EARN25

S&P 500 Addition Bolsters Struggling LVS Stock

The stock has been stuck in a downtrend

Digital Content Manager
Sep 27, 2019 at 9:35 AM
facebook X logo linkedin


It was announced last night that casino name Las Vegas Sands Corp. (NYSE:LVS) will be joining the S&P 500 Index (SPX), replacing Nektar Therapeutics (NKTR), which is headed to the S&P MidCap 400 Index (MID), prior to the open next Thursday, Oct. 3. The equity is up 4.7% at $58.48 in response, set for its highest close in over a week, and its biggest one-day jump since early July. 

The stock has been sliding on the charts since running out of steam just below its 320-day moving average -- finishing seven of the last eight sessions in the red. The stock managed a bounce off the round $55 region, however, and still boasts a roughly 12.4% year-to-date gain.

For the most part, the brokerage bunch has remained on the sidelines, with the majority of 11 analysts in coverage calling the stock a "hold." On the other hand, the consensus 12-month price target sits all the way up at $69.78 -- a level not touched since August 2018. 

Meanwhile, short-term options traders are incredibly call-skewed on LVS, as evidenced by its Schaeffer's put/call open interest ratio (SOIR) of 0.52, which sits in the low 4th percentile of its annual range. In the front-month series, peak open interest is found at the October 60 call, where it looks like most of the contracts were purchased.

 

You Don’t Need 25 Alerts -- You Need ONE You Can Trust!

That’s the idea behind Trade of the Week, Schaeffer’s newest trade alert.

Every Monday morning before the opening bell, you’ll receive a single, expertly researched trade recommendation -- built from the same proprietary research we’ve been using for over four decades.

It’s not just a signal.

It’s a plan designed for traders who are tired of jumping from alert to alert without ever finding their edge.

No juggling alerts. No switching directions mid-week. Just one clear, expertly researched trade idea -- delivered before the market even opens.

👉 JOIN RIGHT NOW FOR JUST $1 TO GET THE NEXT TRADE!