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2,000 Earnings Expiration Puts Trade in Air Lease Corporation (Symbol: AL)


2,000 Earnings Expiration Puts Trade in Air Lease Corporation (Symbol: AL)

Posted July 10, 2024 at 10:30 am
Jeff Praissman
Interactive Brokers

This morning 2,000 Air Lease Corporation (Symbol: AL) August 16th ’24 45 puts traded for $0.90. At the time of the option trade AL stock was trading at $47.13. The outs are a 30 delta, so the trade is the equivalent of 60,000 shares of stock. This was an opening trade with the trader most likely selling the puts since at the tie of the trade the NBBO was $0.60 / $2.55.

AL is expected to release earnings on August 1st so the trader may anticipate an upward stock move and profit from the option premium or be willing to take on a stock position in AL at the entry price of $45. AL earnings has surprised to the upside in six of the past eight earnings releases.

AL is currently trading at $46.86. AL has a 52-week high of $52.30 and a 52-week low of $33.01.

AL is currently trading at $46.86. AL has a 52-week high of $52.30 and a 52-week low of $33.01.

Source: IBKR TWS. Past performance is not indicative of future results

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Disclosure: Options (with multiple legs)

Options involve risk and are not suitable for all investors. For information on the uses and risks of options, you can obtain a copy of the Options Clearing Corporation risk disclosure document titled Characteristics and Risks of Standardized Options by clicking the link below. Multiple leg strategies, including spreads, will incur multiple transaction costs. "Characteristics and Risks of Standardized Options"

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