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.