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RB Trader Sees Unusual Options Activity In Delta Air Lines

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With oil getting sold off hard again Monday, airline stocks are feeling the benefit. Shares of Delta Air Lines, Inc. (NYSE: DAL) are also seeing some unusual option activity, according to RB Trader, with the December 46.50 puts putting up a print through the offer for 15,700 contracts at 1.01. The total dollar amount on the trade was for just over 1.5 million dollars, and the 15,700 contracts was 73.71 times the existing open interest of 213.

With Delta is holding an Investor Day conference on December 11, the buyer of these puts may be protecting a large stock position in front of the Investor Day.

With oil on the lows and Delta Air Lines making fresh new highs, however, it may just be a second derivative way to play a rebound in oil prices over the next several weeks.

Posted-In: Options Intraday Update Markets Movers


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