Benzinga's options scanner has just identified more than 16 option transactions on Spirit Airlines SAVE, with a cumulative value of $711,819. Concurrently, our algorithms picked up 5 puts, worth a total of 222,421.
Predicted Price Range
Based on the trading activity, it appears that the significant investors are aiming for a price territory stretching from $5.0 to $25.0 for Spirit Airlines over the recent three months.
Analyzing Volume & Open Interest
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 Spirit Airlines'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 Spirit Airlines's whale activity within a strike price range from $5.0 to $25.0 in the last 30 days.
Spirit Airlines Option Volume And Open Interest Over Last 30 Days
Significant Options Trades Detected:
Symbol | PUT/CALL | Trade Type | Sentiment | Exp. Date | Strike Price | Total Trade Price | Open Interest | Volume |
---|---|---|---|---|---|---|---|---|
SAVE | CALL | SWEEP | BULLISH | 01/19/24 | $17.50 | $137.3K | 14.6K | 469 |
SAVE | CALL | SWEEP | BEARISH | 01/19/24 | $12.50 | $125.0K | 7.0K | 308 |
SAVE | CALL | TRADE | BULLISH | 01/19/24 | $20.00 | $102.5K | 64.0K | 1.8K |
SAVE | CALL | SWEEP | BULLISH | 01/19/24 | $10.00 | $71.9K | 1.2K | 115 |
SAVE | PUT | TRADE | BULLISH | 01/17/25 | $7.50 | $60.6K | 1.1K | 445 |
About Spirit Airlines
Spirit Airlines Inc serves the United States, Latin America, and Caribbean as an airline operator. It primarily offers customers unbundled base fares to strip out any unneeded travel amenities. If needed, a customer can elect for additional options at an extra charge. Flight crews are entirely interchangeable across all aircraft, and maintenance and other support services are simplified due to not having an overly complex fleet. The company has one operating segment, air transportation, owing to its system wide route structure. It may decide to expand its network if a market is underserved or overpriced. The majority of revenue is derived from the United States.
After a thorough review of the options trading surrounding Spirit Airlines, we move to examine the company in more detail. This includes an assessment of its current market status and performance.
Current Position of Spirit Airlines
- Trading volume stands at 3,699,443, with SAVE's price up by 0.59%, positioned at $13.54.
- RSI indicators show the stock to be may be approaching overbought.
- Earnings announcement expected in 69 days.
Expert Opinions on Spirit Airlines
Over the past month, 1 industry analysts have shared their insights on this stock, proposing an average target price of $13.0.
- Consistent in their evaluation, an analyst from Citigroup keeps a Neutral rating on Spirit Airlines with a target price of $13.
Trading options involves greater risks but also offers the potential for higher profits. Savvy traders mitigate these risks through ongoing education, strategic trade adjustments, utilizing various indicators, and staying attuned to market dynamics. Keep up with the latest options trades for Spirit Airlines with Benzinga Pro for real-time alerts.
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