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OPTIONS ACTION GALLERY

Upside Call 20 Nov 2009
Options vs. stocks, and Chevron rallies 14 percent, but the options trade is multiples higher, with CNBC's Melissa Lee and the Options Action traders.

In the Money Now

20 Nov 2009

The S&P hits key technical levels, so the traders look at what will take stocks higher. Also, with tech and financials seeming to fade, could the consumer take up the slack, with CNBC's Melissa Lee.

Options Action Web Extra 13 Nov 2009
The Options Action traders answer viewer mail, with CNBC's Melissa Lee.

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Doubling Down?

Published: Thursday, 29 Oct 2009 | 3:37 PM ET

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By: Maxwell Meyers
Senior Producer

Are options traders doubling down on Las Vegas Sands [LVS Loading... () ] 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:

Topics:Earnings | Stock Options

Companies:Las Vegas Sands Corp.

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