LVS – Las Vegas Sands Corp. – The owner and operator of casino resorts attracted optimistic options investors today with the value of its shares increasing 1.6% during the first half of the session to touch an intraday high of $28.85. Bulls expecting Las Vegas Sands’ shares to continue to rally ahead of August expiration purchased roughly 3,900 in-the-money calls at the August $28 strike for an average premium of $1.03 per contract. Call buyers are prepared to make money should the price of the underlying stock rally above the average breakeven price of $29.03 by expiration day. LVS shares last traded above $29.03 on August 5, 2010, when the stock reached its current 52-week high of $29.50.
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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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