Delta Air Lines (DAL) reported better-than-expected fourth-quarter results today. Revenue jumped 42% to $13.4 billion, while earnings soared 573% to $1.48 per share. Management also reiterated its full-year 2023 growth outlook. However, the stock is selling off today on soft first-quarter guidance.
I want to take advantage of post-earnings volatility by selling a put.
Current Stock Price: $38.15
Action: Sell to open the DAL Jan Week Four (1/27) 36.50 Put for around $0.46. You can go as low as $0.39, but please don’t start there and always use limit orders.