Today’s tickers: WYNN, FL & JPM
WYNN - Wynn Resorts, Ltd. – More than 36,000 option contracts changed hands on the casino operator on Friday morning before the stock was halted with news pending at 10:18 a.m. in New York trade. Wynn Resorts kicked off the final trading session of the week up better than 6.0%, making it the biggest gainer in the S&P 500 Index, after an 8-K filing, which has since been retracted by the company, suggested progress had been made on a new resort in the Cotai region of Macau. The stock resumed trading after Wynn Resorts said the 8-K was mistakenly filed and shares surrendered gains temporarily as the market digested news of the retraction. Clawing back the filing does not seem to have dampened excitement over potential expansion in the gambling hub, as Wynn’s shares quickly regained their footing to hit an intraday high of $132.59 after trading resumed. Options volume on the Las Vegas-based company has doubled since this morning, with more than 80,000 contracts in play as of 1:00 p.m. ET. Investors are favoring calls over puts, exchanging roughly 1.9 call options on WYNN for each single put contract in action today. The stock continues to be the leader in the S&P 500, though shares are off their highest level this afternoon, currently up 5.5% on the day to stand at $128.77.
FL - Foot Locker, Inc. – Options on athletic footwear and apparel retailer, Foot Locker, Inc., are more active than usual this morning following the release of better-than-expected fourth-quarter earnings after the bell on Thursday. Shares in the New York, New York-based Company rallied earlier in the session, but slipped into negative territory to trade 1.1% lower on the day at $29.10 as of 11:30 a.m. on the East…
