STOCK SHOWDOWN - Writing Covered Calls - PENN vs WYNN

Which stock would I buy for Writing Covered Calls - PENN vs WYNN
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DISCLAIMER: This stock comparison is 100% for entertainment. I'm not recommending these stocks as a purchase. The research jump links in this blog post are ones that I use to start my stock investing research. Always do your own due diligence and never risk more money then you are willing to lose. Think of it like this blog post as seeing the world thru my eyes.
COVERED CALL SHOWDOWN! - WHICH STOCK WOULD I PURCHASE TO WRITE A COVERED CALL
Penn National Gaming, Inc.
	PENN	vs		WYNN
Wynn Resorts, Limited
Seeing the World Thru my Eyes - the Straight Talk
Recently I've been interested in the price action of Wynn Resorts (WYNN) as I've noticed a trading pattern I want to play ... I started doing some simple preliminary research on its next earnings, possible dividend reinstatement ... and I found PENN NATIONAL GAMING (PENN) is everywhere in the news ... and it ALL seems good. So I started doing some research on PENN and wanted to compare and contrast that with WYNN ... as I've found they both have a similar market cap but play in very different casino sandbox's ... PENN is a regional gaming/casino outfit which has just signed a deal that has Wall Street all fired up ... where as WYNN has its American based casinos but its BIG GUN is in China ... which brings in BILLIONS of dollars ... WYNN's access to the China markets make for a very interesting investment ... PENN's regional casino's and its new deal with Barstool makes for its own interesting play ... let's see who wins this Covered Call Stock Showdown
NOTE - AT THE TIME OF THIS POSTING, BOTH COMPANIES STOCK PRICES BELOW
PENN			WYNN
$55.14			$86.52
Penn National Gaming, Inc.			Wynn Resorts, Limited
Just in case you didn't know ... here's some basic company information about what they do.
Penn National Gaming, Inc., together with its subsidiaries, owns and manages gaming and racing properties, and operates video gaming terminals with a focus on slot machine entertainment. The company operates through four segments: Northeast, South, West, and Midwest. It also offers live sports betting at its properties in Indiana, Iowa, Mississippi, Nevada, Pennsylvania, and West Virginia; and operates online casino under the name of iCasino in Pennsylvania. As of March 16, 2020, the company owned, managed, or had ownership interests in 41 gaming and racing properties in 19 jurisdictions. It owns various trademarks and service marks, including, Ameristar, Argosy, Boomtown, Greektown, Hollywood Casino, Hollywood Gaming, Hollywood Poker, L'Auberge, M Resort, and MYCHOICE. The company was formerly known as PNRC Corp. and changed its name to Penn National Gaming, Inc. in 1994. Penn National Gaming, Inc. was founded in 1972 and is based in Wyomissing, Pennsylvania.			Wynn Resorts, Limited designs, develops, and operates integrated resorts. The company's Wynn Palace segment operates 424,000 square feet of casino space with 323 table games, 1,011 slot machines, private gaming salons, and sky casinos; a luxury hotel towers with 1,706 guest rooms, suites, and villas, including a health club, spa, salon, and pool; 14 food and beverage outlets; 106,000 square feet of retail space; 37,000 square feet of meeting and convention space; and performance lake and floral art displays. Its Wynn Macau segment operates 252,000 square feet of casino space with 322 table games, 838 slot machines, private gaming salons, sky casinos, and a poker room; two luxury hotel with 1,010 guest rooms and suites that include two health clubs, two spas, a salon, and a pool; 12 food and beverage outlets; 59,000 square feet of retail space; 31,000 square feet of meeting and convention space; and Chinese zodiac-inspired ceiling attractions. The company's Las Vegas Operations ... The company was founded in 2002 and is based in Las Vegas,
Yahoo Summary-PENN			Yahoo Summary-WYNN
#1 - The Golden Rules of Covered Call Writing!
The Golden Rules of Covered Call Writing are subjective ... the basic idea is to avoid as much risk as possible when determining a new stock purchase for a Covered Call Write ... we can not avoid risk entirely but using certain rules or guidelines will help use reduce that risk during the timeframe we use the stock for selling premium. I've included the most popular rules or guidelines below which include: avoid a company's earnings report, is the company apart of the S&P 500 or Dow Jones?. Does the company have a dividend? Does the company have same store sales reports? Do you want to own the stock? > This list isn't the end all be all list but a starter list for your research and lowering your risk ... but again, we can not avoid risk .
Penn National Gaming, Inc.			Wynn Resorts, Limited
S&P 500?	OPTIONS?	DIVIDEND?	S&P 500?	OPTIONS?	DIVIDEND?
Confirm	Option Chain-PENN	Verify-PENN	Confirm	Option Chain-WYNN	Verify-WYNN
Seeing the World Thru my Eyes - the Straight Talk
When COVID hit WYNN was paying a VERY healthy $3 annual dividend ... with COVID shutting down all of the casino's WYNN had to cancel its dividend (just like Las Vegas Sands) to preserve cash ... makes perfect sense and good business sense ... but for me holding this stock ... would love the dividend ... PENN doesn't offer a dividend and looks like they have never ... WYNN is apart of the S&P 500 which if I had to make a decision ...gives WYNN the edge here.
#2 - What story is the chart telling us?
When buying stocks to Write Covered Calls the prime objective is for the stock to trade sideways to higher ... selling premium traders will purchase a stock and sell the Out of the Money strike to collect both the premium and the stock appreciation. I always like to look at a chart and ask the question "what story is this chart telling me?" ... if its trending higher, this is good. If its trending lower, well, I really need to do my research if I'm going to invest in a company that its stock is trending lower.
See Support-PENN			See Support-WYNN
Seeing the World Thru my Eyes - the Straight Talk
Easy win here for PENN as its stock as ROCKETED HIGHER after the deal with Barstool ... WYNN has fallen hard with China and Vegas profits being slashed ... PENN is catching a HUGE buying wave as its a popular stock on the app Robinhood for options players too and CNBC keeps mentioning it because it's always trending on the internet ... so what's good today might not be good tomorrow but for now, PENN's chart is telling me a better story.
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#3 - What are "THEY" saying?
I'm not an expert when it comes to whether a stock is undervalued or overvalued or if its a Buy or a Sell ... so I use some great websites to 'paint a picture' for me. Some will have a stock as a Buy and another will have it as a Sell ... so I usually have 3 or 4 different sources to help me.
Penn National Gaming, Inc.			Wynn Resorts, Limited
Zacks	Yahoo Prem	AmBull	Zacks	Yahoo Prem	AmBull
BUY	UNDERVALUED	STAY LONG	SELL	OVERVALUED	STAY LONG
Corfirm Rating - PENN	Yahoo Summary-PENN	Trending? -PENN	Corfirm Rating - WYNN	Yahoo Summary-WYNN	Trending? -WYNN
Seeing the World Thru my Eyes - the Straight Talk
No surprise here ... PENN's story is one that Wall Street likes and with its balance sheet being strong ... they are getting Zacks BUY ratings whereas WYNN and Las Vegas Sands are getting SELL rating due to its China exposure. PENN Wins this one too
#4 - SHOW ME THE MONEY!
Another great visual when quickly trying to determine if this/these are companies we want to own ... remember, we have to own these companies and if the picture isn't telling us a clear picture of a companies prospects then I have to make sure I really do my homework.
Yahoo Summary-PENN			Yahoo Summary-WYNN
Seeing the World Thru my Eyes - the Straight Talk
Looking into the financials for these 2 companies you find that PENN isn't that far behind WYNN ... and from the articles I read, PENN's balance sheet is cleaner right now ... WYNN is struggling with China traffic to its casino's and the ever changing moving targets of the China regulations there ... Vegas is picking up for them but right now, PENN seems to have a better short term outlook as 95% of its casinos are online ... PENN again Wins this one
#5 - What kind of Covered Call profits can we make?
Giving someone the right but not the obligation to take your shares can be very profitable if done correctly ... typically most Covered Call writers will try to make 3% Cash on Cash profit in a 30 day period. Mastering this skill of selling premium can increase your annual returns vs a buy and hold investment strategy. Below is a (1) deviation Out of the Money Covered Call that one might do if they sell premium.
Looking at a 30 day window using (3) deviationS Out of the Money
	THESE ARE NOT REAL TIME! CLICK LINK BELOW FOR THAT			POSTED >	6/9/2020
PENN	Current Price	Strike Price	LAST TRADE	30 day return	Expiration
	$55.14	$56.00	$4.35	9.45%	5/29/2020
	$55.14	$57.00	$4.00	10.63%	5/29/2020
	$55.14	$58.00	$2.40	9.54%	5/29/2020
			THIS IS NOT THE BID OR MID
Check this stocks options here >		https://finance.yahoo.com/quote/PENN/options?p=PENN
	THESE ARE NOT REAL TIME! CLICK LINK BELOW FOR THAT
WYNN	Current Price	Strike Price	LAST TRADE	30 day return	Expiration
	$86.52	$87.50	$5.85	7.89%	5/29/2020
	$86.52	$88.00	$6.20	8.88%	5/29/2020
	$86.52	$88.50	$4.85	7.89%	5/29/2020
			THIS IS NOT THE BID OR MID
Check this stocks options here >		https://finance.yahoo.com/quote/WYNN/options?p=WYNN
Seeing the World Thru my Eyes - the Straight Talk
WOW! After looking at these 2 companies options I would have never thought PENN was such a 30 day covered call producer (CashonCash%) ... BOTH get points here as they both pay what I would expect for the risk and volatility
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#7 - "HURRY HURRY, READ ALL ABOUT IT!"
The internet has so many resources for good information on companies ... whether its news, events or just some blogger with a great perspective on a company's prospects ... I love just glancing at the news feeds to get a feel for what's going on with a company I'm researching ... below are some helpful jump links I use.
Seeking Alpha		DivChannel	Seeking Alpha		DivChannel
Alpha Articles Search-PENN		Verify-PENN	Alpha Articles Search-WYNN		Verify-WYNN
MY WINNER IS!!!
	PENN	vs		WYNN
	SCORE		SCORE
	5		3
Seeing the World Thru my Eyes - the Straight Talk Recap!
In a surpise victory that I didn't see coming ... PENN NATIONAL GAMING (PENN) takes down Wynn Resorts (WYNN) for what I beleive is a better stock to use for Covered Call Writing during this timeframe (Aug/Sep2020) now what's good today might not be good tomorrow ... but for now, the news out of the PENN camp is compelling and it has Wall Street buzzing ... I will post the recent article on the Barstool merger below ... WYNN isn't in that bad of shape if you ask me ... in fact, I think if anything its trading more near FAIRVALUED for what's happening with its business ... and should this economy turn Vegas and China casino's will fill up putting the casino giants (WYNN/LVS) back in the lead ... Billions of dollars will flow and *probably* so will WYNN's stock price.
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The BONUS Deeper Dive!
#8 - More number that help us Up Our Game!
I'm not an expert when it comes to whether a stock is undervalued or overvalued or if its a Buy or a Sell ... so I use some great websites to 'paint a picture' for me. Some will have a stock as a Buy and another will have it as a Sell ... so I usually have 3 or 4 different sources to help me.
FFTY	ST50	S&P 500	FFTY	ST50	S&P 500
					YES
Does either of these companies have Earnings Report (next 30 days)
April 16, 2020		-		May 16, 2020
~	Oct 29, 2020 - Nov 02, 2020		~	Nov 04, 2020 - Nov 09, 2020
Verify-PENN			Verify-WYNN
Dividend 2%	EX-DATE	Ave Vol	Dividend 2%	EX-DATE	Ave Vol
0.00%	-	11.398M	0.00%	-	5.489M
Verify-PENN			Verify-WYNN
What story is the chart telling you?
StockCharts	Finviz	BarCharts	StockCharts	Finviz	BarCharts
View Chart-PENN	See Support-PENN	View Chart-PENN	View Chart-WYNN	See Support-WYNN	View Chart-WYNN
I hope you enjoyed this Covered Call Stock Showdown blog ... as always you know this is for entertainment and before EVER investing a nickel of your hard earned money you need to do your research or what they call due diligence ... no, nada, zip zilcho stock recommendations were made here ... this ALL should be your STARTING POINT for determining if either of these companies meet your stock investing risk profile. Good luck everyone!
Disclaimer - Yes - at the time of this posting I do have a position in this equity. By posting this I am by no means recommending this equity and am not front running for its performance. I have risked my own money and am accountable for the trade results.
Remember, the content of this site is for informational and educational purposes only. If you invest using information contained here, do so at your own risk. Please read the full disclaimer posted below and visit cptdashboard.com for my privacy policy.
Trading stocks and options have risk. Required reading prior to placing money at risk with options is the ODD which is posted below. "The Characteristics & Risks of Standardized Options" Prior to buying or selling an option, investors must read a copy of the Characteristics & Risks of Standardized Options, also known as the options disclosure document (ODD). It explains the characteristics and risks of exchange traded options.
- http://www.optionsclearing.com/about/publications/publication-listing.jsp
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Topics I discussion range from:
Using stocks to Write Covered Calls
The Covered Call Investment strategy
Using Covered Calls to earn money
Explaining the Covered Call strategy
Selling Covered Calls
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CREDIT - How and Why to Use a Covered Call Option Strategy
BY ADAM MILTON
Updated July 29, 2019 > https://www.thebalance.com/determining-intrinsic-value-1031125
A covered call is an options strategy involves trades in both the underlying stock and an options contract. The trader buys (or already owns) the underlying stock. They will then sell call options for the same number (or less) of share held and then wait for the options contract to be exercised or to expire.
Exercising the Options Contract
If the options contract is exercised (at any time for US options, and at expiration for European options) the trader will sell the stock at the strike price, and if the options contract is not exercised the trader will keep the stock.
For a covered call, the call that is sold is typically out of the money (OTM). This allows for profit to be made on both the options contract sale and the stock if the stock price stays below the strike price of the OTM option. If you believe the stock price is going to drop, but you still want to maintain your stock position, for the time being, you can sell an in the money call option (ITM).
For this, you will receive a higher premium from the buyer of your call option, but the stock must fall below the ITM option strike price, otherwise, the buyer of your option will be entitled to receive your shares if the share price is above the option's strike price at expiration (you lose your share position). Covered call writing is typically used by investors and longer-term traders, and is rarely used by day traders.
How to Create a Covered Call Trade
Purchase a stock, and only buy it in lots of 100 shares.
Sell a call contract for every 100 shares of stock you own. One call contract represents 100 shares of stock. If you own 500 shares of stock, you can sell up to 5 call contracts against that position. You can also sell less than 5 contracts, which means if the call options are exercised you won't have to relinquish all of your stock position. In this example, if you sell 3 contracts, and the price is above the strike price at expiration, 300 of your shares will be called away, but you will still have 200 remaining.
LEARN MORE
Wait for the call to be exercised or to expire. You are making money off the premium the buyer of the call option pays to you. If the premium is $0.10 per share, you make that full premium if the buyer holds the option until expiration and it is not exercised. You can buy back the option before expiry, but there is little reason to do so, and this isn't usually part of the strategy.
Risks and Rewards of the Covered Call Options Strategy
The risk of a covered call comes from holding the stock position, which could drop in price. Your maximum loss occurs if the stock goes to zero. Therefore, you would calculate your maximum loss per share as:
Maximum loss per share = (Stock entry price - $0) + Option premium received
For example, if you buy a stock at $9, and receive a $0.10 option premium on your sold call, your maximum loss is $8.90 per share. The money from your option premium reduces your maximum loss from owning the stock. The option premium income comes at a cost though, as it also limits your upside on the stock.
You can only profit on the stock up to the strike price of the options contracts you sold. Therefore, calculate your maximum profit as:
Maximum profit = (Strike price - stock entry price) + Option premium received
For example, if you buy a stock at $9, receive a $0.10 option premium from selling a $9.50 strike price call, then you maintain your stock position as long as the stock price stays below $9.50 at expiration. If the stock price moves to $10, you only profit up to $9.50, so your profit is $9.50 - $9.00 + $0.10 = $0.60.
If you sell an ITM call option, the underlying stock's price will need to fall below the call's strike price in order for you to maintain your shares. If this occurs, you will likely be facing a loss on your stock position, but you will still own your shares, and you will have received the premium to help offset the loss.
Final Word on the Covered Call Options Strategy
The main goal of the covered call is to collect income via option premiums by selling calls against a stock that you already own. Assuming the stock doesn't move above the strike price, you collect the premium and maintain your stock position (which can still profit up to the strike price).
Traders need to factor in commission when trading covered calls. If commissions will erase a significant portion of the premium received, then it isn't worthwhile to sell the option(s) and create a covered call.
Link can be accessed here > https://www.thebalance.com/determining-intrinsic-value-1031125