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Dan Nathan Sees Unusual Options Activity In American Airlines

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On CNBC's "Options Action," Dan Nathan spoke about unusually high options activity in American Airlines Group Inc (NASDAQ: AAL). He said the stock dropped around 4.5 percent on Wednesday and options volume was two times the average daily options volume.

When the stock was trading at around $30, a trader bought the June 30 straddle for $2.31. The trader is betting that the stock is going to move $2.31 or around 8 percent in either direction. Nathan added that $30 was a strong support level recently.

Posted-In: CNBC Dan Nathan Options ActionOptions Markets Media

 

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