Bulls Betting Delta Flies (DAL)

Share of Delta Airlines Inc. DAL are currently lower on the session by 0.15%, trading at $13.13. The stock has been moving largely higher over the past three months, bouncing off of the $9.60 level and rallying above the 50-day and 200-day moving averages. While Delta found resistance near $14.00, one options trader is betting shares fly right through that level over the next five weeks. A short while ago the December $13/15 call spread was purchased 17,000 times for a net debit of $0.56. Volume exceeded open interest on the $13.00 strike, though not on the $15.00 strike. This can indicate one of three scenarios: a fresh bull call spread was executed, a long call position at the $15.00 strike was rolled lower, or a long hedge to short shares was rolled lower. In the first two cases, the action would be bullish; one of those scenarios seems the most likely. Delta Air Lines, Inc. provides scheduled air transportation for passengers and cargo throughout the United States, and around the world. The company's route network is centered on the hub system it operate at airports in Atlanta, Cincinnati, Detroit, Memphis, Minneapolis/St. Paul, New York-JFK, Salt Lake City, Paris-Charles de Gaulle, Amsterdam and Tokyo-Narita.