Whales with a lot of money to spend have taken a noticeably bearish stance on Spirit Airlines.
Looking at options history for Spirit Airlines SAVE we detected 11 trades.
If we consider the specifics of each trade, it is accurate to state that 27% of the investors opened trades with bullish expectations and 72% with bearish.
From the overall spotted trades, 7 are puts, for a total amount of $700,431 and 4, calls, for a total amount of $226,156.
Predicted Price Range
After evaluating the trading volumes and Open Interest, it's evident that the major market movers are focusing on a price band between $5.0 and $5.0 for Spirit Airlines, spanning the last three months.
Insights into Volume & Open Interest
In today's trading context, the average open interest for options of Spirit Airlines stands at 32684.0, with a total volume reaching 7,589.00. The accompanying chart delineates the progression of both call and put option volume and open interest for high-value trades in Spirit Airlines, situated within the strike price corridor from $5.0 to $5.0, throughout the last 30 days.
Spirit Airlines Option Activity Analysis: Last 30 Days
Noteworthy Options Activity:
| Symbol | PUT/CALL | Trade Type | Sentiment | Exp. Date | Strike Price | Total Trade Price | Open Interest | Volume |
|---|---|---|---|---|---|---|---|---|
| SAVE | PUT | SWEEP | BEARISH | 06/20/25 | $5.00 | $385.9K | 44.5K | 2.2K |
| SAVE | PUT | SWEEP | BEARISH | 06/20/25 | $5.00 | $113.5K | 44.5K | 708 |
| SAVE | CALL | SWEEP | BULLISH | 04/19/24 | $5.00 | $75.8K | 1.1K | 2.0K |
| SAVE | PUT | SWEEP | BEARISH | 06/20/25 | $5.00 | $68.3K | 44.5K | 266 |
| SAVE | CALL | TRADE | BEARISH | 01/17/25 | $5.00 | $50.1K | 1.6K | 740 |
About Spirit Airlines
Spirit Airlines Inc serves the United States, Latin America, and Caribbean as an airline operator. It primarily offers customers unbundled base fares to strip out any unneeded travel amenities. If needed, a customer can elect for additional options at an extra charge. Flight crews are entirely interchangeable across all aircraft, and maintenance and other support services are simplified due to not having an overly complex fleet. The company has one operating segment, air transportation, owing to its system wide route structure. It may decide to expand its network if a market is underserved or overpriced. The majority of revenue is derived from the United States.
After a thorough review of the options trading surrounding Spirit Airlines, we move to examine the company in more detail. This includes an assessment of its current market status and performance.
Current Position of Spirit Airlines
- Trading volume stands at 6,465,165, with SAVE's price down by -0.82%, positioned at $4.81.
- RSI indicators show the stock to be may be oversold.
- Earnings announcement expected in 44 days.
Professional Analyst Ratings for Spirit Airlines
1 market experts have recently issued ratings for this stock, with a consensus target price of $4.0.
- An analyst from Citigroup has decided to maintain their Sell rating on Spirit Airlines, which currently sits at a price target of $4.
Options are a riskier asset compared to just trading the stock, but they have higher profit potential. Serious options traders manage this risk by educating themselves daily, scaling in and out of trades, following more than one indicator, and following the markets closely.
If you want to stay updated on the latest options trades for Spirit Airlines, Benzinga Pro gives you real-time options trades alerts.
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
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