LVS – Put Entry

I bought 20 Dec 47 puts on LVS for 2.12.  This goes away from some of the bullish trades I have been eying but the bearish setup for LVS is similar to that of yesterday for IBM.  The gap down in casino stocks earlier this week was due to shady dividend assignments and I suspect greater selling to come.  I will reassess the position if the stock moves above $46 and I am looking for about a 10% drop if the market pulls back with it.  If the market continues to rise, LVS may be stale money but I like the risk/reward setup. 

Advertisements

Posted on December 5, 2012, in Uncategorized and tagged . Bookmark the permalink. Leave a comment.

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s

%d bloggers like this: