RRR Forecast + Trading Strategies


Bullish Case: Increased call volume signals investor confidence aligning with historical growth. Implied volatility indicates a potential upward movement, bolstered by recent positive earnings outlooks, suggesting RRR could surpass $65 soon.


Bearish Case: High levels of implied volatility reflect market anxiety around potential earnings misses. Insider selling raises concerns about continued support, positioning RRR to struggle to maintain current levels, possibly falling below $55.


Potential Outcomes:

1. Earnings beat forecasts: 40% chance.

2. Continued insider selling drives a downturn: 20% chance.

3. Price stabilization around $60: 30% chance.

4. Market volatility mispricing affects options: 10% chance.


Trading Oracle: Consider initiating a bullish long vertical spread by buying 1 $60 call (implied volatility: 34.9) and selling 1 $65 call. This positions for potential upside with manageable risk, leveraging projected volatility and high volume.


July 24, 2024


Red Rock Resorts Forecast

RRR      Red Rock Resorts











Correlated Assets

Assets that tend to move strongly with RRR



FROG Forecast + Options Trading Strategies   FROG  JFrog (0.93)


MAS Forecast + Options Trading Strategies   MAS  Masco (0.92)


CG Forecast + Options Trading Strategies   CG  Carlyle (0.92)


IBM Forecast + Options Trading Strategies   IBM  International Business Machines (0.91)


UBER Forecast + Options Trading Strategies   UBER  Uber (0.91)



Uncorrelated Assets

Assets with little price relationship to RRR



ARKG Forecast + Options Trading Strategies   ARKG  ARK Investment Management LLC - ARK Genomic Revolution (-0.0)


RHI Forecast + Options Trading Strategies   RHI  Robert Half International (0.0)


INCY Forecast + Options Trading Strategies   INCY  Incyte (-0.01)


AI Forecast + Options Trading Strategies   AI  C3.ai (-0.01)


NOC Forecast + Options Trading Strategies   NOC  Northrop Grumman (0.01)



Anticorrelated Assets

Assets that tend to move strongly against RRR



RWM Forecast + Options Trading Strategies   RWM  ProShares Trust - ProShares Short Russell2000 (-0.82)


EQNR Forecast + Options Trading Strategies   EQNR  Equinor ASA - (-0.84)


DXD Forecast + Options Trading Strategies   DXD  ProShares UltraShort Dow30 (-0.85)


SARK Forecast + Options Trading Strategies   SARK  Tuttle Capital Short Innovation (-0.87)


BOIL Forecast + Options Trading Strategies   BOIL  ProShares Ultra Bloomberg Natural Gas (-0.88)





Become a more profitable investor with AI optimized trading strategies






×

Chat with RRR


 Ask any question about RRR!