UAL: I am bullish the fundamentals, and we see price action respecting uptrend in daily candlesticks for now. However, in terms of positioning, seeing limited upside for now. 50 has a lot of put delta, and 52.5 has more. MM will hedge and curb rallies at these points.
As such, some pressure will likely continue on the stock.
Here's the technicals:
45 looks like strong support in temrs of the call delta that is sitting there. MM will go long there as a result.
Still seeing lots of put gamma for now.
Posted Jul 1, 2024, 12:59 AM UTC
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