Delta Air Lines Options Trading: A Deep Dive into Market Sentiment

Author: Benzinga Insights | July 12, 2024 03:01pm

Financial giants have made a conspicuous bullish move on Delta Air Lines. Our analysis of options history for Delta Air Lines (NYSE:DAL) revealed 25 unusual trades.

Delving into the details, we found 40% of traders were bullish, while 36% showed bearish tendencies. Out of all the trades we spotted, 15 were puts, with a value of $836,066, and 10 were calls, valued at $479,635.

Predicted Price Range

After evaluating the trading volumes and Open Interest, it's evident that the major market movers are focusing on a price band between $15.0 and $57.5 for Delta Air Lines, spanning the last three months.

Insights into Volume & Open Interest

Examining the volume and open interest provides crucial insights into stock research. This information is key in gauging liquidity and interest levels for Delta Air Lines's options at certain strike prices. Below, we present a snapshot of the trends in volume and open interest for calls and puts across Delta Air Lines's significant trades, within a strike price range of $15.0 to $57.5, over the past month.

Delta Air Lines Call and Put Volume: 30-Day Overview

Significant Options Trades Detected:

Symbol	PUT/CALL	Trade Type	Sentiment	Exp. Date	Ask	Bid	Price	Strike Price	Total Trade Price	Open Interest	Volume
DAL	PUT	SWEEP	BULLISH	12/20/24	$10.95	$10.85	$10.85	$55.00	$172.5K	231	0
DAL	PUT	TRADE	BULLISH	10/18/24	$3.05	$2.92	$2.93	$45.00	$87.9K	1.6K	56
DAL	PUT	TRADE	BULLISH	01/16/26	$7.6	$7.45	$7.45	$47.00	$80.4K	2.1K	1
DAL	CALL	TRADE	BEARISH	07/19/24	$1.58	$1.53	$1.53	$43.00	$69.6K	665	41
DAL	PUT	SWEEP	NEUTRAL	01/16/26	$11.05	$10.7	$10.9	$52.50	$65.4K	295	3

About Delta Air Lines

Atlanta-based Delta Air Lines is one of the world's largest airlines, with a network of over 300 destinations in more than 50 countries. Delta operates a hub-and-spoke network, where it gathers and distributes passengers across the globe through its biggest hubs in Atlanta, New York, Salt Lake City, Detroit, Seattle, and Minneapolis-St. Paul. Delta has historically earned the greatest portion of its international revenue and profits from flying passengers over the Atlantic Ocean.

Following our analysis of the options activities associated with Delta Air Lines, we pivot to a closer look at the company's own performance.

Present Market Standing of Delta Air Lines

• Currently trading with a volume of 11,610,011, the DAL's price is down by -2.46%, now at $43.88.
• RSI readings suggest the stock is currently may be oversold.
• Anticipated earnings release is in 90 days.

What Analysts Are Saying About Delta Air Lines

3 market experts have recently issued ratings for this stock, with a consensus target price of $59.666666666666664.

• An analyst from TD Cowen has decided to maintain their Buy rating on Delta Air Lines, which currently sits at a price target of $61.
• An analyst from Jefferies has decided to maintain their Buy rating on Delta Air Lines, which currently sits at a price target of $56.
• An analyst from Bernstein has decided to maintain their Outperform rating on Delta Air Lines, which currently sits at a price target of $62.

Options trading presents higher risks and potential rewards. Astute traders manage these risks by continually educating themselves, adapting their strategies, monitoring multiple indicators, and keeping a close eye on market movements. Stay informed about the latest Delta Air Lines options trades with real-time alerts from Benzinga Pro.

Posted In: DAL