LVS Long Idea
LVS has been in a consolidation range for over 3 months. It is approaching a trend line that has been proven to be major support over the past year. I am looking for a breakout of this trading range to the upside. This stock moves fast when it gets a little momentum to the upside. It is currently trading below the 200 day MA, which in this market makes it somewhat of a value play.
Strategy:
Jan 2022 60 Calls (These contracts are trading with the lowest premium since they were originated)
Aug 2021 52.50/50 Put Credit Spread. Good risk to reward if it bounces and, gives plenty of time for the move to happen and collect a little theta decay.
Good luck trading!
Strategy:
Jan 2022 60 Calls (These contracts are trading with the lowest premium since they were originated)
Aug 2021 52.50/50 Put Credit Spread. Good risk to reward if it bounces and, gives plenty of time for the move to happen and collect a little theta decay.
Good luck trading!
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