Republic Airways Holdings Inc ( RJET
) is a holding company whose subsidiaries offer commercial air services to destinations in 132 cities in the U.S., Canada, and Mexico. The company’s stock is currently trading around $9.20 in a 52 week rang of $18.104.22.168. The stock has been underperforming the market with share prices falling 1.75% over the past 12 months. Stock is down over 6% today but has rallied hard off of its new 52 week lows. On the move higher we have seen aggressive call buying in name. Earlier today a trader bought 2,050 RJET
Mar 10 Calls for $0.49. This is a very large block and over 5,600 contracts have now traded on that line. Although the stock is trading below the cloud we believe that this provides a good set up for a trader looking for an aggressive countertrend long.