#SaxoStrats: Southwest Airlines could test towards January high
Oil hit new six-year lows overnight and a break of the $40/barrel level into the $30s/b is very feasible. Southwest Airlines (LUV) has closed above the 200-daily moving average and while it is still some way short of the previous high of $46.93 on January 29, the stock price has lagged the recent oil drop.
Management and risk description
Entry: $1.70 (c. 4.2%); Strike 40 (ref. 40.45).
Time horizon: September 18, 2015.
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