Bearish due-diligence post arguing Alaska Airlines is vulnerable due to unreported loyalty account thefts, broken technology, and an unexplained $180M loyalty liability spike, expressed via long-dated puts.
ALK — SHORT The author claims Alaska Airlines is hiding systematic loyalty-account thefts and refusing to report fraud to avoid a data-breach disclosure that would hit the stock. He argues the accounting is also suspect, pointing to an unexplained $180M loyalty liability spike and a $195M BofA receivable increase, with $120M later shifted to non-current assets. He expects these issues to surface and drive ALK down, expressing the view through April 2026 puts, whose returns are intended to track underlying ALK downside rather than isolated option premium.
I am Short Alaska Airlines. Here is the dirt.
This Reddit post, published January 14, 2026, features u/NorthcoteTrevelyan discussing ALK. 1 trade idea extracted by AI with direction and confidence scoring.
Speakers: u/NorthcoteTrevelyan · Tickers: ALK