US Airways (LCC, news, chart, volatility) and some of the airlines are getting a lift from falling crude oil prices Thursday (see 1:30 Comment). The AMEX Airline Index (.XAL), a cash settled index of 13 airline stocks, is up .90 to a three-week high of 21.23. Shares of US Airways are up 86 cents to $7.03 and options volume is running at two times the average level. 5,765 calls and 1,040 puts have traded. The December 7.5 calls are leading the order flow, with 4,600 traded and almost 80 percent trading on the offer. ISE Sentiment data confirms opening customer orders. AMR (AMR) Jan 10s are seeing similar activity and action has been picking up in Delta (DAL) December 10s as well.

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