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 11 uncommon options trades for Delta Air Lines.
This isn't normal.
The overall sentiment of these big-money traders is split between 27% bullish and 63%, bearish.
Out of all of the special options we uncovered, 6 are puts, for a total amount of $311,149, and 5 are calls, for a total amount of $503,280.
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 $40.0 and $70.0 for Delta Air Lines, spanning the last three months.
Analyzing Volume & Open Interest
Looking at the volume and open interest is an insightful way to conduct due diligence on a stock.
This data can help you track the liquidity and interest for Delta Air Lines's options for a given strike price.
Below, we can observe the evolution of the volume and open interest of calls and puts, respectively, for all of Delta Air Lines's whale activity within a strike price range from $40.0 to $70.0 in the last 30 days.
Delta Air Lines Option Volume And Open Interest Over Last 30 Days
Largest Options Trades Observed:
| Symbol | PUT/CALL | Trade Type | Sentiment | Exp. Date | Ask | Bid | Price | Strike Price | Total Trade Price | Open Interest | Volume |
|---|---|---|---|---|---|---|---|---|---|---|---|
| DAL | CALL | SWEEP | BEARISH | 09/20/24 | $1.78 | $1.77 | $1.78 | $57.50 | $176.8K | 1.7K | 993 |
| DAL | CALL | TRADE | BULLISH | 09/20/24 | $13.35 | $13.3 | $13.37 | $40.00 | $133.7K | 3.4K | 175 |
| DAL | CALL | SWEEP | BULLISH | 09/20/24 | $13.4 | $13.3 | $13.4 | $40.00 | $100.5K | 3.4K | 75 |
| DAL | PUT | SWEEP | BEARISH | 03/21/25 | $2.44 | $2.39 | $2.44 | $45.00 | $81.5K | 164 | 334 |
| DAL | PUT | SWEEP | BEARISH | 06/20/25 | $3.0 | $2.75 | $3.0 | $45.00 | $60.0K | 1.9K | 200 |
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. Delta has historically earned the greatest portion of its international revenue and profits from flying passengers over the Atlantic Ocean.
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.
Present Market Standing of Delta Air Lines
- Trading volume stands at 2,598,358, with DAL's price down by -0.51%, positioned at $52.72.
- RSI indicators show the stock to be may be approaching overbought.
- Earnings announcement expected in 51 days.
What Analysts Are Saying About Delta Air Lines
A total of 1 professional analysts have given their take on this stock in the last 30 days, setting an average price target of $72.8.
- In a cautious move, an analyst from HSBC downgraded its rating to Buy, setting a price target of $72.
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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