Hey trader,
Iran saber rattling is back.
While most traders are watching crude futures, someone just made a 47,000-contract bet in American Airlines.
The Ghost Prints Surveillance Console flagged the trade this morning. The size alone makes it one of the largest single-session prints in AAL in recent memory.
This is not a retail trade.
Retail traders don't move 47,000 contracts in a single session. The read on this positioning is a bet on one of two things: oil prices declining from current levels, which would relieve cost pressure on airlines, or rising consumer demand that fills seats regardless of fuel costs.
Either outcome is bullish for AAL.
But the trade itself reveals something more important than the directional bet.
Understanding why AAL was chosen as the vehicle tells you more than the trade size alone.
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