Las Vegas Sands (LVS) launched higher to start the New Year after UBS upgraded the stock to Buy yesterday, saying Macau revenue growth is likely to reach 18 percent in 2010. Today, Reuters reports that Macua casino stocks moved broadly higher in Asia on reports December revenues in the enclave rose 48 percent year-over-year, which signals sustained growth in the world’s biggest gambling market — link to story. LVS is up another $1.26 to $17.88 and now, in less than two trading days, up nearly 20 percent year-to-date. In the options, another 49K LVS calls and 17K puts changed hands Tuesday, with some traders placing their bets on LVS Feb 18, 19, and 20 calls. Jan 17.5 call options are the most actives.
About the Author (Author Profile)
Frederic Ruffy is a well-known trader, writer, and strategist who has spent years educating investors and creating intelligent, insightful, unbiased market observations that are frequently cited by the Wall Street Journal and other financial publications. As senior analyst, Fred provides frequent and regular notes and daily updates for activity of interest.