Getting LONG RJET

Republic Airways Holdings Inc (RJET) is a holding company whose subsidiaries offer commercial air services to destinations in 132 cities in the U.S., Canada, and Mexico. The company’s stock is currently trading around $9.20 in a 52 week rang of $8.66.13.92. The stock has been underperforming the market with share prices falling 1.75% over the past 12 months. Stock is down over 6% today but has rallied hard off of its new 52 week lows. On the move higher we have seen aggressive call buying in name. Earlier today a trader bought 2,050 RJET Mar 10 Calls for $0.49. This is a very large block and over 5,600 contracts have now traded on that line. Although the stock is trading below the cloud we believe that this provides a good set up for a trader looking for an aggressive countertrend long.

Trade: Buying the RJET Mar 10 Calls for $0.50
Risk: $50 per 1 lot
Reward: Unlimited
Breakeven: $10.50

Andrew Keene
http://keeneonthemarket.com

Submit a Comment

Your email address will not be published.

TradeThirsty

Your ultimate source of knowledge about the markets.

Recent Posts

Get Our Free Daily Trading Videos

Delivered To your Inbox

By submitting your information you agree to our Terms of Service and our Privacy Policy