With the recent massive selloff in the commodities market, particularly in oil; airlines have been gaining market value despite the difficult economy. On December 5th United Airlines holding company UAL Corp saw about 18,000 call option contracts traded (this is roughly 5 times the number of puts). We are seeing a lot of bullish sentiment in the airline stocks as one could tell from looking at the AMEX Airline Index (XAL). The fact is that many people are seeing the drop in oil as a strong reason to be bullish on the airline industry, so a good play could come out of it.

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