Financial giants have made a conspicuous bullish move on Spirit Airlines. Our analysis of options history for Spirit Airlines SAVE revealed 16 unusual trades.
Delving into the details, we found 56% of traders were bullish, while 43% showed bearish tendencies. Out of all the trades we spotted, 5 were puts, with a value of $1,186,422, and 11 were calls, valued at $667,720.
Expected Price Movements
Based on the trading activity, it appears that the significant investors are aiming for a price territory stretching from $10.0 to $27.5 for Spirit Airlines over the recent three months.
Volume & Open Interest Trends
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 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 trades within a strike price range from $10.0 to $27.5 in the last 30 days.
Spirit Airlines Option Volume And Open Interest Over Last 30 Days
Largest Options Trades Observed:
| Symbol | PUT/CALL | Trade Type | Sentiment | Exp. Date | Strike Price | Total Trade Price | Open Interest | Volume |
|---|---|---|---|---|---|---|---|---|
| SAVE | PUT | TRADE | BULLISH | 01/19/24 | $16.50 | $887.5K | 215 | 2.5K |
| SAVE | PUT | TRADE | BEARISH | 01/19/24 | $12.50 | $218.8K | 34.2K | 2.9K |
| SAVE | CALL | TRADE | BULLISH | 03/15/24 | $27.50 | $184.0K | 1.7K | 2.0K |
| SAVE | CALL | TRADE | BEARISH | 02/16/24 | $12.50 | $109.5K | 1.1K | 1 |
| SAVE | CALL | TRADE | BULLISH | 01/19/24 | $16.50 | $85.8K | 404 | 278 |
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.
In light of the recent options history for Spirit Airlines, it's now appropriate to focus on the company itself. We aim to explore its current performance.
Spirit Airlines's Current Market Status
- Currently trading with a volume of 2,062,249, the SAVE's price is down by 0.0%, now at $16.39.
- RSI readings suggest the stock is currently may be overbought.
- Anticipated earnings release is in 34 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 want to stay updated on the latest options trades for Spirit Airlines, Benzinga Pro gives you real-time options trades alerts.
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