Delta, Lands' End Test Key Levels in Today's Trading

Delta's price action is hurting other airline stocks

Looking across Wall Street today, two stocks making big moves are Delta Air Lines, Inc. (NYSE:DAL) and Lands' End, Inc. (NASDAQ:LE). For Delta, the shares are down 2.5% at $55.33, putting them back below the 50-day moving average, due to a poor load factor number from the company for November -- an update that's weighing on most other airline stocks, as well.

But while DAL shares have moved below the 50-day, they quickly gravitated back above the $55 level, an area that caught a pullback late last month. Options traders are likely hoping the travel name turns it around quickly, since call buying has been popular. The 10-day call/put volume ratio at the International Securities Exchange (ISE), Cboe Options Exchange (CBOE), and NASDAQ OMX PHLX (PHLX) is 3.81, ranking in the 91st annual percentile.

Lands' End, meanwhile, is rallying, last seen 19.4% higher at $14.05, thanks to the retailer's third-quarter earnings beat and upbeat full-year profit outlook. The stock is heavily shorted, with almost 17% of its float dedicated to short interest, so today's upside move could be bad news for a number of traders.

Looking closer at the price action, LE shares are currently set to take out the $14 level and 200-day moving average, two levels that came together to block a post-earnings breakout attempt in September. In the options pits today, traders are opening new positions at the June 15 call.