27% profits every 20 days?
This is what Nic Chahine averages with his options buys. Not selling covered calls or spreads... BUYING options. Most traders don't even have a winning percentage of 27% buying options. He has an 83% win rate. Here's how he does it.
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 11 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 45% leaning bullish and 54% bearish. Among these notable options, 6 are puts, totaling $291,874, and 5 are calls, amounting to $242,436.
What's The Price Target?
Taking into account the Volume and Open Interest on these contracts, it appears that whales have been targeting a price range from $30.0 to $70.0 for Delta Air Lines over the last 3 months.
Analyzing Volume & Open Interest
In terms of liquidity and interest, the mean open interest for Delta Air Lines options trades today is 7920.86 with a total volume of 28,409.00.
In the following chart, we are able to follow the development of volume and open interest of call and put options for Delta Air Lines's big money trades within a strike price range of $30.0 to $70.0 over 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 | Strike Price | Total Trade Price | Open Interest | Volume |
|---|---|---|---|---|---|---|---|---|
| DAL | PUT | SWEEP | BULLISH | 03/22/24 | $44.50 | $76.0K | 16 | 4.6K |
| DAL | PUT | TRADE | BEARISH | 03/22/24 | $44.50 | $74.4K | 16 | 2.6K |
| DAL | CALL | SWEEP | BULLISH | 03/15/24 | $30.00 | $60.0K | 1.8K | 42 |
| DAL | CALL | SWEEP | BULLISH | 04/19/24 | $45.00 | $54.2K | 30.9K | 15.8K |
| DAL | CALL | SWEEP | BULLISH | 04/19/24 | $42.00 | $54.0K | 22.0K | 216 |
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.
Where Is Delta Air Lines Standing Right Now?
- With a trading volume of 5,831,266, the price of DAL is down by -0.35%, reaching $42.61.
- Current RSI values indicate that the stock is may be overbought.
- Next earnings report is scheduled for 29 days from now.
Options trading presents higher risks and potential rewards. Astute traders manage these risks by continually educating themselves, adapting their strategies, monitoring multiple indicators, and keeping a close eye on market movements. Stay informed about the latest Delta Air Lines options trades with real-time alerts from Benzinga Pro.
27% profits every 20 days?
This is what Nic Chahine averages with his options buys. Not selling covered calls or spreads... BUYING options. Most traders don't even have a winning percentage of 27% buying options. He has an 83% win rate. Here's how he does it.
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