MGM Resorts International MGM Stock & Option Trade Ideas

Based on the technical data for MGM, the stock is currently in a bearish trend. Here is a breakdown of the data:

MACD: The MACD line is below the Signal line, indicating a bearish signal.

Bollinger Bands: The price is below the middle band, also suggesting a bearish trend.

RSI: The RSI is below 50, indicating bearish momentum.

Volume: The trading volume has been relatively high, which can be a sign of increased selling pressure.

Price: The current stock price is below the moving averages, confirming the bearish outlook.

Given these indicators, here are some potential trading strategies for MGM:

Stock Trade:

• Consider short-selling MGM or buying put options to profit from a further decline in the stock price.
• Set a stop-loss order to limit potential losses if the stock price reverses its trend.

Option Trade:

• Buy long-dated put options with a strike price slightly below the current price to benefit from a potential downward move in the stock.
• Alternatively, consider selling covered calls if you already own the stock to generate income while waiting for the stock price to stabilize.