Hospitality and gaming stocks have been shellacked. I am likely catching the falling knife here, but I am going long MGM by selling rich puts. Revenues are going to be down. The question is for how long? COVID-19 is a real problem, but will likely be under control within six months and a vaccine will be likely within 18 months or less. This seems like a decent spot to begin building a large position.
Sold Apr 17 Put for a credit of 1.80.