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LVS Call Spread Buyers Score 16.2% Gain in Hours—Trade Details Reveal Bullish Bet
Early in today’s trading session, Las Vegas Sands Corp. (LVS) options saw a notable surge in call spread activity: a 1,712-contract 57.5/61 September 19, 2025 call spread was bought for an average price of $0.79 per spread. By late morning, the spread’s value rose to $0.92—giving buyers an average gain of 0.13, or 16.2%, in just two hours, as LVS stock climbed from $56.18 to $56.55.
Key Trade Metrics: High-Volume Call Spread Stands Out
| Trade Detail | Value |
|---|---|
| Expiration | 19-Sep-25 |
| Call Spread Strikes | 57.5 - 61 |
| Number of Contracts | 1,712 |
| Days to Expiration | 23 |
| VWAP Trade Price | 0.79 |
| VWAP Bid / Ask | 0.70 / 0.89 |
| Stock Reference Price (Time of Trade) | 56.18 |
See the multi-leg trade analyzer here.
Buyers Risked $67K to Target $232K Potential Profit
The structure of this call spread gives buyers a clearly defined risk and reward. With 1,712 spreads purchased at $0.79, total premium paid amounted to just over $67,000. The trade stands to make up to $232,000 if LVS closes above $61 by expiration on September 19, 2025. To achieve maximum profit, the stock must rise another $4.45—about 7.9% above its reference price at the time of trade. The quick initial gain appears to reflect bullish short-term momentum, but the risk-reward balance relies on LVS’s ability to keep rallying in the coming weeks.
LVS Technicals Show Persistent Strength—Uptrend Supported by Moving Averages
LVS’s price action supports the logic of a bullish spread. The stock closed at $56.55, up 0.36 (0.64%), and is trading well above its key moving averages: 5.7% over its 20-day, 13.6% over the 50-day, and 23.6% above the 250-day average. Notably, LVS is outperforming the S&P 500 (SPY) over multiple timeframes, gaining 41.8% over the past year versus the SPY’s 16.5%. The stock is also breaking above its 52-week high—a strong technical signal. Short-term momentum shows a 1% gain from the open and an 87.4% move from the 52-week low.
| Duration | LVS Return | SPY Return | Low | High |
|---|---|---|---|---|
| Today | +0.6% | +0.2% | 55.88 | 56.61 |
| 2 Week | +4.9% | +0.6% | 52.76 | 56.86 |
| 1 Month | +8.4% | +1.5% | 51.51 | 56.86 |
| 3 Month | +42.7% | +11.9% | 40.04 | 56.86 |
| 6 Month | +30.5% | +9.3% | 30.18 | 56.86 |
| 1 Year | +41.8% | +16.5% | 30.18 | 56.86 |
| YTD | +11.6% | +10.9% | 30.18 | 56.86 |
| 3 Year | +54.2% | +64.5% | 30.18 | 65.58 |
| 5 Year | +17.3% | +95.2% | 28.88 | 66.77 |
Option Skew Remains Slightly Bearish Despite Strong Stock Action
While LVS technicals paint a bullish picture, the proprietary 30-day implied volatility skew ranks at 45%—indicating only a slightly bearish options market posture compared to the past year. The skew metric suggests option buyers are paying modest premiums for downside protection or may expect some volatility, which is worth monitoring in the context of a strongly trending stock.
Takeaway: LVS Call Spread Traders Ride Strong Stock Momentum but Skew Remains a Caution Flag
In summary, today’s large LVS call spread shows how traders are leveraging a sustained uptrend for potential upside over the next three weeks. Early buyers have already notched a 16.2% return, while the maximum gain remains on the table if LVS pushes above $61 by expiration. While technicals support continued strength, the slightly bearish skew hints that not all market participants are convinced the rally will continue unimpeded. Investors tracking this setup may want to watch both the price action and options skew as expiration approaches.
For those interested in monitoring more trades like this, you can look up additional call spreads and multi-leg options trades here.
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