GO
Loading...

Doubling Down?

Are options traders doubling down on Las Vegas Sands ahead of earnings?

That appears to be the case with today's action.

There was heavy call buying along a number of strikes in the November expiry, as well as a notable trade at the January 20-strike, where one investor bought over 11,000 calls.

Like a gambler down to their last chips, options traders are betting that the stock's recent pullback from $17 was a temporary cold streak, perhaps in sympathy with Wynn Resorts, which also fell following some disappointing results.

Still, concerns abound over Las Vegas Sands' ability to raise capital through its expected Macau IPO. "Wynn Macao's poor showing in Hong Kong since its own offering will weigh on LVS. The Wynn Macao deal originally came in at $10.08 hk and is now trading for $9.10," said Dan Nathan, Options Action star and options king at Phoenix Partners.

Questions, comments send them to us at: optionsaction@cnbc.com

Contact Options Action

  • Showtimes

    Fridays, 5:30p ET
    Saturday, 6a ET
    Sunday, 6a ET
  • Melissa Lee is the host of CNBC's “Fast Money” and “Options Action.”

Latest Video

Options Action Daily Reports

Sponsored Related Links

More on thinkorswim by TD Ameritrade

  • Make sure you’re always keeping up with the market with up-to-the-minute news and breaking stories. Move on possible breakout stocks and options with potential opportunity. Plus, get in-depth analysis on futures and forex in one seamless, integrated experience. Join TD Ameritrade and trade commission-free for 60 days + get up to $600 cash.

You Make the Call

  • Mike Khouw, Options Action trader, shares his view on News Corp stock on the heels of testimony from Rupert Murdoch before British Parliament.

  • Do you have a question for the Options Action team? Options Action selects a viewer's question and gives the answer on the show's Make The Call Web Extra video.