Delta Air Lines Unusual Options Activity

Delta Air Lines Unusual Options Activity

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 20 uncommon options trades for Delta Air Lines.

This isn't normal.

The overall sentiment of these big-money traders is split between 30% bullish and 70%, bearish.

Out of all of the special options we uncovered, 4 are puts, for a total amount of $188,690, and 16 are calls, for a total amount of $804,941.

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 $42.0 for Delta Air Lines over the last 3 months.

Volume & Open Interest Development

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 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 activity within a strike price range from $30.0 to $42.0 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 BEARISH 01/20/23 $30.00 $130.2K 7.3K 264
DAL CALL TRADE BULLISH 01/20/23 $32.00 $100.3K 3.6K 234
DAL CALL SWEEP BEARISH 12/16/22 $33.00 $77.0K 3.0K 64
DAL CALL SWEEP BEARISH 01/20/23 $40.00 $75.2K 30.3K 1.5K
DAL PUT TRADE BEARISH 01/19/24 $42.00 $56.1K 2.4K 61

Symbol PUT/CALL Trade Type Sentiment Exp. Date Strike Price Total Trade Price Open Interest Volume
DAL CALL TRADE BEARISH 01/20/23 $30.00 $130.2K 7.3K 264
DAL CALL TRADE BULLISH 01/20/23 $32.00 $100.3K 3.6K 234
DAL CALL SWEEP BEARISH 12/16/22 $33.00 $77.0K 3.0K 64
DAL CALL SWEEP BEARISH 01/20/23 $40.00 $75.2K 30.3K 1.5K
DAL PUT TRADE BEARISH 01/19/24 $42.00 $56.1K 2.4K 61

Where Is Delta Air Lines Standing Right Now?

  • With a volume of 5,863,573, the price of DAL is up 1.3% at $34.34.
  • RSI indicators hint that the underlying stock may be overbought.
  • Next earnings are expected to be released in 77 days.

What The Experts Say On Delta Air Lines:

  • Raymond James has decided to maintain their Strong Buy rating on Delta Air Lines, which currently sits at a price target of $52.
  • Jefferies has decided to maintain their Buy rating on Delta Air Lines, which currently sits at a price target of $40.
  • Cowen & Co. upgraded its action to Outperform with a price target of $54

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 Delta Air Lines, Benzinga Pro gives you real-time options trades alerts.

Posted In: BZI-UOAOptionsMarkets