Anybody who has a level 2 and watches LUV like I have the past month knows, that there is serious manipulation. If you have level 2 watch the bid and ask. The bid will ALWAYS be 1 penny lower than the ask with a bid of 15,000 shares with ONLY 1 market maker and the ask side is ALWAYS 1 penny higher with a sell order of around half of the ask order so about 7k or 8k. This process continues for about 5 minutes then reverses. The ask will all the sudden go 15k or 20k shares selling with the bid side of about 7k or 8k buying AND ALWAYS ONE MARKET MAKER!!
This has been going one for at least a month, its ridiculous. After mid feb when the options expire this piece of #$%$ will go down. So short this #$%$ at around 11.97
I promise, you won't be disappointed.
And for those who have level 2 on there trading platform, just watch the bid/ask always with ONE market maker, you will see what I'm talking about. Because there is no reason why LUV should be continuing to rise when oil prices have gone to nearly 100 dollars a barrel. And yes.... I'm aware that LUV hedges against fuel cost. I still believe this P.O.S will fall after mid feb when the options expire.