High-rolling investors have positioned themselves bearish on Delta Air Lines DAL, and it's important for retail traders to take note. \This activity came to our attention today through Benzinga's tracking of publicly available options data. The identities of these investors are uncertain, but such a significant move in DAL often signals that someone has privileged information.
Today, Benzinga's options scanner spotted 9 options trades for Delta Air Lines. This is not a typical pattern.
The sentiment among these major traders is split, with 33% bullish and 66% bearish. Among all the options we identified, there was one put, amounting to $46,560, and 8 calls, totaling $376,050.
Projected Price Targets
Taking into account the Volume and Open Interest on these contracts, it appears that whales have been targeting a price range from $33.0 to $41.0 for Delta Air Lines over the last 3 months.
Volume & Open Interest Development
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 $33.0 to $41.0 over the preceding 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 | CALL | SWEEP | BEARISH | 09/20/24 | $33.00 | $151.9K | 1.0K | 184 |
| DAL | PUT | SWEEP | BULLISH | 12/19/25 | $37.00 | $46.5K | 514 | 96 |
| DAL | CALL | SWEEP | BULLISH | 02/02/24 | $40.00 | $42.6K | 2.0K | 2.0K |
| DAL | CALL | SWEEP | BULLISH | 02/02/24 | $40.00 | $40.3K | 2.0K | 2.0K |
| DAL | CALL | SWEEP | BEARISH | 09/20/24 | $41.00 | $32.2K | 281 | 96 |
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.
Having examined the options trading patterns of Delta Air Lines, our attention now turns directly to the company. This shift allows us to delve into its present market position and performance
Delta Air Lines's Current Market Status
- Trading volume stands at 2,228,788, with DAL's price down by -0.23%, positioned at $39.43.
- RSI indicators show the stock to be may be approaching overbought.
- Earnings announcement expected in 71 days.
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.
Date of Trade | ticker | Put/Call | Strike Price | DTE | Sentiment |
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