Las Vegas Sands Corp (LVS) is a developer of casino and gaming resort properties in the U.S. and Asia. The company’s stock is currently trading around $69.60 in a 52 week range of $40.28-$70.62. The stock has rallied over 50% year to date and over 55% in the past 12 months. Today’s options activity in LVS suggests that the stock might have more room to run. Earlier in today’s session a trader bought 30,000 LVS Nov 72.5 calls for $1.44 indicating this trader believes LVS will continue to head higher through November expiration. This block of calls also represents volume 3.2 times the average option volume in LVS. This trade will also add to bullish sentiment in LVS with a current open interest put/call ratio of 0.74. LVS also reported better than expected earnings today after the close sending the stock higher. We believe that these conditions are lining up well for a long term trade in LVS.
Trade: Buying the LVS Mar 65 Call for $8.40
Risk: $840 per 1 lot
Reward: Unlimited
Breakeven: $73.40
