Monday Options Brief: FOSL, MS & VMED

Andrew Wilkinson submits: Las Vegas Sands Corp. (LVS) – Options strategists are initiating trades on the operator of casino resorts that suggest LVS shares could pull back further off recent highs. One big player wary of bearish movement in the price of the underlying shares purchased a large-volume ratio put spread in the January 2011 contract.

Andrew Wilkinson submits: Staples, Inc. (SPLS) – The supplier of office products popped up on our ‘hot by options volume’ market scanner late in the trading session after one investor initiated a bearish spread in the December contract. Staples’ shares are currently down 0.80% at $20.64 as of 3:15 p.m. in New York.

Andrew Wilkinson submits: Jacobs Engineering Group, Inc. (JEC) – The third-largest listed U.S. engineering company popped up on our scanners today after one option strategist initiated a big delta neutral position using a large number of long-dated, in-the-money put options tied to more than 1 million shares of the underlying stock.

Andrew Wilkinson submits: Patriot Coal Corp. (PCX) – Options traders are placing bullish and bearish bets on the coal company today with roughly one week remaining before the firm reports fourth-quarter earnings ahead of the opening bell next Tuesday. Shares in Patriot Coal are up 3.8% at $24.05 as of 12:10pm in New York.

Andrew Wilkinson submits: Progress Energy, Inc. (PGN) – The energy company popped up on our scanners this morning after one strategist dabbled in Progress Energy stock, call and put options.

Andrew Wilkinson submits: Barclays PLC (BCS) – More than 160,000 option contracts, nearly all of which are in-the-money put options, changed hands on Barclays by 12:20 pm in New York. Overall previously existing open interest represented by 102,738 contracts on the financial services firm pale in comparison to volume generated in the first half of the current trading session.

Andrew Wilkinson submits: AMR Corp. (AMR) – One optimistic options investor purchased a plain-vanilla debit call spread on the parent company of American Airlines today indicating shares of the underlying stock are likely to rebound by August expiration. AMR’s shares are down this morning along with the broader market, trading 3.10% lower at $6.54, as of 10:45 am (ET).

Andrew Wilkinson submits: SPDR S&P Retail ETF (XRT) – The retail sector may be poised for a pullback according to one options strategist who initiated a three-legged bearish combination spread, using call and put options set to expire in March.