LVS – Las Vegas Sands Corp. – Casino resort operator, Las Vegas Sands Corp., attracted near-term bullish options traders once again with shares of the underlying stock up 3.85% at $24.88 just after 12:25 pm (ET). Earlier in the session LVS shares rallied more than 4.20% to touch an intraday high of $24.97. Investors itching for continued upward momentum in Las Vegas Sands’ share price picked up 5,600 calls at the June $25 strike for an average premium of $0.77 apiece. Call buyers at this strike price make money as long as shares surpass the average breakeven price of $25.77 by June expiration. Buying interest spread to the higher June $26 strike where more than 3,000 calls were coveted at an average premium of $0.39 per contract. Higher-strike call buyers stand ready to accrue profits should shares of the casino operator increase 5.7% from today’s high of $24.97 to exceed the average breakeven point to the upside at $26.39 by expiration day.
Affiliation: Interactive Brokers
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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