The airlines have all reported and have had a nice run along with the whole leisure industry.
The run-up is over, however.
It is probably time to take the other side of the run they have had. In addition to the run-up, implied volatility (IV) has really fallen off in the group, to the point that options on these names are now pretty darn cheap.
The November $14 puts in AAL cost less than $0.70. They are a buy, in my view.
Buy to open AAL Nov. 18 $14 puts for $0.69.