Delta, Lands' End Test Key Levels in Today's Trading

New call positions are opening on Lands' End today

by Josh Selway

Published on Dec 3, 2019 at 3:07 PM

Looking across Wall Street today, two stocks making big moves are Delta Air Lines, Inc. (NYSE:DAL) and Lands' End, Inc. (NASDAQ:LE). For Delta, the shares are down 2.5% at $55.33, putting them back below the 50-day moving average, due to a poor load factor number from the company for November -- an update that's weighing on most other airline stocks, as well. 

But while DAL shares have moved below the 50-day, they quickly gravitated back above the $55 level, an area that caught a pullback late last month. Options traders are likely hoping the travel name turns it around quickly, since call buying has been popular. The 10-day call/put volume ratio at the International Securities Exchange (ISE), Cboe Options Exchange (CBOE), and NASDAQ OMX PHLX (PHLX) is 3.81, ranking in the 91st annual percentile.

dal stock dec 3

Lands' End, meanwhile, is rallying, last seen 19.4% higher at $14.05, thanks to the retailer's third-quarter earnings beat and upbeat full-year profit outlook. The stock is heavily shorted, with almost 17% of its float dedicated to short interest, so today's upside move could be bad news for a number of traders.

Looking closer at the price action, LE shares are currently set to take out the $14 level and 200-day moving average, two levels that came together to block a post-earnings breakout attempt in September. In the options pits today, traders are opening new positions at the June 15 call.

LE stock chart dec 3


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