Bulls Descend Into US Airways (LCC)
September 27, 2010 10:44 AM
Shares of US Airways, Inc. (NYSE: LCC) are popping this morning, currently higher by 4.67%, trading at $9.41. The stock is moving on the back of Southwest Airline's (NYSE: LUV) $1.4 billion bid for AirTran (NYSE: AAI).
Call volume is exploding in LCC today. Within the first hour of trading 33,000 calls have traded versus only 610 puts. Call volume is running at over 7x the daily average with 77% of all calls traded being purchases on the offer.
The heaviest action is coming on the November $10.00 strikes, where 20,000 contracts have traded on open interest of just 666 contracts.
US Airways, Inc. is engaged in the operation of a network air carrier. The company provides air transportation for passengers and cargo. US Airways is a wholly owned subsidiary of US Airways Group, Inc. US Airways is a member of the Star Alliance, the airline alliance, which has 26 member airlines serving approximately 1,077 destinations in 175 countries as of December 31, 2009.
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