Looking At Delta Air Lines's Recent Unusual Options Activity

Author: Benzinga Insights | August 02, 2024 01:46pm

Financial giants have made a conspicuous bearish move on Delta Air Lines. Our analysis of options history for Delta Air Lines (NYSE:DAL) revealed 9 unusual trades.

Delving into the details, we found 44% of traders were bullish, while 55% showed bearish tendencies. Out of all the trades we spotted, 7 were puts, with a value of $538,765, and 2 were calls, valued at $133,236.

Expected Price Movements

Taking into account the Volume and Open Interest on these contracts, it appears that whales have been targeting a price range from $25.0 to $42.0 for Delta Air Lines over the last 3 months.

Analyzing 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 $25.0 to $42.0, over the past month.

Delta Air Lines 30-Day Option Volume & Interest Snapshot

Noteworthy Options Activity:

Symbol	PUT/CALL	Trade Type	Sentiment	Exp. Date	Ask	Bid	Price	Strike Price	Total Trade Price	Open Interest	Volume
DAL	PUT	SWEEP	BULLISH	08/02/24	$0.27	$0.25	$0.26	$40.00	$166.6K	1.3K	17
DAL	PUT	SWEEP	BEARISH	09/20/24	$2.17	$2.0	$2.0	$40.00	$129.8K	7.6K	2
DAL	CALL	SWEEP	BULLISH	09/06/24	$1.2	$1.19	$1.19	$42.00	$94.4K	8	843
DAL	PUT	SWEEP	BEARISH	11/15/24	$1.63	$1.57	$1.63	$36.00	$84.7K	87	522
DAL	PUT	TRADE	BEARISH	08/30/24	$2.9	$0.62	$2.03	$41.00	$53.1K	83	262

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.

After a thorough review of the options trading surrounding Delta Air Lines, we move to examine the company in more detail. This includes an assessment of its current market status and performance.

Where Is Delta Air Lines Standing Right Now?

• Currently trading with a volume of 4,671,929, the DAL's price is down by -3.95%, now at $39.86.
• RSI readings suggest the stock is currently is currently neutral between overbought and oversold.
• Anticipated earnings release is in 69 days.

What The Experts Say On Delta Air Lines

2 market experts have recently issued ratings for this stock, with a consensus target price of $60.5.

• Consistent in their evaluation, an analyst from Bernstein keeps a Outperform rating on Delta Air Lines with a target price of $62.
• Maintaining their stance, an analyst from TD Cowen continues to hold a Buy rating for Delta Air Lines, targeting a price of $59.

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