$DAL drops earnings Friday premarket.
Street expects $1.83 EPS vs $1.71 last year. Revenue consensus around $18.8B.
Delta's own Q3 guide was $2.00–$2.50. Street is pricing below the low end of that range — that's weird.
They've beaten the last two quarters.
If they print anywhere near their own guide, this thing could pop hard. Risk is priced in. Reward isn't.
Looking at call spreads into the print or a small equity long with a tight stop under $58. If they miss their own guide, we're out. If they deliver, we ride.
Street expects $1.83 EPS vs $1.71 last year. Revenue consensus around $18.8B.
Delta's own Q3 guide was $2.00–$2.50. Street is pricing below the low end of that range — that's weird.
They've beaten the last two quarters.
If they print anywhere near their own guide, this thing could pop hard. Risk is priced in. Reward isn't.
Looking at call spreads into the print or a small equity long with a tight stop under $58. If they miss their own guide, we're out. If they deliver, we ride.