Filed under: Deals, Contl Airlines’B’ (CAL), UAL Corp (UAUA), Options, Delta Air Lines (DAL)

Continental (NYSE: CAL) closed at $28.70 Thursday.

CAL and United Airlines (NYSE: UAUA) are in advanced negotiations and could complete a combination swiftly if Delta (NYSE: DAL) and Northwest Airlines (NYSE: NWA) strike a deal, states Dow Jones.

WTI Crude oil is recently up .12% to $95.57 according to Bloomberg.

CAL March option implied volatility of 71 is above its 26-week average of 58 according to Track Data, suggesting more massive price movement.

Option Update is provided by Stock Specialist Paul Foster of theflyonthewall.com

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