Deep-pocketed investors have adopted a bullish 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 20 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 60% leaning bullish and 40% bearish. Among these notable options, 5 are puts, totaling $595,859, and 15 are calls, amounting to $801,738.
Expected Price Movements
Taking into account the Volume and Open Interest on these contracts, it appears that whales have been targeting a price range from $28.0 to $45.0 for Delta Air Lines over the last 3 months.
Insights into Volume & Open Interest
In terms of liquidity and interest, the mean open interest for Delta Air Lines options trades today is 4902.4 with a total volume of 10,908.00.
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 $28.0 to $45.0 over the last 30 days.
Delta Air Lines 30-Day Option Volume & Interest Snapshot
Largest Options Trades Observed:
| Symbol | PUT/CALL | Trade Type | Sentiment | Exp. Date | Strike Price | Total Trade Price | Open Interest | Volume |
|---|---|---|---|---|---|---|---|---|
| DAL | PUT | TRADE | BEARISH | 04/19/24 | $40.00 | $388.0K | 2.4K | 2.0K |
| DAL | PUT | SWEEP | BULLISH | 03/15/24 | $38.00 | $113.1K | 1.4K | 1.3K |
| DAL | CALL | TRADE | BULLISH | 06/21/24 | $32.00 | $101.7K | 3.3K | 4 |
| DAL | CALL | SWEEP | NEUTRAL | 01/12/24 | $38.00 | $88.5K | 2.3K | 5 |
| DAL | CALL | TRADE | BULLISH | 06/21/24 | $37.00 | $71.0K | 1.4K | 0 |
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.
Where Is Delta Air Lines Standing Right Now?
- Trading volume stands at 7,746,654, with DAL's price up by 3.47%, positioned at $41.95.
- RSI indicators show the stock to be may be approaching overbought.
- Earnings announcement expected in 4 days.
Options trading presents higher risks and potential rewards. Astute traders manage these risks by continually educating themselves, adapting their strategies, monitoring multiple indicators, and keeping a close eye on market movements. Stay informed about the latest Delta Air Lines options trades with real-time alerts from Benzinga Pro.
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