Delta Air Lines Whale Trades For April 19

Delta Air Lines Whale Trades For April 19

Someone with a lot of money to spend has taken a bearish 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 24 uncommon options trades for Delta Air Lines.

This isn't normal.

The overall sentiment of these big-money traders is split between 45% bullish and 54%, bearish.

Out of all of the special options we uncovered, 12 are puts, for a total amount of $791,291, and 12 are calls, for a total amount of $655,906.

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 $60.0 for Delta Air Lines over the last 3 months.

Volume & Open Interest Development

Looking at the volume and open interest is a powerful move while trading options. This data can help you track the liquidity and interest for Delta Air Lines'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 Delta Air Lines's whale trades within a strike price range from $30.0 to $60.0 in 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 SWEEP BULLISH 09/16/22 $40.00 $204.0K 8.4K 1.1K
DAL PUT SWEEP BULLISH 01/20/23 $60.00 $153.5K 261 87
DAL PUT SWEEP BULLISH 09/16/22 $45.00 $91.0K 781 176
DAL PUT SWEEP BEARISH 09/16/22 $30.00 $84.1K 4.7K 1.0K
DAL PUT SWEEP BULLISH 09/16/22 $40.00 $74.0K 1.5K 261

Symbol PUT/CALL Trade Type Sentiment Exp. Date Strike Price Total Trade Price Open Interest Volume
DAL CALL SWEEP BULLISH 09/16/22 $40.00 $204.0K 8.4K 1.1K
DAL PUT SWEEP BULLISH 01/20/23 $60.00 $153.5K 261 87
DAL PUT SWEEP BULLISH 09/16/22 $45.00 $91.0K 781 176
DAL PUT SWEEP BEARISH 09/16/22 $30.00 $84.1K 4.7K 1.0K
DAL PUT SWEEP BULLISH 09/16/22 $40.00 $74.0K 1.5K 261

Where Is Delta Air Lines Standing Right Now?

  • With a volume of 13,639,421, the price of DAL is up 2.61% at $43.23.
  • RSI indicators hint that the underlying stock may be overbought.
  • Next earnings are expected to be released in 85 days.

What The Experts Say On Delta Air Lines:

  • Goldman Sachs has decided to maintain their Neutral rating on Delta Air Lines, which currently sits at a price target of $44.
  • Morgan Stanley has decided to maintain their Overweight rating on Delta Air Lines, which currently sits at a price target of $65.
  • UBS upgraded its action to Buy with a price target of $53
  • Barclays upgraded its action to Overweight with a price target of $60

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.

Posted In: BZI-UOAOptionsMarkets