Losing altitude. Airline stocks gave up early gains and are trading lower after crude oil made a move above $107 a barrel. LCC, which initiated a fare increase Friday to offset higher fuel costs, is caught in the downdraft. The stock was recently down 60 cents to $10.39. Volume is already running four times normal and is overwhelmingly bearish (87 percent), as players snapped up more than 9,000 of the LCC April 10 and 7.5 puts.
About the Author (Author Profile)
Frederic Ruffy is a well-known trader, writer, and strategist who has spent years educating investors and creating intelligent, insightful, unbiased market observations that are frequently cited by the Wall Street Journal and other financial publications. As senior analyst, Fred provides frequent and regular notes and daily updates for activity of interest.