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Dan Nathan said on the show that he saw a big call options volume in
American Airlines Group IncAAL on Thursday and it reached three times average daily call options volume. Calls outnumbered puts 3 to 1.
During the Thursday's trading session a trader bought 10,000 contracts of the January 40 calls for $0.82. The breakeven for this trade is at $40.82 and the stock closed at $31.98 on Friday.
Nathan is not bullish on
American Airlines Group Inc because he is concerned with Ebola panic that could hurt the airline sector. He would take the opposite trade and buy a put spread. He expects a correction of 5 to 10 percent for the stock.
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