Las Vegas Sands (LVS) is up $1.45 to $46.83 in active trading of 8.5 million shares after Deutsche Bank raised its Price Target on the stock to $52 from $42. Players in the options market are betting on the casino-operator as well. 67,000 calls and 24,000 puts traded on the stock. December 48 calls, which are now 2.5 percent OTM and expiring in 14 weeks, are the most actives. 8,900 contracts changed hands vs. 1,542 in open interest. Some of the activity is perhaps rolling out of in-the-money Dec 45 calls, which have traded 7,605 contracts against 9,965 in open interest. Weekly 47 calls are the third most actives. The contract is 16 cents OTM heading into the expiration and the market is 11 to 14 cents. 4,930 contract traded vs. 665 in open interest. Sep 48 calls, Weekly 47 puts, Jan 48 calls, Sep 45 calls and Sep 49 calls on LVS are actively traded as well and implied volatiity in the options on the stock is moving up 6 percent to 32.5.
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.