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OIB Trade Alert: DAL

Delta Air Lines (DAL) is running up following a positive forecast from competitor United Airlines (UAL), which we entered a trade on today. The news took DAL just above our $40 strike price.

I’m not sure the rally in DAL will continue. Therefore, I want to use this opportunity to close the trade around breakeven. Our UAL trade gives us exposure to the travel sector, and we are able to exit a position that was previously underwater at a small profit.

Current Stock Price: $40.09

Cash in Hand: $0.82

Action: Buy to close the DAL May Monthly (5/20) 40 Put

Current Option Price: $0.68-$0.71

Recommended Limit: Set your initial limit order at $0.70, but adjust as needed to close today

Profit: $0.12, or $12 per contract

Potential Rate of Return: 0.3% in 15 days, or 7% on an annualized basis

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