Delta Air Lines (DAL) NewsBite - Higher Oil Pulls Down DAL

Wednesday, November 19, 2008 1:58 PM EDT

Delta Air Lines (NYSE: DAL) opened at $7.85. So far today, the stock has hit a low of $7.05 and a high of $8.01. DAL is now trading at $7.08, down $0.80 (-10.15%). Over the last 52 weeks the stock has ranged from a low of $4.00 to a high of $20.00. Shares of DAL are declining with other airlines today, hurt by rising oil futures. Technical indicators for the stock are bullish and S&P gives DAL a positive 5 STARS (out of 5) strong buy ranking. If you are looking for a hedged play on DAL the stock seems like it could be a candidate for a December out-of-the-money bear-call credit spread above the 10 range. [ABR-Seven Summits Strategic Investments NewsBite]

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