Delta Air Lines's Options Frenzy: What You Need to Know

Investors with a lot of money to spend have taken a bullish 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 14 uncommon options trades for Delta Air Lines.

This isn't normal.

The overall sentiment of these big-money traders is split between 57% bullish and 35%, bearish.

Out of all of the special options we uncovered, 4 are puts, for a total amount of $221,586, and 10 are calls, for a total amount of $512,359.

Expected Price Movements

Analyzing the Volume and Open Interest in these contracts, it seems that the big players have been eyeing a price window from $45.0 to $70.0 for Delta Air Lines during the past quarter.

Volume & Open Interest Development

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 $45.0 to $70.0, over the past month.

Delta Air Lines Call and Put Volume: 30-Day Overview

Significant Options Trades Detected:

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 most of its international revenue and profits from flying passengers over the Atlantic Ocean.

Current Position of Delta Air Lines

• With a volume of 1,410,158, the price of DAL is down -0.11% at $63.75.
• RSI indicators hint that the underlying stock may be approaching overbought.
• Next earnings are expected to be released in 39 days.

What Analysts Are Saying About Delta Air Lines

5 market experts have recently issued ratings for this stock, with a consensus target price of $78.8.

Unusual Options Activity Detected: Smart Money on the Move

Benzinga Edge's Unusual Options board spots potential market movers before they happen. See what positions big money is taking on your favorite stocks. Click here for access. * Maintaining their stance, an analyst from Jefferies continues to hold a Buy rating for Delta Air Lines, targeting a price of $72. * Reflecting concerns, an analyst from Goldman Sachs lowers its rating to Buy with a new price target of $83. * Consistent in their evaluation, an analyst from TD Cowen keeps a Buy rating on Delta Air Lines with a target price of $75. * An analyst from UBS downgraded its action to Buy with a price target of $88. * Maintaining their stance, an analyst from Citigroup continues to hold a Buy rating for Delta Air Lines, targeting a price of $76.

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.