Options Brief: Las Vegas Sands (LVS)

By and Jun 4, 2010, 11:19 AM Author's Blog  

LVS – Las Vegas Sands Corp. – Earlier in the session the casino operator’s shares rallied more than 2.10% to an intraday high of $25.46, but as the morning progressed, Las Vegas Sands’ shares surrendered gains to stand 0.30% lower on the day at $24.85 as of 10:50 am (ET). Call buying observed on the stock during the past couple of trading days continued this morning with bullish investors positioning for share price appreciation and a new 52-week high for LVS ahead of June expiration. Options traders purchased at least 8,800 calls at the June $26 strike for an average premium of $0.86 apiece within the first 90 minutes of the session. Call-buyers make money if, by expiration, LVS’s shares rally 8% from the current value of $24.85 to surpass both the current 52-week high of $26.56, and the average breakeven price of $26.86.

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