US Airways (LCC) is up $1.14 to $12.14 after JP Morgan said in a research note that current prices in the sector don’t reflect the recent drop in fuel prices. LCC is notching new 52-week highs today. In options action, a Jun 10 – 11 put spread trades on the stock for 26 cents, 10000X, and might roll a hedge up in strike prices after the 139 percent year-to-date surge in LCC.
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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.