July Bear Call Spread

LVS – Las Vegas Sands Corp.Las Vegas Sands Corp. and its subsidiaries develop and operate hotel, gaming, and resort businesses. It owns the Venetian resort-hotel-casino and the Sands Expo and Convention Center in Las Vegas, Nevada; and The Sands Macao Casino in Macao, the People’s Republic of China (PRC). The company’s casino resorts include hotels, exhibition and conference facilities, casinos, showrooms, shopping malls, spas, restaurants and entertainment facilities, expo and convention centers, and other attractions and amenities. It is also developing the Venetian Macao resort-hotel in Macao, the PRC; the Palazzo resort-hotel-casino in Las Vegas, Nevada; Sands Bethworks in Bethlehem, Pennsylvania; and the Marina Bay Sands in Singapore. The company was founded in 1988 and is headquartered in Las Vegas, Nevada.

Bear call spread:-

Buy July 85 call
Buy July 90 call

Technicals: The stock had a 52-week low of $57.68 set back in July. After the new low, the stock began a multi month rally which resulted in a 52-week high of $109.45. Since that high price, the stock has been steadily trending lower and much of the time beneath its 30-dma. A previous area of support found at the $90 mark failed to hold and ultimately, the stock resumed a trend lower with no safety net in place. The stock trades in the casinos & gaming industry which has been trending lower for several months. The MACD’s are reading flat while the Stochastics are providing a sell signal. Volume over the month of May has substantially increased as prices trend lower. It seems that there is plenty of momentum for prices to continue to slide.