LVS Big Earnings Win: Chart & Options Show Optimism

Core Insights - Las Vegas Sands shares surged nearly 13% following the release of its third-quarter earnings, reporting a profit of $419 million and a revenue increase of 24.2% to $3.3 billion, surpassing analyst expectations of $3.05 billion [1] Financial Performance - The company reported a profit of $419 million for the third quarter [1] - Revenue increased by 24.2% to $3.3 billion, exceeding analyst estimates [1] - Shares have risen 90% from their lows in April [1] Market Position - Despite the recent surge, Las Vegas Sands has underperformed relative to the S&P 500 and the consumer discretionary sector over the past year [3] - The gaming sector shows mixed performance, with Las Vegas Sands positioned in the middle compared to competitors like Penn, Win, and Boyd [3] Technical Analysis - The stock experienced a significant bounce after reaching a low around $46, with key resistance levels identified at $57.71 [6][10] - The current trading range shows a strong performance, with the stock being the top performer on the S&P 500 for the day [6][13] Analyst Activity - There were 11 price target raises from analysts, with the most significant increase from JP Morgan, raising the target from $60 to $70, a 16.7% increase [7] - The options market showed heavier trading activity, with a volume of about 41,000 options, favoring calls over puts at a ratio of 70:30 [8][11] Expected Movements - The expected price movement for November aligns with key technical levels, indicating potential volatility [10] - The highest call level for the upcoming month is set at $57.50, while the put side has a narrower range with a standout level at $50 [12]