Delta Airlines (DAL) lost 85 cents to $10.65 amid weakness in the airlines on worries about rising fuel costs after crude oil launched more than $5 higher to $95 a barrel. Options order flow in Delta seems somewhat bullish, however, after 24000 calls and 6,275 puts traded in the name. The top trade is a Mar 11 – 12 call stupid spread, where the investor bought both contracts for a total premium of 63 cents, 1500X. Sep 12 calls are the most actives. 8542 traded. April 11 and June 13 calls are seeing active trading as well. Meanwhile, implied volatility jumped 23 percent to 48.5.
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.