GO
Loading...

Jon Najarian Is Betting on Casino Stocks

Thursday, 8 Dec 2011 | 7:20 PM ET

Trader Jon Najarian on Thursday said he’s betting on casino stocks, especially Las Vegas Sands . The Las Vegas-based company owns and operates casinos and resorts in the United States, Macau and Singapore.

“I love this stock . Love the upside potential for both Singapore and Macau,” said Najarian, co-founder of OptionMONSTER.com. “I would use sell-offs like this to load up on more.”

LVS has a double bottom at the $37.50 level, Najarian said. So he would buy shares should it fall to the $40 level, but as with all of his trades, Najarian recommends using options. He said an options strategy allows the investor to hold onto the stock longer, especially when the market gets volatile.

Mike Khouw of Cantor Fitzgerald noted the gaming are highly levered, so any bad news will hit them hard. That being said, he agreed with Najarian that options is the best way to express a bullish view. There was heavy trading of near-dated, upside calls in LVS Thursday.

______________________________________________________
Got something to to say? Send us an e-mail at fastmoney-web@cnbc.com and your comment might be posted on the Rapid Recap. If you'd prefer to make a comment, but not have it published on our Web site, send those e-mails to fastmoney@cnbc.com.

CNBC.com with wires.

  Price   Change %Change
LVS
---

Featured

Contact Fast Money

  • Showtimes

    Halftime Report - Weekdays 12p ET
    Fast Money - Weekdays 5p ET
  • Melissa Lee is the host of CNBC's “Fast Money” and “Options Action.”

  • Scott Wapner is host of the "Fast Money Halftime Report," which airs weekdays from 12 p.m. to 1 p.m. ET.

  • Guy Adami is a contributor on CNBC's "Fast Money." He also is managing director of stockMONSTER.com.

  • Najarian, the "Pit Boss," is cofounder of optionMONSTER.com, a news site for options traders.

  • Finerman is president of Metropolitan Capital Advisors, Inc., a company she co-founded.

  • Founder of EmergingMoney.com

  • Chief Market Strategist for Virtus Investment Partners & CNBC Contributor

Halftime Report