Delta Airlines (DAL) – Staples Smackdown – Jan 13th, 2020

Bullish – DAL $68.02 – Industrials

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Market Outlook:
The S&P 500 (SPY) has continued to climb on trade war resolution news and central bank pumping liquidity into the markets. Notably, the VIX continues to decline, suggesting that traders aren’t too concerned about market pullbacks. Despite strong momentum and relative strength, we continue to see risks of a pullback towards $302.50.  

DL Trade Idea:
On CNBC’s OptionsAction show on Friday, Tony Zhang, Chief Strategist of OptionsPlay suggested that Delta could be a strong airline stock. DAL is pushing a $60 resistance on strong fundamentals. Tony Zhang, expecting DAL to beat earnings, suggests buying a Jan/Feb 60 Call Calendar @ $0.89 Debit. As of Friday’s close, these calls were trading at $0.89 Debit.

We’ve structured this trade in OptionsPlay so you can analyze and view this trade along with the supporting technical chart at your convenience. You can also view the Options Action’s video by clicking on the following link: DAL OptionsAction Trade

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