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 23 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 47% leaning bullish and 52% bearish. Among these notable options, 3 are puts, totaling $246,010, and 20 are calls, amounting to $989,112.
Projected Price Targets
Analyzing the Volume and Open Interest in these contracts, it seems that the big players have been eyeing a price window from $32.0 to $47.0 for Delta Air Lines during the past quarter.
Insights into Volume & Open Interest
In terms of liquidity and interest, the mean open interest for Delta Air Lines options trades today is 5391.63 with a total volume of 6,206.00.
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 $47.0 over the last 30 days.
Delta Air Lines Option Activity Analysis: Last 30 Days
Significant Options Trades Detected:
| Symbol | PUT/CALL | Trade Type | Sentiment | Exp. Date | Strike Price | Total Trade Price | Open Interest | Volume |
|---|---|---|---|---|---|---|---|---|
| DAL | PUT | TRADE | BULLISH | 03/15/24 | $42.00 | $131.0K | 1.2K | 0 |
| DAL | CALL | TRADE | BULLISH | 06/21/24 | $32.00 | $109.7K | 3.4K | 0 |
| DAL | CALL | TRADE | BEARISH | 06/21/24 | $32.00 | $106.5K | 3.4K | 215 |
| DAL | PUT | TRADE | BULLISH | 06/21/24 | $45.00 | $88.5K | 289 | 1 |
| DAL | CALL | TRADE | BULLISH | 01/19/24 | $38.00 | $77.6K | 11.8K | 324 |
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.
After a thorough review of the options trading surrounding Delta Air Lines, we move to examine the company in more detail. This includes an assessment of its current market status and performance.
Current Position of Delta Air Lines
- Currently trading with a volume of 5,881,983, the DAL's price is down by -0.8%, now at $42.0.
- RSI readings suggest the stock is currently may be overbought.
- Anticipated earnings release is in 25 days.
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.
Comments
Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.
