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 8 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 25% leaning bullish and 62% bearish. Among these notable options, 2 are puts, totaling $136,088, and 6 are calls, amounting to $427,379.
Expected Price Movements
Based on the trading activity, it appears that the significant investors are aiming for a price territory stretching from $40.0 to $70.0 for Delta Air Lines over the recent three months.
Insights into 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 $40.0 to $70.0, over the past month.
Delta Air Lines Call and Put Volume: 30-Day Overview
Noteworthy Options Activity:
| Symbol | PUT/CALL | Trade Type | Sentiment | Exp. Date | Ask | Bid | Price | Strike Price | Total Trade Price | Open Interest | Volume |
|---|---|---|---|---|---|---|---|---|---|---|---|
| DAL | CALL | SWEEP | BULLISH | 10/04/24 | $8.7 | $8.65 | $8.7 | $40.00 | $121.8K | 31 | 368 |
| DAL | PUT | SWEEP | BEARISH | 10/04/24 | $0.8 | $0.79 | $0.79 | $49.00 | $104.4K | 782 | 1.3K |
| DAL | CALL | SWEEP | BEARISH | 10/04/24 | $8.75 | $8.45 | $8.45 | $40.00 | $101.4K | 31 | 141 |
| DAL | CALL | SWEEP | BEARISH | 10/18/24 | $3.2 | $3.1 | $3.1 | $46.50 | $82.7K | 113 | 0 |
| DAL | CALL | SWEEP | BEARISH | 11/15/24 | $2.65 | $2.61 | $2.61 | $49.00 | $45.4K | 1.5K | 227 |
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.
Current Position of Delta Air Lines
- With a trading volume of 2,404,838, the price of DAL is down by -3.02%, reaching $48.45.
- Current RSI values indicate that the stock is may be approaching overbought.
- Next earnings report is scheduled for 8 days from now.
Turn $1000 into $1270 in just 20 days?
20-year pro options trader reveals his one-line chart technique that shows when to buy and sell. Copy his trades, which have had averaged a 27% profit every 20 days. Click here for access.
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.
Comments
Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.
