Investors with a lot of money to spend have taken a bullish stance on Spirit Airlines SAVE.
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 this is an institution or just a wealthy individual, we don't know. But when something this big happens with SAVE, it often means somebody knows something is about to happen.
Today, Benzinga's options scanner spotted 13 options trades for Spirit Airlines.
This isn't normal.
The overall sentiment of these big-money traders is split between 53% bullish and 46%, bearish.
Out of all of the options we uncovered, 12 are puts, for a total amount of $2,631,276, and there was 1 call, for a total amount of $31,000.
Expected Price Movements
After evaluating the trading volumes and Open Interest, it's evident that the major market movers are focusing on a price band between $4.5 and $9.0 for Spirit Airlines, spanning the last three months.
Volume & Open Interest Trends
Looking at the volume and open interest is an insightful way to conduct due diligence on a stock.
This data can help you track the liquidity and interest for Spirit Airlines's options for a given strike price.
Below, we can observe the evolution of the volume and open interest of calls and puts, respectively, for all of Spirit Airlines's whale activity within a strike price range from $4.5 to $9.0 in the last 30 days.
Spirit Airlines Call and Put Volume: 30-Day Overview
Largest Options Trades Observed:
| Symbol | PUT/CALL | Trade Type | Sentiment | Exp. Date | Strike Price | Total Trade Price | Open Interest | Volume |
|---|---|---|---|---|---|---|---|---|
| SAVE | PUT | TRADE | BULLISH | 06/20/25 | $5.00 | $2.0M | 44.4K | 8.5K |
| SAVE | PUT | SWEEP | BULLISH | 03/15/24 | $5.00 | $87.5K | 32.4K | 7.6K |
| SAVE | PUT | SWEEP | BULLISH | 03/15/24 | $5.00 | $82.5K | 32.4K | 6.3K |
| SAVE | PUT | SWEEP | BEARISH | 04/05/24 | $9.00 | $57.6K | 0 | 120 |
| SAVE | PUT | SWEEP | BULLISH | 03/15/24 | $5.00 | $55.0K | 32.4K | 4.9K |
About Spirit Airlines
Spirit Airlines Inc serves the United States, Latin America, and Caribbean as an airline operator. It primarily offers customers unbundled base fares to strip out any unneeded travel amenities. If needed, a customer can elect for additional options at an extra charge. Flight crews are entirely interchangeable across all aircraft, and maintenance and other support services are simplified due to not having an overly complex fleet. The company has one operating segment, air transportation, owing to its system wide route structure. It may decide to expand its network if a market is underserved or overpriced. The majority of revenue is derived from the United States.
After a thorough review of the options trading surrounding Spirit Airlines, we move to examine the company in more detail. This includes an assessment of its current market status and performance.
Present Market Standing of Spirit Airlines
- Currently trading with a volume of 7,724,127, the SAVE's price is up by 0.46%, now at $4.33.
- RSI readings suggest the stock is currently may be oversold.
- Anticipated earnings release is in 40 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 Spirit Airlines, 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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