if you look at the details of the deal, what it says is macau's business -- wynn's macau business is 7.4 billion 37 so what's that mean for the rest of the company? it's being valued at a little bit more than 4 billion. okay. that's not quite as undervalued as when i was recommending the stock in july. but i think wynn's macau business will end up worth even more after this huge andpot hotly anticipated ipo. which was the talk of the whole world today. and it will send prices of the parent company higher. get this. it is possible, and i've seen this happen only a couple other times. i saw it with palm once. it'll it is possible we'll see the macau portion of wynn be worth more than all of wynn itself. that's the tail bringing up the doing. we want to oent dog. here's the bottom line. i don't think you should try to get in the wynn macau. i want you to stay in wynn, wnn. i think this will probably stay great play, at least until las vegas sands starts diluting the market it its own macau ipo. you won't win because of me. you bought 39 because of me. ring the register a little. you wan

. given the situation in macau, they have that straightened out, shooting for, that 52-week high. >> time for "called out." it's the losers that can be the most instructive. dan recommended a put spread in palm. that trade didn't work out so well. he put the trade on once again but the pain is still in the palm of his hand. >>> just because we're risking less to make more doesn't mean we'll always come out ahead. case in point, dan's put spread on palm. >> i want to buy the november 14-9 put spread. >> they're betting the stock will go lower and they're willing to cap their profits in exchange for reducing their cost. how does it work? let's take a look at dan's trade. dan thought palm's stock would trade lower but a simple short sale wouldn't do. >> i wouldn't short this stock. i still wouldn't short the stock. >> so instead, dan paid $2.40 for the november 14 strike put. now he makes money if palm falls below $14. but to complete his put spread, dan then sold the november 9 strike put and collected 70 cents. if dan thought palm was heading lower, why would he sell that 9 strike put

resorts raised more than a billion and a half dollars in an offering for its casino and resort in macau. the stock begins trading in hong kong on thursday. september has been busy for new public offerings. after a drought in the i.p.o. market due to the recession. so is this the beginning of a gusher of newly public companies? scott gurvey reports. >> reporter: with the market rally, it was only a matter of time before the green shoots of initial public offerings sprouted. after seven months of a virtual shut down in the ipo market, the number of new issues has been rising, although it remains well below last year's levels. last week, a123 systems went public on the nasdaq. this company makes batteries for electric cars, an industry targeted for funding in the economic stimulus package. investors have already bid its stock price up by 50%. but david menlow of ipo financial network worries they are being too speculative. >> the big trap for investors are gonna be those companies that come into the marketplace as a result of any stimulus spending that is coming around the corner, next wee

vegas sands and wynn are really the two best names in this space because they have great exposure to macau and they have come a long way. but remember, las vegas sands is still well below its 52-week low. >> i always stay at the wynn. that's my premier place in las vegas. >> that's because they're comping you. >> now they should comp you for sure. >> please. >> if i got comped, i'd stay there too. >> but sands is a much more attractive price. a lot more up side potential. >> all right, scott, thanks so much grour time. i'll see you later on. "options action." of course don't forget to catch scott and myself on "options action" at its new time, 8:30 p.m. eastern time on cnbc. okay. the flifrs anniversary of lehman brothers' collapse just a few days away. the impact rippled through and affected traders on this desk tonight. tonight we hear joe terranova's lessons from lehman. >> some of the biggest names in american business are tonight gone along with a lot of money and a lot of jobs. >> never before had the actual model of the financial markets themselves come into question. the credit mar

. >> macau offers a lot more. what joe said cutting some of the tax rates on the casino operators.here melco international. we've talked about it. this is stanley hoe's son. they sprout another blossom in the gaming world. >> and have a lot of extra cash. >> used that because his doctor's name is pansy? >> i didn't want to do that but i guess it was led there in my own mand. >> and do you see last night shuffle master. 80% profit. this stock is here in the 52-week highs. are there names that are working that are on the downside of this whole trade. >> right. let's trade the globe. >> let's do it. >> let's into it. globe. >> globe. >> we've been talking a lot about china in all of its growth figures. and certainly that is a big reason why we've seen a huge run-up in the fxi, the ecf. the track. the shanghai exchange but can we believe the data that comes out kriechbt? we should note according to joseph malcolm. china's stats are based on recorded production which differs from u.s. stocks which are based on exports and actualing spending figures by consumaries and governments. we dug