PENN

IAmtheCoffeeMachine

No because im seriously about to lose my mind. FUCK PENN YSTOCKS, FUCK THIS MARKET, FUCK CHPT, FUCK YOU READING THIS. What do you mean you reach expectation and still FUCKING DROP?????? FUCKKKK THIS AND FUCKKKK YOU ALLL

coronadan81

How do you not average down when it was under $1. I spend $12,000 averaging down on PENN so hopefully one day I can dump it right before it goes to $100/share

JoshGordon10

Add WYNN and PENN (casinos) to the list. Lower tier for online gambling, luxury industry will get hit by reduced discretionary spending, and outsized reliance compared to peers on Canadian tourism.

xconnor759

Where’s the $PENN of this crash? Remember COVID it fell to $3 then rocketed 100+

Franvisco_d_Anconia

The guy even managed to bankrupt casinos? If you’re so smart at running gabbling why don’t you take over PENN? Their stock hasn’t gone anywhere

conclabv

DKNG beat earnings so calls on PENN?

CardboardtheClown

PENN

DoubleFamous5751

Been buying PENN. chart looks great

DoubleFamous5751

PENN daily chart looking real sexy. Nice base it’s built and it’s holding at the top of the range. I’m in already and will likely add. As is tradition. PM pumps on earnings 

agiatezza

PENN stayed in a $.15 range today market hours

BallsOfStonk

MU is a decent bet here, but IV high. I like deregulation and degenerate plays, like PENN and DKNG. Big banks too. Honestly airlines look okay too, especially if Russian sanctions are lifted and oil dips to sub $60. Though would be hammered if recession creeps in. Oh also, if there is a BTC reserve, you should buy miners and or BTC etf leaps, but again sky high IV.

Ok-Geologist5545

Friend asks me if he should sell PENN to harvest tax losses two days ago, look at chart.  “It’s probably gonna go higher from here, don’t sell” Ask his costs basis. 81 🤡 I decide to buy, 8% return as of today. It’s all about perspective 😂 

Ok-Geologist5545

Okay, PENN is actually pull one of my favorite set ups right now. A pullback to the anchored VWAP from earnings. If it can hold above 20.50 then this is probably going for a larger move. Very nice looking chart actually 

notbutterface

From an investment perspective? You can't invest in Polymarket yet so I don't bother thinking of it. From a competition in sports betting perspective? Americans can't use it. Either way, this is a growing market in America, ESPN is a massive brand with a huge user base, the opportunities are there for PENN.

Capster11

I’ve been on PENN for the past 18 months. Got in around 25, picked up more as it fell below 14 after earnings in the spring and have traded it actively as it has slowly built an upward trend back up to 21. I don’t have much to add other than PENN doesn’t need to capture a huge chunk of the OSB (8-10%) market to become profitable in that segment while it’s brick and mortar continues to be a cash cow. The B&M is a slowly dying space but it will still exist even if not a lot of growth because people like going to the book and casinos. I don’t have a price target for a ceiling for PENN but I do think we are near a floor and that it isn’t unreasonable to see the stock double in the next 12-18 either through acquisition or multiple expansion because of rev and earnings growth. It could also stay stagnant and trade in a range bound for a while but the technicals are favorable in the short term.

coolhate18

PENN up BiGLY . Seems like 2020 actually.  Trump trading is bAck.

MrKushMeister

has anybody here looked at PENN lately

POOTERSS

finally that stupid treasury yield is going down. Remember how much it screwed people over in early March 2021? That's what killed the rally in the meme tech plays(FVRR, PENN, PTON, ETSY, NIO, bunch of other dead plays).

POOTERSS

finally that stupid treasury yield is going down. Remember how much it screwed people over in early March 2021? That's what killed the rally in the meme tech plays(FVRR, PENN, PTON, ETSY, NIO, bunch of other dead plays)

POOTERSS

I was around March 2020-March 2021 approximately, I remember March 2021 vividly all the memes blew up that month it was so ugly. Even with SPY going flat all the plays from that era died by mid-March. Names like FVRR, ETSY, PTON, NIO, TDOC, PENN, all blew up it was ugly

CFALongAgo

I have been trading options for decades, since they were traded via open outcry in the CBOE pits. My current covered call positions are: NVDA 131 for 10/11 NVDA 125.00 for 10/18 PENN 20.00 for 11/1 APPL 237.50 for 10/18 AAPL 232.5 for 10/11 MU 98 for 10/11 Be glad to explain CCs. You do make money when they are called away- the Call premiums you have earned which lower your basis each time you sell a call. You don't lose money when they are called away, you merely lose the opportunity profits of (price of mark-strike price). Hence, the strategy of short expiration dates. You may lose out on a bit of opportunity profits, but far less than with a long expiration date. And, as so many have pointed out here, then you turn the wheel, sell a Put and hope you pick up your old shares when they are put back to you. Clear enough for you? I am here to educate and to pass on my experience. Not to engage in a manhood contest. Be well. Trade smart. Be modest.

GoZukkYourself

Which one of you fat fingers PENN at $21 this morning? I know you are here somewhere.

WickedSensitiveCrew

PENN is paying for the ESPN name and still only getting about 2% market share. That panic on DKNG in August was such a great buying opportunity. Now ESPN Bet flopping is like fine print in articles and maybe even forgotten that was a FUD for the stock last month.

_doubleC

Yep. My first play was PENN puts in March 2020. Was a 200% in a day. It was over from there.

Federal_Ad_197

PENN-IS

sockalicious

Long PENN is?

someguy8282

I made 7k back in 6 months after losing 12k in spirit when Biden blocked the mergers. CC and CSP’s. I’ve chilled out a bit and I’ll make the 5k back once I figure out a company I’m willing to throw CSP’s behind. Most of my CSP’s were $PENN and $HOOD with the rare SPY call.

thezenunderground

Lol maybe..Id say over 80% of these giant money plays end up working when I check back up on them a month later. It probably insider trading on the DL Last one was PENN 20 strike, Sept expiration place when the stock was at 16.32..Its now at almost 19. Half a million in those calls

lipmanz

How do PENN DKNG and CZR all lose money? Do they need Ace Rothstein or what

barigamous

PENN up a nice 5% to start the day, lets see if it holds

Southwestern

Bought the absolute pandemic bottom in PENN and then sold it for an 80% gain at $9. Watched it run to $125 over the next few months. Being right once isn't enough.

Far_Sentence_5036

A few ideas in Europe and the US that are very beaten down stocks with optionality.. either just outright cheap or takeover targets: Hellofresh (HFG) which is a massive HF short but is now sub $1bn and down 90% from atm. Can see someone like walmart or catering companies buying the Factor ready meals business which is doing well. Company is net cash and doing buybacks. Burberry (BRBY) - one of the few luxury stocks not owned by LVMH or Kering. New designs from daniel lee should start to benefit group. Cheap valuation at 10xPE. Market hating on affordable luxury now. Ryanair (RYAAY) - has sold off 25% in recent months and remains close to 2019 levels. Continues to be the dominant low cost carrier in europe with signifcantly lower cost base than competitors. 10xPE is below long term average of 20x. Doing buybacks. Led by great CEO in MoL. Match Group ($MTCH) - owner of tinder, hinge etc. Very cheap and hated by market. Penn entertainment ($PENN) - traditional casino company and online gaming company. Online gaming is lossmaking given investments to scale ESPN bet and win new customers. long term optionality. Amex GBT $GBTG - Largest global corp travel company. small SPAC stock that market misunderstands. Recent acquisition of CWT is gamechanger. Corporate travel is recovering. Takeover target by Vista or thoma bravo. VFC Corp

Mental_Introduction8

$DKNG and $PENN are fun ones too - spreads arent as tight but they are on the cheaper end for how volatile they get esp with sports in full swing now DKNG has treated me super good this qtr

Flash_ina_pan

*Insert PENN is joke here*

Key-Chemistry7151

MCD and PENN calls offsetting my NVDA losses

StockRun123

I see what you see. PENN is ridiculously undervalue. And the news on buyout shows that.

Kilomike8993

PENN That whale trade before the news was nasty

MinuteEntrepreneur

PENN

ShakerIce

Seriously Ryan just buy PENN and PLAY. Best $4B ever spent 🤌🏼

mywilliswell95

PENN, , PT raised, insiders buying = -9% ON THE DAY FUCK YOU

Deadecigs

PENN looking good

Healthy_Station543

$PENN having a good day. Hopefully it can actually keep up this momentum.

Jumpy_Elevator_6603

How did a gambling sub miss PENN 

Not_A_Tater_Tot

Was so excited to see PENN up 20% to $17.50 ….. until I realize my c/a is $28 🫠

LordoftheEyez

I’ve been looking into taking a stake in the sports betting industry and this is such a great DD on PENN.. I also feel like they’re undervalued compared to their competition in an industry that I believe is just at its infancy.

Iwanteverything17

And hopefully PENN hits 17-18$ before June

Iwanteverything17

Tuesday open 400$, Tuesday close 70$, all in on PENN calls, hopefully I don’t have to get another job

Iwanteverything17

I went full port on PENN calls so it’s too late now

gaedikus

RBLX and PENN both are dogwater, i just keep watching them sink on the red end of my portfolio

Ironman_of_stonks

I still own these 3 but sold bynd and sklz. F*ck Cathie Wood, this women is evil and was employed by CEO's to rob newbie's in post Covid era PENN 57% Baba 35% Roku 80% BYND 70% loss and sold SKLZ 90% loss & sold

Ironman_of_stonks

I still own these 3 but sold bynd and sklz. F*ck Cathie Wood, this women is evil and was employed by CEO’s to rob newbie’s in post Covid era 😭😭😭 PENN 57% Baba 35% Roku 80% BYND 70% loss and sold SKLZ 90% loss & sold

notbutterface

PENN quietly up 6.56% today...

Thereal_AUXARC

PENN Anyone? Bueller??? Bueller??

Bloated_Plaid

> PENN left me when I ‘rolled’ to DKNG. Brother how the fuck is DKNG any better than PENN??

Smart-Weird

I only do CSP and #1 golden rule I learned hard way : 1. Only Sell Puts for the stock you are comfortable buying. Having said that, I have my horror stories with this stock called PENN which for me spells ‘pain’. I had to roll it for 2.5 years ITM 20 ( some divine force helped with no early assignment) . Only Fred understood my situation : https://youtu.be/RYnFIRc0k6E?feature=shared One thing I learned from this experience: A (crappy) tool like IBKR’s TWS only allows you to roll to same stock. However, you can close the position, take the loss and then offset it by selling CSP for better stock/option. Finally PENN left me when I ‘rolled’ to DKNG. Just wanted to share.

emoguynyc

Does anyone like PENN at this price?

FoolsGoldMouthpiece

PENN shat the bed today. Why you think DKNG will be different?

livingindxbhelp

PENN missed earnings. I guess they need to enable option gambling.

lNQUlSlDOR

Yessir, but with a different account now bc I’m bag holding PENN

Metacog_Drivel

PENN was once a $100 stock, LMAO. Also, remember somebody full porting 1 million into PTON when it was at $100. Wonder what ever happened to that guy?

bashk536

I’m thinking $PENN will dump and find bottom but $DKNG will rip. Lets see 👀

lNQUlSlDOR

Whatever’s left from this PENN play

lNQUlSlDOR

PENN earnings are before open and DKNG aftee close, I’ll be playing both 😁

Decent-Ad-4358

I was gonna go draftkings over them, Just scared that I don’t personally know anybody using ESPNBet, PENN earnings is gonna majorly hinge on how that platform is doing. Good luck though

gtbifmoney

In one of the worst months in a long time, I somehow managed to make money on every single call I bought. NKE, PENN, PARA, and PFE. Insane luck.

jusjones314

Buy strangles at or in-the-money on companies reporting earnings, expiring two weeks later, where the average volume is higher than 1M and IV is less than 100 and the expected move is large enough to keep IV crush from eating away at your gains too much. For instance this week I'm going to do PENN, the expected move is 10% so I'll buy 16.5P and 17C expiring 05/17, IV is about 80 on each, current price is 16.84. It'll cost 2.30-ish and I'll hold both options until one is worth 2x the entry cost.

CheeseheadRottweiler

PENN yikes

FG3000

PENN, the ESPN deal definitely tricked me into thinking this turd was gonna take off

gammatrade

The big loss comes when assigned stock continues to plummet. Like selling puts on AMC when it tanked. You can keep selling those calls forever but you won’t make it out. I run the wheel every week w a certain percentage of my portfolio but I’m doing on the opposite of what you’re doing because the premium to me has to be worth it for the capital requirements. I like PENN, ZIM, RUN, and RIOT at the moment and split up 10 percent amongst these. Jade lizards before earning as entries w some.

ThatDudeWA

Pray that Walmart shits the bed and PENN 🚀🚀🌒

lolcasinoapp

Puts on PENN and EVRI once I file this civil suit in the next two weeks for malicious prosecution and negligence. Giving a heads up here. Gonna make bank. If I can't win in the stock market, I will make money the American way. By suing 😎

ThatDudeWA

Praying to god that PENN goes up for my calls.

derpmcperpenstein

Calls on PENN

samuelj264

I don’t know much about it but PENN is one that comes to mind

Sometimes_Stutters

I bought $5k worth of $20 PENN calls back when it was like $4. Sold when PENN was at like $10 and made a nice profit. By the time my calls had matured the price of PENN was $120.

LanceX2

Its been a rollercoaster lol. I bought 50 shares of PENN in 2020 for 20 average and sold at 97 on 21. Made great money on CZR and MGM then too but now I index fund

ThunderArtifact

+168% 1 year to the day is shit to you? What’d you buy PENN or something and are salty now?

Starkfault

SPY bought $PENN at the literal top also 

Express_Camp_5777

It's much much lower. During a good year, one of the top options market makers in the world ([https://en.wikipedia.org/wiki/Susquehanna\_International\_Group](https://en.wikipedia.org/wiki/Susquehanna_International_Group)) only makes 750 million dollars in revenue. MGM resorts makes 12.9 billion a year, Wynn makes 3.7 billion a year, Ceasar's Entertainment makes 11.5 billion a year, and Las Vegas Sands makes 10.4 billion a year. DraftKings made 3.67 billion, and PENN made 6.5 billion. So technically you're playing a much fairer game against WallStreet than you are against casinos and sports gambling brokers.

uptownNola0308

Are these PENN positions worth sitting on any longer. I’m down aroune $600 on this and looking to cash out my positions and buy some more QQQ. I personally think tur espn bet app is crap compared to DK and others.

LanceX2

I started investing for the first time late march. turned 30K into close to 50K by end of year mostly off of CCL NCLH CZR PENN and MGM than I became an index investor lol. Had some tech flr awhile but sold for VGT

fragile9

People in Canada use theScore app to check scores, but dont use theScore Bet. The promos are very very bad compared to FanDuel, and they do much have selection when it comes to any Props play. Mind you, im invested in to $PENN because I had $SCR and $PENN bought them out, but I wish i would of sold my whole position during then.

jusjones314

I just started buying ONLY strangles for earnings about a month ago... This week I did: SFIX 4C/3P 04/05 x8 for 3.04 and it's worth 9.44. GPS 22.5C/18P 04/05 for 1.74 CPB 46/41 04/19 for 1.43 (it's down a bit but CPB lags behind at earnings then moves a few days later for some reason) Planning to enter AEO 26C/22P 04/19 for 2.11-2.25 Going back further: HOOD 13C/11P 02/23 at .98 sold for .95 😞 LYFT 14C/10P 02/23 at .97 sold for 5.11 PENN 25C/20P 02/23 at 1.21 sold for 2.68 I've yet to have a 100% loss and usually when I lose it's due to impatience and closing positions too early to chase other plays. Staying disciplined is the biggest part for me.

lonzo_nuts

I use ESPN Bet, and so do other people I know. Their UI isn’t as smooth as Fanduel, but it’s better than MGM/Caesars/Wynn. They offer some markets and parlay options that other books don’t have too. They also have the 3rd largest daily active user base behind Fanduel and DraftKings. They lost money on ESPN Bet because they had more people sign up than they expected, so their marketing expense was higher (bet $5 get $150 promo), in the long run I think that’s a good thing. They’re also supposed to launch a new espn app before the 2024 NFL season with fantasy/betting integrated. I don’t think the average consumer would know or care that they were once affiliated with Barstool. ESPN is a household name, and should help them gain users in new locations. About half of the US has not legalized online sports gambling, so the market is only going to get bigger. They have a lot of debt, but have been investing. I’m personally high on all of the online books (FLUT, DKNG, PENN) because the market is growing and people can use multiple books.

Red_or_Black1

My strategy has been bottom feeding on beat up stocks mostly small caps and swing trading, holding for long periods, weeks, months.. I like to trade popular tickers that have a lot of investor interest, good volume, arguably meme stocks. I take large positions when I feel comfortable and the stock is oversold. I have played tickers such as RIVN, CHWY, TOST, HOOD, SOFI, PENN, CLSK, HIMS. Patience is the key. I just wait it out and when I believe the bottom appears to be in I take position.

cbusoh66

Keep SQ, dump SOFI, it is trash. I Know nothing about PENN.

bionic1930

Yes. SOFI is doing something. From a quick glance at PENN, that’s some shit erratic performance. And SQ had an all time highs during free covid money. Hand it’s last Q wasn’t much to celebrate yet it’s relatively close to ttm highs.

LongishBull

PENN is gonna run. Hit a bottom earlier in the week. Big money is loading up at a .5 P/S with IWM due for a boom .

Metacog_Drivel

PENN is such a piece of shit, holy hell

lipmanz

Anybody else see how ESPN Bets is all over their webpage? I guess I’m buying a bunch of PENN tomorrow

notbutterface

All KPI’s mentioned in the call and release point to an insanely strong future for PENN. The model they are building will work, it’s just a question of when the inflection hits. They’re thinking later this year and 2025 we will see breakeven.

Hot_Diamond9372

Fuck portnoy what he did to $PENN

Master_Awareness5821

OP I read your post a few months back about PENN and I’ve been bullish on it. Earnings clobbered my calls expiring in June but I still have some hope. What are your thoughts on PENN rn post earnings?? I might just average down on my calls but idk if it’s worth it.

Expired-Option

DKNG missed on revenue, EPS might be higher but that never matters They’re buying a lottery app for 750 million in a half cash/stock offer Given how the rest of gambling stocks have done it looks like she’s headed for the same direction as PENN

zholo

Probably a good play.  I read the DD about how PENN was going to crush from a some other guy who had charts and graphs and sounds like he was talking about.  PENN shit the bed.

JKRUOK

PENN has me worried about my DKNG calls

WickedSensitiveCrew

PENN down 14% on its earnings. They are the company tied to ESPN Bet. DKNG reports in AH.

Glittering-Aside-242

2 Huge casinos (MGM & PENN) get crushed after reporting earnings. ​ Interesting to see how DKNG stock price reacts to earnings release after today to take some of that lost MKT share with CZR reporting next week. If DKNG lags, Im expecting a HUGE uptick on CZR next week!!! ​ BULL $CZR!!!

DatSnuffleupagus

PENN scared them

Fox_Technicals

"sell me this $PENN"