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Delta Stock: Gaining Altitude?

Shares of Delta Air Lines have been losing altitude over the past month, but they got a lift Friday. What’s the trade?

The airlines and the transports have been a hot and cold sector this year, explains Jon Najarian on CNBC’s Closing Bell. The airlines popped in Janauary but are now trading lower with Delta down 40% in the last 30 days.

On Friday however I noticed some strong call buying in DAL stock. That suggests to me the stock could go significantly higher, Najarian explains.

The increase in options trading comes on the heels of a Wall Street Journal report which suggests that executives at Northwest Airlines have proposed that Northwest and Delta go ahead with their planned merger.

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Citing people familiar with the matter, the Journal said on its Web site that Northwest also has suggested offering pilots less-generous terms than those previously on the table.

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