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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Andrew Wilkinson is the senior market analyst at Interactive Brokers Group, where he provides daily commentary and analysis on U.S. equity options trading throughout the trading day. Andrew provides webinars designed to explain option-related trading scenarios covering futures, fixed income, forex and equities.
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