS is up from $46 to $52 (13%) over the same period.

Perhaps that and a lack of exposure to Macau is why BYD is seeing the most aggressive buying today, as it’s “only” moved from  $18.75 to $19.75 (5% move).

I note for you that the August 20 calls quadrupled from last night’s close of $.10 to $.40 today, but I’ll also note that these calls have just 6 trading sessions to live!

As always, be sure you understand time decay and other factors in option trading before you jump into the deep end of the pool. If you’d like to learn about options, check out our offerings here at Investitute.com.