US Airways (LCC) + C

LCC skyrocketed Tuesday on the overall upgrade and positive sentiment of the Airline Sector. I took advantage of this and sold calls on my shares locking in profits if the rally holds. The volume on Tuesday was over double the average and LCC still has a some noticeable short interest. It pulled back Wednesday only to recover and hold good support over 5 and is now showing a good base in the 5.30+ range. Volume would technically support the new base but the short interest is in the back of my mind on this one. That and the expectations for LCC is still to be less bad in 2010 but still posting a loss.

If you are a long investor this looks like a good play, I think in 2011 if this is in your portfolio it will be a great value play and you can sell OTM calls on it while holding, especially if you go out 3 months or if you are happy with some extra cash you can look at the 11 and 12 LEAPS.

I have also been picking up some CITIGroup (C) since their offering...

Happy Trading...