What Are Whales Doing With Delta Air Lines

Someone with a lot of money to spend has taken a bullish stance on Delta Air Lines DAL.

And retail traders should know.

We noticed this today when the big position 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 DAL, it often means somebody knows something is about to happen.

So how do we know what this whale just did?

Today, Benzinga's options scanner spotted 27 uncommon options trades for Delta Air Lines.

This isn't normal.

The overall sentiment of these big-money traders is split between 62.96% bullish and 37.04%, bearish.

Out of all of the special options we uncovered, 14 are puts, for a total amount of $1,142,449.00, and 13 are calls, for a total amount of $1,722,385.00.

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 $40.0 for Delta Air Lines over the last 3 months.

Volume & Open Interest Development

In terms of liquidity and interest, the mean open interest for Delta Air Lines options trades today is 4711.27 with a total volume of 39,615.00.

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 $40.0 over the last 30 days.

Delta Air Lines Option Volume And Open Interest Over Last 30 Days

Biggest Options Spotted:

Symbol PUT/CALL Trade Type Sentiment Exp. Date Strike Price Total Trade Price Open Interest Volume
DAL CALL TRADE NEUTRAL 12/17/21 $38.00 $1.1M 1.4K 15.2K
DAL PUT SWEEP BULLISH 01/21/22 $33.00 $422.9K 1.4K 2.3K
DAL PUT SWEEP BEARISH 12/17/21 $36.00 $136.0K 6.4K 635
DAL PUT SWEEP BULLISH 04/14/22 $37.00 $102.6K 0 0
DAL CALL SWEEP NEUTRAL 01/19/24 $40.00 $96.3K 1.0K 200

Symbol PUT/CALL Trade Type Sentiment Exp. Date Strike Price Total Trade Price Open Interest Volume
DAL CALL TRADE NEUTRAL 12/17/21 $38.00 $1.1M 1.4K 15.2K
DAL PUT SWEEP BULLISH 01/21/22 $33.00 $422.9K 1.4K 2.3K
DAL PUT SWEEP BEARISH 12/17/21 $36.00 $136.0K 6.4K 635
DAL PUT SWEEP BULLISH 04/14/22 $37.00 $102.6K 0 0
DAL CALL SWEEP NEUTRAL 01/19/24 $40.00 $96.3K 1.0K 200

Where Is Delta Air Lines Standing Right Now?

  • With a volume of 18,889,918.00, the price of DAL is up 8.03% at $36.22.
  • RSI indicators hint that the underlying stock is currently neutral between overbought and oversold.
  • Next earnings are expected to be released in 42 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 are already an options trader or would like to get started, head on over to Benzinga Pro. Benzinga Pro gives you up-to-date news and analytics to empower your investing and trading strategy.

Posted In: BZI-UOAOptionsMarkets

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