High-rolling investors have positioned themselves bullish on Delta Air Lines (NYSE:DAL), and it's important for retail traders to take note.\This activity came to our attention today through Benzinga's tracking of publicly available options data. The identities of these investors are uncertain, but such a significant move in DAL often signals that someone has privileged information.
Today, Benzinga's options scanner spotted 11 options trades for Delta Air Lines. This is not a typical pattern.
The sentiment among these major traders is split, with 54% bullish and 27% bearish. Among all the options we identified, there was one put, amounting to $182,600, and 10 calls, totaling $624,846.
Expected Price Movements
Analyzing the Volume and Open Interest in these contracts, it seems that the big players have been eyeing a price window from $44.0 to $55.0 for Delta Air Lines during the past quarter.
Insights into Volume & Open Interest
In today's trading context, the average open interest for options of Delta Air Lines stands at 9569.56, with a total volume reaching 4,894.00. The accompanying chart delineates the progression of both call and put option volume and open interest for high-value trades in Delta Air Lines, situated within the strike price corridor from $44.0 to $55.0, throughout the last 30 days.
Delta Air Lines Option Activity Analysis: Last 30 Days
Noteworthy Options Activity:
| Symbol | PUT/CALL | Trade Type | Sentiment | Exp. Date | Ask | Bid | Price | Strike Price | Total Trade Price | Open Interest | Volume |
|---|---|---|---|---|---|---|---|---|---|---|---|
| DAL | CALL | SWEEP | NEUTRAL | 01/17/25 | $9.25 | $9.15 | $9.15 | $45.00 | $183.0K | 3.9K | 0 |
| DAL | PUT | TRADE | BULLISH | 09/20/24 | $1.69 | $1.65 | $1.66 | $47.00 | $182.6K | 3.6K | 6 |
| DAL | CALL | SWEEP | BULLISH | 09/20/24 | $8.2 | $8.1 | $8.2 | $44.00 | $78.7K | 2.0K | 17 |
| DAL | CALL | TRADE | NEUTRAL | 09/20/24 | $1.78 | $1.72 | $1.75 | $55.00 | $68.6K | 13.9K | 93 |
| DAL | CALL | TRADE | BEARISH | 08/16/24 | $3.5 | $3.4 | $3.4 | $50.00 | $61.2K | 6.3K | 1.7K |
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.
Current Position of Delta Air Lines
- Currently trading with a volume of 3,799,386, the DAL's price is up by 2.99%, now at $50.77.
- RSI readings suggest the stock is currently is currently neutral between overbought and oversold.
- Anticipated earnings release is in 29 days.
What Analysts Are Saying About Delta Air Lines
A total of 1 professional analysts have given their take on this stock in the last 30 days, setting an average price target of $65.0.
- Maintaining their stance, an analyst from Citigroup continues to hold a Buy rating for Delta Air Lines, targeting a price of $65.
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.