Put Options on MLCO on 7/9/2018

Melco Resorts & Entertainment Limited (MLCO) develops, owns, and operates casino gaming and entertainment casino resort facilities in Asia.

It owns and operates City of Dreams, an integrated casino resort that has approximately 475 gaming tables and approximately 670 gaming machines; approximately 1,400 hotel rooms and suites; a wet stage performance theater with approximately 2,000 seats; approximately 25 restaurants and bars, and 95 retail outlets; and recreation and leisure facilities, including health and fitness clubs, swimming pools, spa and salons, and banquet and meeting facilities.

The company also operates Altira Macau, a casino hotel, which has approximately 100 gaming tables and 119 gaming machines; 215 hotel rooms; various fine dining and casual restaurants, and recreation and leisure facilities; and various non-gaming amenities comprising spa, gymnasium, outdoor garden podium, and sky terrace lounge.

In addition, it operates Studio City, a cinematically-themed integrated entertainment, retail, and gaming resort that comprises 290 gaming tables and 970 gaming machines in Cotai, Macau. Further, the company owns and operates 8 Mocha Clubs with 1,319 gaming machines, as well as Taipa Square casino in Taipa Island, Macau. Additionally, it operates and manages City of Dreams Manila, a casino, hotel, retail, and entertainment integrated resort in the Entertainment City complex in Manila.

Shares have formed a bearish "flag" following reports of declining revenues. The decline is expected to continue. 

Last Trade: $25.00

52-Weeks Trading Range: $19.56 - $32.95

Trade Buy 1 July $25.00 Put at $0.70 For a net debit of $0.70 Profit/Loss Analysis Breakeven at $24.30 Maximum profit is unbounded Maximum loss is ($70.00) at strike of $25.00 Closing Summary Sold 1 July $25.00 Put at $0.00

Position closed on 8/17/2018 at price of $0.00 with a -100.00% loss in 39 days.

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