Early today, I trimmed my UAL puts to take some profits off the table, but after today’s huge rally, I’m thinking of loading up again. United Airlines reports Thursday morning, so this is a high risk/high opportunity time to get into position.
As you can see, UAL has a habit of banging out a top and then plunging.
I also think UAL is appealing because the Dow Transports top got absolutely WRECKED this week, but in spite of all that strength, UAL itself still looks good.
The only thing that would change this is if UAL keeps marching higher tomorrow, pushing too deeply into its topping pattern.
