Delta Air Lines Whale Trades Spotted

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 12 uncommon options trades for Delta Air Lines.

This isn't normal.

The overall sentiment of these big-money traders is split between 41% bullish and 58%, bearish.

Out of all of the special options we uncovered, 4 are puts, for a total amount of $304,390, and 8 are calls, for a total amount of $1,241,810.

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 $20.0 to $46.0 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 $20.0 to $46.0 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 TRADE BULLISH 06/17/22 $37.00 $839.4K 2.7K 791
DAL CALL SWEEP BULLISH 01/20/23 $35.00 $156.9K 7.2K 175
DAL PUT SWEEP BEARISH 09/16/22 $46.00 $130.8K 355 213
DAL PUT SWEEP BULLISH 05/20/22 $42.50 $106.9K 10.6K 1.1K
DAL CALL SWEEP BEARISH 06/17/22 $44.00 $56.0K 7.7K 257

Symbol PUT/CALL Trade Type Sentiment Exp. Date Strike Price Total Trade Price Open Interest Volume
DAL CALL TRADE BULLISH 06/17/22 $37.00 $839.4K 2.7K 791
DAL CALL SWEEP BULLISH 01/20/23 $35.00 $156.9K 7.2K 175
DAL PUT SWEEP BEARISH 09/16/22 $46.00 $130.8K 355 213
DAL PUT SWEEP BULLISH 05/20/22 $42.50 $106.9K 10.6K 1.1K
DAL CALL SWEEP BEARISH 06/17/22 $44.00 $56.0K 7.7K 257

Where Is Delta Air Lines Standing Right Now?

  • With a volume of 5,835,097, the price of DAL is down -3.14% at $41.91.
  • RSI indicators hint that the underlying stock may be approaching overbought.
  • Next earnings are expected to be released in 78 days.

What The Experts Say On Delta Air Lines:

  • UBS upgraded its action to Buy with a price target of $53
  • Morgan Stanley has decided to maintain their Overweight rating on Delta Air Lines, which currently sits at a price target of $65.
  • Barclays upgraded its action to Overweight with a price target of $60
  • Goldman Sachs has decided to maintain their Neutral rating on Delta Air Lines, which currently sits at a price target of $44.
  • JP Morgan has decided to maintain their Overweight rating on Delta Air Lines, which currently sits at a price target of $70.

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 {d[company_name]}, Benzinga Progives you real-time options trades alerts.

Posted In: BZI-UOAOptionsMarkets