No, without dividends.

LUV knocking around at $32.20. Wondering if there's a dip left in it down into the $27 -$29 range or if the COVID floor is around $30.

Looking like the 20's are a possibility for this week. Anyone buying more?

Brian Earl Spilner said:

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Looking like the 20's are a possibility for this week. Anyone buying more?

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I have never owned LUV to date. But if it gets into the 20s I may very well seriously consider it

I'm aiming for the 27 range to get back in

tam2002 said:

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I'm aiming for the 27 range to get back in

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In at a hair over 30. If we approach middle $20's I would double my position without thinking twice about it as I think they have fortified their balance sheet to ride this out and will be the lead dog in the recovery.

Quick snapshot of their current position..I don't think this is behind a paywall but if so, google article title and you should be able to bypass it.

Southwest Airlines

I'm currently holding a 30.76 average so if it falls to 29 or lower I'll definitely be buying more.

Someone far better at this can supply a graphic, but I take a look at the trendlines and notice it's still going down. There is a downward trend line from February at $58.89 all the way to the recent high of $42.35. Decaying about $5 a share a month.

All purchases I make will be going long via swing trading back up to touching that line and then selling if it gets close. Sell off, buy in again, and repeat. If it breaks that trend line, hold and enjoy.

I'll go long eventually. I love the company. This will be the best company to recover. I just don't see it "recovering" the next few months as I think August-November will be awful for the entire market if we don't get additional bailouts.

Well damn. No 20's for us.

What's with the bump lately ?

Schall 02 said:

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What's with the bump lately ?

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Travel stocks started taking a big bump after hours yesterday with the good news on the Moderna vaccine trial.

My 1-2021 calls are up 25%+ today. Not that it really matters since I'm not selling today, but its nice to watch after the last few weeks of getting kicked in the dick.

What kind of premium did you pay on those?

It varied by purchase date. The most recent ones I bought 7/9 at $35 strike were $4.31 and right now the last sale price was at $6.65. Up over 40% in a week. Not everything has hit like that and I'm not selling today so it doesn't really matter, but it's nice to see them going back up.

Very nice. I admittedly know next to nothing about options. It is one thing I would like to add to my playbook eventually, but I'm still learning the easier plays.

A word of caution on options quotes and "value" estimates used in calculating unrealized gains or losses: You really have to look at the bid/ask spread, which is quite wide compared to the underlying stock bid/ask spread. Therefore, brokerage accounts use a variety of methods to determine interim performance (which is frustrating, but there's no really good answer).

The "last" trade for options contracts is an automatically wrong method, as the last trade may have been days or weeks ago due to the thinly traded character of most option contracts. Schwab, my broker, for example, uses a hypothetical mid-point between the bid and the ask for intraday quotes and value estimation. This may either undervalue or overvalue what the market really is, but may be the best compromise. Then, at closing, they switch over to the end of day bid, in most cases, I think. This generally understates the value, but is closer to what you could have realized if you traded right before closing. It is sometimes something else entirely, which I haven't figured out.

Just saying, don't confuse option theoretical gains as real until your trade executes - all quotes are an estimate, by nature.

In the case I posted yesterday, that last sale price of $6.65 was close to the midpoint price of $6.67, so I felt is was a representative price to post. You do make good points for folks starting to look at options, especially in lower liquidity equities.

Todays retracement shouldn't surprise anyone. It is interesting that LUV has retraced to a price lower that where it gapped up to open yesterday, while DAL has retraced close to the open and UAL has retraced to a price still higher than yesterdays open. Maybe those two are rumored to get more bailout help which will prop up prices more in the short term?

For those wondering WTF was going on with airlines yesterday this was part of it: https://www.reuters.com/article/us-health-coronavirus-usa-airlines-idUSKCN24H20W

Also probably helped by lots of vaccine rumors yesterday.

DL posted a $5.7B loss just for 2Q.

Some of y'all are a lot braver than I am. I find the airline stocks interesting to watch at this point but the volatility has me in a wait and see mode.

If it takes a big dip into the mid20s I'll give it a look, but not in a rush to jump in now.

Hmmmm

@30.54. Tempting me to buy back in.

bloodbath

TexasAggie008 said:

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bloodbath

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Still holding 205 shares @ $30.91 and wondering if I shouldn't buy more.

If you're in this long term, I don't see how accumulating more is a bad idea. Unless you think it still may get back to the previous 20day low of 30.24 but its trending back up again already

I can't see travel picking up significantly over the next few months until at least near the end of the 3rd quarter, wouldn't surprise me to see airline stocks dip a bit more before they get better.

Agree completely. But they are offering some really good swing plays lately.