Airline stocks have had a lot of bullish options interest for the last month or so, thanks to their attractive valuations (less than 10 P/E!) and strong earnings growth. However, the stocks have been unable to break out due to high fuel prices. With Iran conflict cooling and oil prices falling, the JETS ETF is finally gaining some momentum this week. Individual airline stocks such as JBLU and SAVE got upgrades yesterday, which should be good for the ETF's near-term performance.