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Andrew Keene's MGM Resorts International Trade

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On CNBC's Trading Nation, Andrew Keene recommended a long position in MGM Resorts International (NYSE: MGM). He said the stock is trading close to its resistance, but he expects it to break above the resistance and reach $35.

Keene is bullish on MGM Resorts International, because he noticed a big call options activity. He wants to initiate a long position by purchasing the June 30/35 call spread for $1.50. The trade breaks even at $31.50 or 7.40 percent higher and it can maximally make a profit of $3.50.

 

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Posted-In: Andrew Keene CNBC Trading NationOptions Markets Media

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