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 17 uncommon options trades for Delta Air Lines.
This isn't normal.
The overall sentiment of these big-money traders is split between 47% bullish and 52%, bearish.
Out of all of the special options we uncovered, 3 are puts, for a total amount of $358,301, and 14 are calls, for a total amount of $1,173,227.
Expected Price Movements
After evaluating the trading volumes and Open Interest, it's evident that the major market movers are focusing on a price band between $32.0 and $42.5 for Delta Air Lines, spanning the last three months.
Analyzing 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 Delta Air Lines's options at certain strike prices. Below, we present a snapshot of the trends in volume and open interest for calls and puts across Delta Air Lines's significant trades, within a strike price range of $32.0 to $42.5, over the past month.
Delta Air Lines 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 |
|---|---|---|---|---|---|---|---|---|
| DAL | PUT | TRADE | BEARISH | 04/19/24 | $39.00 | $254.8K | 1.7K | 1.3K |
| DAL | CALL | SWEEP | BEARISH | 01/17/25 | $37.00 | $140.8K | 756 | 1 |
| DAL | CALL | SWEEP | BEARISH | 04/19/24 | $37.00 | $119.2K | 1.7K | 1 |
| DAL | CALL | SWEEP | BULLISH | 01/12/24 | $38.00 | $116.5K | 191 | 1.9K |
| DAL | CALL | SWEEP | BULLISH | 01/12/24 | $38.00 | $103.2K | 191 | 1.0K |
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
- Currently trading with a volume of 4,911,291, the DAL's price is up by 1.28%, now at $40.74.
- RSI readings suggest the stock is currently may be approaching overbought.
- Anticipated earnings release is in 10 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.
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