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Buy Call LVS

November 30, 2022
Sell a Third of Existing Position: Sell a Third of your LVS March 44 Calls for $6.20 or more.

Just yesterday we added the second half of our LVS position as I liked the way the stock and option activity were shaping up.

Today the stock is breaking to a new high and, despite my optimism on the potential for LVS shares, given 2022’s many shakeouts, let’s stick to the plan and lock in a profit of approximately 20% on a third of our position.

To execute this trade you need to:
Sell to Close a Third of the LVS March 44 Calls

Please note, I was filled at $5.15 on my call buy yesterday. This purchase for $5.15 and the earlier buy at $5.18 move our cost basis on the full buy to $5.165 (I will round up to $5.17 for recording purposes).

November 29, 2022
Average Up Existing Position/Added Risk: Buy the Second Half of the Las Vegas Sands (LVS) March 44 Calls (exp. 3/17) for $5.60 or less.

After a couple bumps in the road, Las Vegas Sands (LVS) stock is again approaching its recent highs. And with that stock strength in LVS, and in most of the casinos, is continued bullish option activity, including these trades made in the last couple of days:

Today - Buyer of 2,200 Las Vegas Sands (LVS) December 45 Calls for $1.67 – Stock at 44.5

Today - Buyer of 5,500 Caesars (CZR) December 52 Calls (exp. 12/9) for $1 – Stock at 49.25

Yesterday - Buyer of 2,000 Las Vegas Sands (LVS) December 45 Calls (exp. 12/30) for $2 – Stock at 43.75

Last Tuesday - Buyer of 3,000 Las Vegas Sands (LVS) June 48 Calls for $4.45 – Stock at 42.3.

And while there is risk in adding the second half of this trade, I like the way LVS and the sector look, and am willing to put more capital to work:

To execute this trade you need to:
Buy to Open the Second Half of the LVS March 44 Calls

Today we are paying $5.60, which is above the $5.18 we paid in our initial buy. This will move our cost basis on our calls to $5.39 (approximately).

The risks I see in this trade are the same as our original LVS call purchase:
General Market and Sector Risk
China/Covid risk.

That being said, given the way the stock has handled bad news from China/Covid, I’m encouraged the stock could be ready to run to new highs.

November 14, 2022
Half Position: Buy Half of a Position of the Las Vegas Sands (LVS) March 44 Calls (exp. 3/17/2022) for $5.50 or less

After a monster week for the indexes, stocks are mostly unchanged today. And while my crystal ball is cloudy as to whether last week’s gains were yet ANOTHER bear market rally, or the start of a year-end bull run, today I am going to add a bit of risk via a half position in LVS, following several days of strong option activity. Here is that option activity that I noted on Friday, and further action today:

Today – Buyer of 2,000 Las Vegas Sands (LVS) January 44 calls for $3.62 – Stock at 44 (rolled from January 38 calls)

Friday – Buyer of 9,000 Las Vegas Sands (LVS) December 45 Calls for $1.95 – Stock at 43.4 (rolled from December 40 calls)

Thursday – Buyer of 3,000 Las Vegas Sands (LVS) January 49 Calls for $1.01 – Stock at 41

Thursday – Buyer of 20,000 Las Vegas Sands (LVS) November 43/45 Bull Call Spread for $0.30 – Stock at 41.

To execute this trade you need to:

Buy to Open the LVS March 44 Calls.

The most you can lose on this trade is the premium paid, or $550 per call purchased.

The risks I see in this trade are the following:

General market risk, which is very real, given the countless bear market traps this year.

General sector rotation/risk.

LVS stock will most likely move with the Covid-related policies in China/Macau.

And while there is risk in buying LVS, the stock is breaking out to a new high today, option activity is strong, and a half position of at-the-money calls with five months until expiration for $5.50 is a good risk/reward opportunity.

Position (Original)
LVS March 44 Call
Position Strategy
Buy Call
Opened Date
November 14, 2022
Expiration
March 17, 2023
Net Price
5.18
Strike
44
Jacob Mintz is a professional options trader and editor of Cabot Options Trader. Using his proprietary options scans, Jacob creates and manages positions in equities based on unusual option activity and risk/reward.