Investors with a lot of money to spend have taken a bearish stance on Delta Air Lines DAL.
And retail traders should know.
We noticed this today when the trades showed up on publicly available options history that we track here at Benzinga.
Whether these are institutions or just wealthy individuals, we don't know. But when something this big happens with DAL, it often means somebody knows something is about to happen.
So how do we know what these investors just did?
Today, Benzinga's options scanner spotted 21 uncommon options trades for Delta Air Lines.
This isn't normal.
The overall sentiment of these big-money traders is split between 28% bullish and 71%, bearish.
Out of all of the special options we uncovered, 4 are puts, for a total amount of $229,224, and 17 are calls, for a total amount of $1,075,779.
Expected Price Movements
Based on the trading activity, it appears that the significant investors are aiming for a price territory stretching from $32.0 to $57.5 for Delta Air Lines over the recent three months.
Insights into Volume & Open Interest
In terms of liquidity and interest, the mean open interest for Delta Air Lines options trades today is 2028.7 with a total volume of 9,069.00.
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 $32.0 to $57.5 over the last 30 days.
Delta Air Lines Call and Put Volume: 30-Day Overview
Biggest Options Spotted:
| Symbol | PUT/CALL | Trade Type | Sentiment | Exp. Date | Strike Price | Total Trade Price | Open Interest | Volume |
|---|---|---|---|---|---|---|---|---|
| DAL | CALL | SWEEP | BEARISH | 12/15/23 | $35.00 | $280.0K | 9.5K | 500 |
| DAL | PUT | SWEEP | BEARISH | 04/19/24 | $48.00 | $111.4K | 0 | 167 |
| DAL | CALL | SWEEP | BULLISH | 06/21/24 | $32.00 | $108.0K | 2.8K | 100 |
| DAL | CALL | TRADE | NEUTRAL | 06/21/24 | $32.00 | $100.5K | 2.8K | 0 |
| DAL | CALL | SWEEP | BEARISH | 12/15/23 | $35.00 | $69.2K | 9.5K | 883 |
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.
Having examined the options trading patterns of Delta Air Lines, our attention now turns directly to the company. This shift allows us to delve into its present market position and performance
Present Market Standing of Delta Air Lines
- With a trading volume of 3,375,852, the price of DAL is down by -0.82%, reaching $40.9.
- Current RSI values indicate that the stock is may be overbought.
- Next earnings report is scheduled for 30 days from now.
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 Delta Air Lines, 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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