A Closer Look at Delta Air Lines's Options Market Dynamics

Author: Benzinga Insights | April 12, 2024 10:33am

Investors with a lot of money to spend have taken a bearish stance on Delta Air Lines (NYSE:DAL).

And retail traders should know.

We noticed this today when the positions 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.

Today, Benzinga's options scanner spotted 13 options trades for Delta Air Lines.

This isn't normal.

The overall sentiment of these big-money traders is split between 23% bullish and 76%, bearish.

Out of all of the options we uncovered, there was 1 put, for a total amount of $30,810, and 12, calls, for a total amount of $656,096.

Projected Price Targets

After evaluating the trading volumes and Open Interest, it's evident that the major market movers are focusing on a price band between $28.0 and $70.0 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 $28.0 to $70.0, over the past month.

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

Significant Options Trades Detected:

Symbol	PUT/CALL	Trade Type	Sentiment	Exp. Date	Ask	Bid	Price	Strike Price	Total Trade Price	Open Interest	Volume
DAL	CALL	SWEEP	BEARISH	01/17/25	$2.75	$2.63	$2.63	$55.00	$98.5K	2.7K	10
DAL	CALL	TRADE	BULLISH	06/20/25	$6.0	$5.95	$6.0	$50.00	$73.2K	536	122
DAL	CALL	SWEEP	BEARISH	06/20/25	$5.05	$4.9	$4.9	$52.50	$73.0K	3.8K	149
DAL	CALL	SWEEP	BEARISH	01/17/25	$2.72	$2.64	$2.64	$55.00	$56.7K	2.7K	385
DAL	CALL	SWEEP	BEARISH	05/17/24	$2.16	$2.12	$2.12	$46.00	$53.0K	4.2K	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. Delta has historically earned the greatest portion of its international revenue and profits from flying passengers over the Atlantic Ocean.

Present Market Standing of Delta Air Lines

• With a trading volume of 2,898,806, the price of DAL is down by -1.74%, reaching $46.8.
• Current RSI values indicate that the stock is may be approaching overbought.
• Next earnings report is scheduled for 90 days from now.

What Analysts Are Saying About Delta Air Lines

5 market experts have recently issued ratings for this stock, with a consensus target price of $62.4.

• Consistent in their evaluation, an analyst from Morgan Stanley keeps a Overweight rating on Delta Air Lines with a target price of $85.
• Consistent in their evaluation, an analyst from B of A Securities keeps a Buy rating on Delta Air Lines with a target price of $53.
• An analyst from Susquehanna has decided to maintain their Positive rating on Delta Air Lines, which currently sits at a price target of $55.
• Reflecting concerns, an analyst from UBS lowers its rating to Buy with a new price target of $59.
• An analyst from Deutsche Bank has decided to maintain their Buy rating on Delta Air Lines, which currently sits at a price target of $60.

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.

Posted In: DAL