Delta Air Lines Unusual Options Activity For May 01

Deep-pocketed investors have adopted a bullish approach towards Delta Air Lines 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 8 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 25% leaning bullish and 25% bearish. Among these notable options, 3 are puts, totaling $396,640, and 5 are calls, amounting to $747,860.

Expected Price Movements

Based on the trading activity, it appears that the significant investors are aiming for a price territory stretching from $36.0 to $65.0 for Delta Air Lines over the recent three months.

Volume & Open Interest Trends

In today's trading context, the average open interest for options of Delta Air Lines stands at 2357.67, with a total volume reaching 1,447.00. The accompanying chart delineates the progression of both call and put option volume and open interest for high-value trades in Delta Air Lines, situated within the strike price corridor from $36.0 to $65.0, throughout the last 30 days.

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

Significant Options Trades Detected:

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.

Following our analysis of the options activities associated with Delta Air Lines, we pivot to a closer look at the company's own performance.

Current Position of Delta Air Lines

• With a volume of 7,076,751, the price of DAL is up 0.29% at $50.22.
• RSI indicators hint that the underlying stock may be approaching overbought.
• Next earnings are expected to be released in 71 days.

What The Experts Say On Delta Air Lines

5 market experts have recently issued ratings for this stock, with a consensus target price of $60.4.

• Consistent in their evaluation, an analyst from B of A Securities keeps a Buy rating on Delta Air Lines with a target price of $55.
• Consistent in their evaluation, an analyst from Susquehanna keeps a Positive rating on Delta Air Lines with a target price of $55.
• An analyst from B of A Securities has decided to maintain their Buy rating on Delta Air Lines, which currently sits at a price target of $53.
• Consistent in their evaluation, an analyst from Morgan Stanley keeps a Overweight rating on Delta Air Lines with a target price of $85.
• Maintaining their stance, an analyst from Susquehanna continues to hold a Positive rating for Delta Air Lines, targeting a price of $54.

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.