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Spirit Airlines options - can someone explain how this works?
Posted on 6/28/22 at 11:34 am
Posted on 6/28/22 at 11:34 am
I am the unfortunate owner of 1000 shares of American Airlines that I bought at a little above $20 a share. I'm wondering if I should dump it and buy Spirit shares today ahead of the vote to accept the Frontier or Jet Blue offers. It would seem like the stock is going up either way more than my American Airlines will, but if it were that easy everyone would be buying it.
Posted on 6/28/22 at 1:43 pm to Ramblin Wreck
Don't deal with options if you have to ask this question.
Posted on 6/28/22 at 4:02 pm to Ramblin Wreck
quote:
I'm wondering if I should dump it and buy Spirit shares
There’s nothing about options in your post. Or do you mean, what are your options?
My advice would be to not jump back into an airline stock (or options) at this time, assuming you decide to unload your American shares. Just my 2 cents, so take that for what it’s worth.
Posted on 6/29/22 at 8:37 am to Ramblin Wreck
quote:
am the unfortunate owner of 1000 shares of American Airlines that I bought at a little above $20 a share
Do you need the money? Why sell now? Long term I would keep holding and probably buy even more.
Posted on 6/29/22 at 12:35 pm to Ramblin Wreck
You can sell covered $20 calls with a Jan 2023 expiry today at $0.60 a share. There’s $600 today IF AAL gets back to $20. Or sell monthly covered calls at more aggressive strikes.
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