Delta Air Lines, Inc. provides scheduled air transportation for passengers and cargo worldwide. Today a trader bought over 2,000 5.9.2014 37 Calls for $.74. This gives the buyer of the calls, the right but not obligation to buy 200,000 shares of stock at $37 between now and next week and involves this trader laying out $150,000 in premium for this position. With recent sell-offs in UAL and AAL, I thought that this was a good risk vs reward trade, so I bought these calls as well. Lets breakdown my trade.
The Trade: I bought the DAL 5.9.2014 37 Calls for $.74 debit
Risk: $74 per 1 lot
Reward: Unlimited
Targets: $.85, $1.00, $1.20 and $1.40
Greeks of this Trade:
Delta: Long
Gamma: Long
Theta: Short
Vega: Long