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Trade bets Delta will maintain altitude

Chris McKhann (chris.mckhann@optionmonster.com)

As shares of Delta Air Lines hit five-year highs, one trader is betting on a floor beneath the stock.

optionMONSTER systems show that a trader sold bought 3,000 June 13 puts for the ask price of $0.08 against open interest of 6,609 contracts. He or she also sold 3,000 January 14 puts for $0.92 in a new position, as there was no open interest at that strike.

This appears to be the roll of a short-put position , with the trader closing the contracts in June and opening the January position. That would be a bet that DAL remains above that $14 price through the rest of this year. (See our Education section)

DAL is up 0.56 percent to $18.06, slightly below Friday's intraday high of $18.31 and its highest level since early 2008. The airline carrier's shares have more than doubled from their September lows. 

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