Delta Airlines (DAL) loses 10 cents to $13.05 and one strategist pays 22 cents for the Jan – Mar 17.5 call spread, 10000X. This might roll a position out an additional two months. Or, it might be a timespread and a bet that shares will gain altitude, towards $17.5 through January, and continue the ascent through mid-March. Delta reported a $2.2 billion quarterly profit on 10/20. Shares are up 11.5 percent since that time.
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.