Trade of the Week: Unusual Options Activity in MGM Resorts

Earnings, Options, Videos

MGM Resorts (MGM), the major casino operator, is seeing some unusual options volume ahead of its October 30th earnings. MGM normally trades about 11,000 options per day, but that number recently spiked to over 36,000.

A big player looks to have rolled forward 4,500 calls which make money if MGM shares moves higher during earnings week. This is likely a straight bullish play that MGM is going to post better than expected earnings.

$500 into $678,906?

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That sounds unbelievable. But you gotta see how it’s possible.

If you can scrounge together $500 in cash, it could’ve been worth a small fortune today.

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