Despite the bullish pop on Wednesday, we are seeing a lot of puts trading in certain areas of the market. One name that has been facing headwinds and is likely going to pull back is American Airlines (AAL) . We are seeing traders buy the January $12 puts for some decent size. With the stock bumping against resistance, I think we could see AAL drop back toward $10. The Sept. 15 puts are only about $0.81, I think these are going to double.
Trade: Buy to open one AAL Sept. 16 $15 put for $0.82.