“Delta has the strongest competitive positioning at all of its key hubs and holds almost a 70-75% market share at its top 6 hubs, where it has deployed more than 50% of its capacity. It has the highest penetration in the premium traffic segment among the three U.S. full-service carriers.”

 “Stronger pricing for semiconductors should fuel another rally for the stock.”

 “Inflation has been the bigger event for traders the past two years and still is... Despite a recent payrolls miss, any prints that show more than 150,000 jobs were created in a given month, investors will largely be comfortable with that because it still reflects a strong labor market. If job growth were to come in below that, the market will start to shift its focus toward hiring growth over inflation.”

 “The rise in interest rates that has pushed up SPX forwards increases call premiums relative to puts... This has eased the entry for collar strategies that sell calls and buy puts. The decline in the SPX skew, which is close to the low of the last 10-year range, has also reduced the cost of this strategy.”

 “We expect high-grading efforts in the Delaware Basin will begin to bear fruit in Q2′24, leading to a significant improvement in capital efficiency and a positive re-rating of the stock.”