Las Vegas Sands (LVS) Call Buyer Lets It Ride

| March 26, 2013 | 0 Comments More

Las Vegas Sands (LVS) is up 71 cents to $55.23 today and testing early-Feb multi-month resistance highs after rallying 12.3 percent in a little more than a month. Recent options trades on the stock include a May 52.5 – 55 call spread, sold at $1.40, 6600X. 20,000 traded on the day and the flow appears to roll a position in May 52.5 calls (at 4.25) that was opened late-Feb (for 2.05), while opening new positions in the 55 strike. Shares are up nearly 11 percent since the May 52.5 calls were bought-to-open (see 2/22 color – LINK), resulting in a big win on the trade. By rolling to May 55 calls, the investor seems to be expressing additional confidence in the casino operator.

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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.