UAL Corp. (UAUA, news, chart) is seeing bullish trading, as the airline sector continues to ride high with help from falling crude oil prices. UAUA is up $1.34 to $14.02 and is the second best percentage gainer in the NASDAQ 100 Index (.NDX). (Autodesk (ADSK), which reported earnings yesterday, is leading the NDX with a 12 percent gain.) The AMEX Airline Index (.XAL) is up 1.29 to 26.91 and not far from Tuesday’s four month closing high of 26.79 after crude oil fell $3.26 to $111.75 a barrel. UAUA is among the best gainers in the sector. The company said today that CFO Jake Barce is stepping down on November 1 and will be replaced by investor relations VP Kathryn Mikells. In the options market, sentiment is bullish. 10,000 UAUA calls have already traded today, compared to less than 3000 puts.
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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.