Investors with significant funds have taken a bearish position in Spirit Airlines SAVE, a development that retail traders should be aware of.
This was brought to our attention today through our monitoring of publicly accessible options data at Benzinga. The exact nature of these investors remains a mystery, but such a major move in SAVE usually indicates foreknowledge of upcoming events.
Today, Benzinga's options scanner identified 12 options transactions for Spirit Airlines. This is an unusual occurrence. The sentiment among these large-scale traders is mixed, with 25% being bullish and 50% bearish. Of all the options we discovered, 11 are puts, valued at $1,529,420, and there was a single call, worth $25,200.
Expected Price Movements
Based on the trading activity, it appears that the significant investors are aiming for a price territory stretching from $1.0 to $12.5 for Spirit Airlines over the recent three months.
Insights into Volume & Open Interest
Examining the volume and open interest provides crucial insights into stock research. This information is key in gauging liquidity and interest levels for Spirit Airlines's options at certain strike prices. Below, we present a snapshot of the trends in volume and open interest for calls and puts across Spirit Airlines's significant trades, within a strike price range of $1.0 to $12.5, over the past month.
Spirit Airlines Option Activity Analysis: Last 30 Days
Significant Options Trades Detected:
| Symbol | PUT/CALL | Trade Type | Sentiment | Exp. Date | Ask | Bid | Price | Strike Price | Total Trade Price | Open Interest | Volume |
|---|---|---|---|---|---|---|---|---|---|---|---|
| SAVE | PUT | SWEEP | BEARISH | 12/20/24 | $1.0 | $0.8 | $1.0 | $2.00 | $470.4K | 27.1K | 800 |
| SAVE | PUT | SWEEP | BEARISH | 01/17/25 | $0.84 | $0.5 | $0.78 | $1.50 | $281.1K | 15.7K | 3.6K |
| SAVE | PUT | TRADE | NEUTRAL | 01/16/26 | $13.45 | $9.2 | $11.5 | $12.50 | $172.5K | 393 | 150 |
| SAVE | PUT | SWEEP | BEARISH | 12/20/24 | $0.61 | $0.55 | $0.61 | $1.50 | $152.5K | 9.1K | 2.7K |
| SAVE | PUT | TRADE | NEUTRAL | 06/20/25 | $0.69 | $0.4 | $0.55 | $1.00 | $99.7K | 794 | 2.2K |
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.
Current Position of Spirit Airlines
- With a volume of 14,670,477, the price of SAVE is down -25.89% at $1.66.
- RSI indicators hint that the underlying stock may be oversold.
- Next earnings are expected to be released in 20 days.
Unusual Options Activity Detected: Smart Money on the Move
Benzinga Edge's Unusual Options board spots potential market movers before they happen. See what positions big money is taking on your favorite stocks. Click here for access.
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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