Options Strategist Discusses Activity In Gilead And Wynn Ahead Of Earnings

Benzinga spoke with TD Ameritrade Chief Strategist JJ Kinahan on Tuesday. He discussed options activity ahead of earnings in Gilead Sciences, Inc. GILD and Wynn Resorts, Limited WYNN, which are reporting financial results after the market closes on Tuesday and Wednesday, respectively.

Gilead Sciences

Gilead is “one of those stocks that used to trade a lot” of options, but doesn’t trade so much any more. However, on Tuesday options activity picked up and the stock showed a 5.25 percent move priced in.

Related Link: Wall Street's Best Think Gilead Will Continue To Outperform The Market

The firm saw a buyer of the August $126 call on Tuesday morning, and two times the normal amount of calls trading there.

Wynn Resorts

Regarding Wynn, Kinahan said, “this was a darling, and a lot of fun to trade for a while.”

The expert noted that there’s almost a 7 percent move priced in the stock. Moreover, implied volatility is at the 100^th percentile – and it’s been there all year long.

However, there’s nothing else that’s particularly interesting about this company right now from an options trading standpoint.