The worst case scenario is only when DAL goes bankrupt. If the commenter believes this is unlikely, then there are only two good scenarios (making some money of

The worst case scenario is only when DAL goes bankrupt. If the commenter believes this is unlikely, then there are only two good scenarios (making some money off the premium, or getting DAL at a good price) The payoff is even if the share price goes to ~ 9 bucks.