I want to get back to trading travel stocks by selling a put on Delta Air Lines (DAL) today.
The stock is up more than 4% following the release of the company’s latest earnings results. Delta reported better-than-expected revenue, a lower-than-expected adjusted loss and said it expects to turn a profit this quarter. Management said the airline logged the highest bookings in the company’s history, helping to offset rising fuel prices.
Current Stock Price: $40.27
Action: Sell to open DAL Apr Week Four (4/22) 38.50 Put for around $0.36. You can go as low as $0.30, but please don’t start there and always use limit orders.