Unusual Options Activity, Fri 6/16/23

The following options are exhibiting notable trading, potentially indicating changing sentiment toward the underlying stocks, and/or potentially representing positioning for increased volatility.

Bullish Call Activity:

• KEY Jun 10 calls (volume: 2370, open int: 520, implied vol: ~102%, prev day implied vol: 63%). 1500 contracts traded in a single transaction. Co is confirmed to report earnings July 20 before the open.
• CRNC Jul 40 calls are seeing interest with the underlying stock up 5% (volume: 2720, open int: 0, implied vol: ~59%, prev day implied vol: 46%). Co is expected to report earnings early August.
• LVS Jun 61 calls (volume: 3190, open int: 80, implied vol: ~34%, prev day implied vol: 32%). 1300 contracts traded in a single transaction. Co is expecting to report earnings mid-July.
• WBA Jun 32.5 calls (volume: 11.5K, open int: 200, implied vol: ~25%, prev day implied vol: 24%). Co is confirmed to report earnings Jun 27 before the open.
  

Bearish Put Activity:

• PCG Jun 15 puts (volume: 1880, open int: 410, implied vol: ~25%, prev day implied vol: 22%). Co is expected to report earnings early August.
• DBX Jun 25.5 puts (volume: 1500, open int: 350, implied vol: ~34%, prev day implied vol: 32%). Co is expecting to report earnings early August.
  

Sentiment: The CBOE Put/Call ratio is currently: 0.88, VIX: (13.74, -0.76, -5.2%).
Today is options expiration -- the last day to trade June equity options.

=Las Vegas Sands (LVS) reported 4Q earnings on Wed 27 Jan 2016 (a/h)

Las Vegas Sands misses by $0.02, misses on revs :

• Reports Q4 (Dec) earnings of $0.62 per share, $0.02 worse than the Capital IQ Consensus of $0.64; revenues fell 16.2% year/year to $2.86 bln vs the $2.91 bln Capital IQ Consensus. Consolidated adjusted property EBITDA of $1.05 billion decreased 21.9% in the fourth quarter of 2015, compared to the year-ago quarter. On a hold-normalized basis, adjusted property EBITDA decreased 16.0% to $1.07 billion in the fourth quarter of 2015.
  • Sands China EBITDA -19% to $581 mln, rev -22% to $1.66 bln.
  • Marina Bay Sands EBITDA $-35% to $338 mln, rev -16% to $704 mln
  • Vegas EBITDA +25% to $97 mln; rev +10% to $400 mln.

Las Vegas Sands (LVS) — is it a buy?

• 10/5/15:  $42   Is LVS a buy?

• 2 weeks later:  +15%

Las Vegas Sands (LVS) (9/15)