Unusual Options Activity: Live Nation Entertainment (LYV)

Shares of event sales company Live Nation Entertainment (LYV) have been trending higher in the past year. One trader sees the potential for a move higher from here.

  • Special: This Company’s Share Price has Increased 1650% Since 2016
  • That’s based on the April $105 calls. With 164 days until expiration, over 5,498 contracts traded against a prior open interest of 153, for a 36-fold rise in volume. The buyer of the calls paid $8.95 for the trade.

    With shares right around $100, they’d only need to rally about 5 percent to hit the strike price of $105 and send the contracts in-the-money.

    • This Company’s Share Price has Increased 1650% Since 2016.

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    The stock is already up 103 percent in the past year, thanks to the economic reopening and a rise in event sales. The company has yet to return to profitability, but the most recent revenue jump showed a 677 percent rise.

    Action to take: Shares are likely to keep trending higher, so investors may want to play this momentum trade. A few areas are still operating at less than full capacity or haven’t opened yet, so there’s still more upside potential for this play.

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  • The April $105 calls are a solid trade, as they’re near-the-money, have a strong chance of moving in-the-money, and have plenty of time for the trade to play out. Traders can likely nab high-double to low-triple-digit returns.

     

    Disclosure: The author of this article has no position in the company mentioned here, but may trade after the next 72 hours. The author receives no compensation from any of the companies mentioned in this article.