Put Options on AAL on 10/16/2023

American Airlines Group Inc. (AAL) operates as a network air carrier. 

The company provides scheduled air transportation services for passengers and cargo through its hubs in Charlotte, Chicago, Dallas/Fort Worth, Los Angeles, Miami, New York, Philadelphia, Phoenix, and Washington, D.C., as well as through partner gateways in London, Doha, Madrid, Seattle/Tacoma, Sydney, and Tokyo.

As of December 31, 2022, it operated a mainline fleet of 925 aircraft.

Shares have fallen below a support line and lower share prices are expected. Note that the company is facing a strike by it's pilots and that would be very bad for the company ahead of the busy holiday travel season.

The company reports October 19th. Estimates call for a profit of 26 cents per share and revenue of $13.21B.

Last Trade: $11.72

Trading Range: $1.68 to $19.08

Trade Buy 1 November $12.00 Put at $0.75 For a net debit of $0.75 Profit/Loss Analysis Breakeven at $11.25 Maximum profit is unbounded Maximum loss is ($75.00) at strike of $12.00 Closing Summary Sold 1 November $12.00 Put at $0.00

Position closed on 11/27/2023 at price of $0.00 with a -100.00% loss in 42 days.

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