Las Vegas Sands (LVS) sees relative strength and increasing implied volatility after Bernstein raised their price target on the stock to $24 from $22 Monday morning. Shares are leading the gaming sector higher (WYNN, MGM, BYD also up). Meanwhile, LVS options volume is running 2X the average daily, with 77K calls and 41K puts traded so far. Investors are placing their bets on April 21 and 22.5 call options, with 24.3K and 14.5K traded, respectively. Implied volatility is up about 6 percent to 54.
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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.