If you look at the pure price chart overlay of the two stocks, they oscillate back and forth over time and looking back one year (in this chart) you can see that LUV is lagging a bit lately and JBLU is ahead of itself.
I am looking at putting on both of these positions: Short JBLU to fall relative to LUV. And Long LUV to rally relative to JBLU .
Risk 3% to make 10% over the next 10-15 days.
Tim 1:48PM EST Friday, July 24, 2015