Las Vegas Sands (LVS) is down $1.64 to $14.42 and falling in sympathy with Wynn Resorts (WYNN). Wynn shares sank after the company’s third quarter results easily beat Street estimates, but the results at its Macau operations were apparently not as strong as some investors had hoped. WYNN is down $6.89 to $56.22. LVS, which releases results Thursday after market, is taking a hit as well and recent trades include 5000 Dec 12 put – Dec 17.5 call risk-reversals. It looks like the strategist came out even to buy puts, sell calls. 58K calls and 40K puts traded total. Meanwhile, implied volatility (average) is heading up to 78, from about 70.3 late Monday, as investors brace for the casino operator’s earnings release.