Analysts Bet on Casino Stock After Earnings

Options volume is running at quadruple the intraday average

Deputy Editor
Apr 20, 2023 at 10:33 AM
facebook X logo linkedin

Las Vegas Sands Corp (NYSE:LVS) stock is up 4% to trade at $61.73 at last glance, after the casino name issued a stellar first-quarter report. Specifically, the company reported adjusted earnings of 28 cents per share on revenue of $2.12 billion, both of which came in above analysts' estimates thanks to higher visitation levels in march.

In response, no less than seven analysts hiked their price targets, including Citigroup to $80.50. The majority of analysts are bullish on LVS already. Of the 11 analysts in coverage, 10 now carry a "buy" or better rating, while the 12-month consensus price target of $61.47 is an 8.5% premium to current levels. 

Options traders are targeting Las Vegas Sands stock at six times the intraday average after the news. So far, 8,775 calls and 3,066 puts have been exchanged, with the April 63 call seeing the most activity, followed by the 60 call from the same monthly series. 

This interest in bullish bets is nothing new. LVS's Schaeffer's put/call open interest ratio (SOIR) of 0.63 ranks higher than just 15% of annual readings. This implies short-term options traders have operated with a call-bias.

Today's pop has Las Vegas Sands stock trading at more than two-year highs. The shares are up more than 61% year-over-year and now boast a healthy 29.4% year-to-date lead.


Target Effortless Triple-Digit Gains Every Sunday Evening For Life!

This is your chance to triple your profit potential on Sunday evenings, without spending all your free time watching the market.

On Sundays, as a Weekend Plus subscriber, you’ll get up to 6 trades every Sunday, each targeting gains of 200% or more.

Start targeting gains like the ones our subscribers have seen recently, including:

213.3% GAIN on AutoNation calls
100.0% GAIN on Monster Beverage calls
100.4% GAIN on Walgreens Boots Alliance puts
100.4% GAIN on ON Semiconductor calls
257.7% GAIN on Dell calls

101.0% GAIN on Apollo Global Management calls
103.6% GAIN on JP Morgan  Chase calls
105.3% GAIN on DraftKings calls
101.3% GAIN on Airbnb calls
203.0% GAIN on Shopify calls
102.0% GAIN on Cboe Global Markets calls
100.9% GAIN on Boeing calls
102.1% GAIN on Microsoft puts
102.3% GAIN on First Solar calls
101.5% GAIN on PulteGroup calls
101.0% GAIN on Apple calls
209.4% GAIN on NXP Semiconductors calls
100.8% GAIN on Uber Technologies calls
100.4% GAIN on Academy Sports and Outdoors puts
102.2% GAIN on Trade Desk calls
100.8% GAIN on DoorDash calls
100.0% GAIN on Camping World Holdings puts
100.0% GAIN on Cboe Global Markets calls
100.2% GAIN on calls
238.5% GAIN on Oracle calls



Rainmaker Ads CGI