Deep-pocketed investors have adopted a bearish approach towards Delta Air Lines DAL, and it's something market players shouldn't ignore. Our tracking of public options records at Benzinga unveiled this significant move today. The identity of these investors remains unknown, but such a substantial move in DAL usually suggests something big is about to happen.
We gleaned this information from our observations today when Benzinga's options scanner highlighted 11 extraordinary options activities for Delta Air Lines. This level of activity is out of the ordinary.
The general mood among these heavyweight investors is divided, with 9% leaning bullish and 90% bearish. Among these notable options, 3 are puts, totaling $112,352, and 8 are calls, amounting to $2,233,998.
Predicted Price Range
Taking into account the Volume and Open Interest on these contracts, it appears that whales have been targeting a price range from $35.0 to $60.0 for Delta Air Lines over the last 3 months.
Analyzing Volume & Open Interest
In terms of liquidity and interest, the mean open interest for Delta Air Lines options trades today is 4347.43 with a total volume of 23,401.00.
In the following chart, we are able to follow the development of volume and open interest of call and put options for Delta Air Lines's big money trades within a strike price range of $35.0 to $60.0 over the last 30 days.
Delta Air Lines Option Volume And Open Interest Over Last 30 Days
Significant Options Trades Detected:
| Symbol | PUT/CALL | Trade Type | Sentiment | Exp. Date | Strike Price | Total Trade Price | Open Interest | Volume |
|---|---|---|---|---|---|---|---|---|
| DAL | CALL | SWEEP | BEARISH | 01/17/25 | $35.00 | $1.2M | 3.0K | 950 |
| DAL | CALL | SWEEP | BEARISH | 04/19/24 | $42.00 | $426.4K | 22.2K | 1.0K |
| DAL | CALL | SWEEP | NEUTRAL | 04/19/24 | $42.00 | $252.6K | 22.2K | 2.0K |
| DAL | CALL | SWEEP | BEARISH | 04/19/24 | $42.00 | $155.3K | 22.2K | 1.4K |
| DAL | CALL | SWEEP | BEARISH | 04/19/24 | $42.00 | $45.9K | 22.2K | 111 |
About Delta Air Lines
Atlanta-based Delta Air Lines is one of the world's largest airlines, with a network of over 300 destinations in more than 50 countries. Delta operates a hub-and-spoke network, where it gathers and distributes passengers across the globe through its biggest hubs in Atlanta, New York, Salt Lake City, Detroit, Seattle, and Minneapolis-St. Paul.
In light of the recent options history for Delta Air Lines, it's now appropriate to focus on the company itself. We aim to explore its current performance.
Delta Air Lines's Current Market Status
- With a trading volume of 2,314,347, the price of DAL is down by -0.07%, reaching $45.97.
- Current RSI values indicate that the stock is may be overbought.
- Next earnings report is scheduled for 20 days from now.
What Analysts Are Saying About Delta Air Lines
1 market experts have recently issued ratings for this stock, with a consensus target price of $59.0.
- An analyst from UBS downgraded its action to Buy with a price target of $59.
Trading options involves greater risks but also offers the potential for higher profits. Savvy traders mitigate these risks through ongoing education, strategic trade adjustments, utilizing various indicators, and staying attuned to market dynamics. Keep up with the latest options trades for Delta Air Lines with Benzinga Pro for real-time alerts.
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
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