Everything is overvalued in this market. I gotta say DAL is a buy down here with a PE of 9. They make money. Labor is happy. They were the only ones to not whine about the hurricanes... and still beat estimates.... damn. And lets not forget the CEO of UAL (or was it American) said "the airline business has changed forever" due to technology. This is not your fathers airline stock. Or so they say. Who knows. But at a PE that low...and no other value out there thats making money without some exorbitant PE... I gotta think DAL is a screaming buy at $49. Capitulation after earnings maybe? Guess it takes patience. Buy the 2018 calls and sell the puts eh?