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Options Action: Airlines

Tuesday, 28 Dec 2010 | 5:51 PM ET

As blizzards across the northeast caused hundreds of cancelled flights and closed airports, Scott Nations is turning bearish on one airline in particular.

The lost revenue from the blizzard combined with rising fuel costs leads Scott Nations to recommend downside exposure to UAL with a February 23 put.

Get all the details. Watch the video now!

Options Action
Airline option prices as airlines face a double whammy with fuel prices and the recent blizzard. Insight with Scott Nations, NationsShares.




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Trader disclosure: On December 28th, 2010, the following stocks and commodities mentioned or intended to be mentioned on CNBC’s "Fast Money" were owned by the "Fast Money" traders; Funds Managed By Dennis Gartman Own Gold; Funds Managed By Dennis Gartman Own Wheat; Funds Managed By Dennis Gartman Own Soybeans; Funds Managed By Dennis Gartman Own Crude Oil; Funds Managed By Dennis Gartman Are Short Euro; Funds Managed By Dennis Gartman Own (NSC); Funds Managed By Dennis Gartman Own (MOS); Funds Managed By Dennis Gartman Own (RJA); Funds Managed By Dennis Gartman Own (SWC); Funds Managed By Dennis Gartman Are Short (DB); Terranova owns (UPL), (C), (PEP), (VRTS), (OXY), (GS); Pete Najarian owns (BBY) calls; Pete Najarian owns (C) stock; Pete Najarian owns (F) bonds; Pete Najarian owns (GE); Pete Najarian owns (MSFT) call spreads; Pete Najarian owns (MS); Pete Najarian owns (NKE) call spreads; Pete Najarian owns (PFE); Pete Najarian owns (RSX)

JOE TERRANOVA
Terranova is Chief Market Strategist of Virtus Investment Partners, LTD
Virtus Investment Partners Owns More Than 1% Of (ABAX)
Virtus Investment Partners Owns More Than 1% Of (ALK)
Virtus Investment Partners Owns More Than 1% Of (AMKR)
Virtus Investment Partners Owns More Than 1% Of (CCG)
Virtus Investment Partners Owns More Than 1% Of (CASS)
Virtus Investment Partners Owns More Than 1% Of (CSVI)
Virtus Investment Partners Owns More Than 1% Of (EPR)
Virtus Investment Partners Owns More Than 1% Of (EXR)
Virtus Investment Partners Owns More Than 1% Of (FCFS)
Virtus Investment Partners Owns More Than 1% Of (IGE)
Virtus Investment Partners Owns More Than 1% Of (KRC)
Virtus Investment Partners Owns More Than 1% Of (LDR)
Virtus Investment Partners Owns More Than 1% Of (LPHI)
Virtus Investment Partners Owns More Than 1% Of (MGRC)
Virtus Investment Partners Owns More Than 1% Of (NRCI)
Virtus Investment Partners Owns More Than 1% Of (DBV)
Virtus Investment Partners Owns More Than 1% Of (XLB)
Virtus Investment Partners Owns More Than 1% Of (XLV)
Virtus Investment Partners Owns More Than 1% Of (XLP)
Virtus Investment Partners Owns More Than 1% Of (XLY)
Virtus Investment Partners Owns More Than 1% Of (XLE)
Virtus Investment Partners Owns More Than 1% Of (XLI)
Virtus Investment Partners Owns More Than 1% Of (XLK)
Virtus Investment Partners Owns More Than 1% Of (XLU)
Virtus Investment Partners Owns More Than 1% Of (SUBK)
Virtus Investment Partners Owns More Than 1% Of (WDFC)
Virtus Investment Partners Owns More Than 1% Of (YDNT)
Virtus Investment Partners Owns More Than 1% Of (CLB)
Virtus Investment Partners Owns More Than 1% Of (DRYS)

TODD GORDON
Gordon is long U.S. Treasuries

BRIAN KELLY
Accounts Managed by Kanundrum Capital Own (ANDE)
Accounts Managed by Kanundrum Capital Own (BG) calls
Accounts Managed by Kanundrum Capital Own (DE) call spreads
Accounts Managed by Kanundrum Capital Own (JJG)
Accounts Managed by Kanundrum Capital Own (JJC)
Accounts Managed by Kanundrum Capital Own (GLD)
Accounts Managed by Kanundrum Capital Own (GDXJ) calls
Accounts Managed by Kanundrum Capital Own (TBT)
Accounts Managed by Kanundrum Capital Own USD
Accounts Managed by Kanundrum Capital Own (BBT)
Accounts Managed by Kanundrum Capital Own (FCX)
Accounts Managed by Kanundrum Capital Own (SLV)
Accounts Managed by Kanundrum Capital Own (MCP)
Accounts Managed by Kanundrum Capital Own (LYC)
Accounts Managed by Kanundrum Capital Own (AU)
Accounts Managed by Kanundrum Capital Are Short the Euro
Accounts Managed by Kanundrum Capital Are Short the Yen
Accounts Managed By Kanundrum Capital Own (MCP) and (MCP) put spreads

JEFF HARTE
Sandler O'Neill Has Received Investment Banking Compensation From (BAC), (C), (JPM) In Past 12 Month
Sandler O'Neill Expects To Receive/Seek Investment Banking Compensation From (BAC), (BK), (C), (JEF), (JPM), (NTRS) In Next 3 Months
Sandler O'Neill Has Received Non-Investment Banking Compensation From (BAC), (C), (GS), (JPM), (MS), (NTRS)
(BAC), (BK), (C), (GS), (JPM), (MS), (NTRS) Is A Client Of Sandler O'Neill (Non-Investment Banking Securities-Related Services)
(BAC), (C), (JPM) Was An Investment Banking Client Of Sandler O'Neill
Sandler O'Neill Is A Market Maker In (NTRS)

PETER BOOCKVAR
Boockvar Is Long Commodities Through ETFs
Boockvar Is Short Treasuries Through ETFs

ANTHONY SCARAMUCCI SOT
Skybridge Capital Owned (RAI) on 6/16/2010

JOSH BROWN
Brown And His Clients Own (MOO), (DBA)

SCOTT NATIONS
Scott Nations has no disclosures

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NBC Universal is the parent company of CNBC

CNBC.com with wires.

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UAL
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