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Deep-pocketed investors have adopted a bearish approach towards Delta Air Lines (NYSE: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 13 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 23% leaning bullish and 76% bearish. Among these notable options, 4 are puts, totaling $459,223, and 9 are calls, amounting to $352,650.
Analyzing the Volume and Open Interest in these contracts, it seems that the big players have been eyeing a price window from $24.0 to $60.0 for Delta Air Lines during the past quarter.
Assessing the volume and open interest is a strategic step in options trading. These metrics shed light on the liquidity and investor interest in Delta Air Lines's options at specified strike prices. The forthcoming data visualizes the fluctuation in volume and open interest for both calls and puts, linked to Delta Air Lines's substantial trades, within a strike price spectrum from $24.0 to $60.0 over the preceding 30 days.
| Symbol | PUT/CALL | Trade Type | Sentiment | Exp. Date | Ask | Bid | Price | Strike Price | Total Trade Price | Open Interest | Volume |
|---|---|---|---|---|---|---|---|---|---|---|---|
| DAL | PUT | TRADE | BEARISH | 06/21/24 | $1.1 | $1.07 | $1.1 | $45.00 | $357.5K | 3.3K | 3.2K |
| DAL | CALL | SWEEP | BULLISH | 09/20/24 | $0.81 | $0.78 | $0.8 | $60.00 | $56.0K | 1.8K | 1.2K |
| DAL | CALL | SWEEP | BEARISH | 05/17/24 | $18.55 | $18.45 | $18.45 | $30.00 | $55.3K | 1 | 36 |
| DAL | PUT | TRADE | BEARISH | 05/17/24 | $0.37 | $0.35 | $0.37 | $44.00 | $44.4K | 2.0K | 15 |
| DAL | CALL | SWEEP | BEARISH | 05/17/24 | $24.3 | $24.2 | $24.2 | $24.00 | $41.1K | 33 | 17 |
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.
In light of the recent options history for Delta Air Lines, it's now appropriate to focus on the company itself. We aim to explore its current performance.
A total of 5 professional analysts have given their take on this stock in the last 30 days, setting an average price target of $61.8.
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.
Posted In: DAL
