Las Vegas Sands (LVS): A Bearish Trade

Las Vegas Sands (LVS) rallied over 80% since October, forming a head and shoulder pattern since the beginning of the year, notes Tony Zhang. He discusses the bearish case for LVS. He mentions that LVS is trading at nearly 31X forward earnings and price based on optimism of China's reopening. He highlights that his hunch is that guidance may come in light and become a catalyst to trade back down towards its $54 neckline. He then demonstrates an example trade using LVS. The trade type is buy a put and the direction is bearish. Tune in to find out more about the stock market today.