High-rolling investors have positioned themselves bearish 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 27% bullish and 63% bearish. Among all the options we identified, there was one put, amounting to $77,000, and 10 calls, totaling $664,685.
Predicted Price Range
Analyzing the Volume and Open Interest in these contracts, it seems that the big players have been eyeing a price window from $30.0 to $45.0 for Delta Air Lines during the past quarter.
Volume & Open Interest Development
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 $30.0 to $45.0, over the past month.
Delta Air Lines Option Volume And Open Interest Over Last 30 Days
Significant Options Trades Detected:
| Symbol | PUT/CALL | Trade Type | Sentiment | Exp. Date | Ask | Bid | Price | Strike Price | Total Trade Price | Open Interest | Volume |
|---|---|---|---|---|---|---|---|---|---|---|---|
| DAL | CALL | TRADE | BEARISH | 09/13/24 | $3.2 | $2.0 | $2.41 | $44.00 | $120.5K | 4.2K | 0 |
| DAL | CALL | TRADE | NEUTRAL | 09/13/24 | $2.35 | $1.65 | $2.0 | $44.50 | $100.0K | 1.9K | 0 |
| DAL | PUT | TRADE | BEARISH | 12/18/26 | $7.7 | $7.2 | $7.7 | $45.00 | $77.0K | 674 | 0 |
| DAL | CALL | SWEEP | BEARISH | 09/13/24 | $0.85 | $0.67 | $0.7 | $45.00 | $70.0K | 5.3K | 1.2K |
| DAL | CALL | SWEEP | BULLISH | 09/20/24 | $3.55 | $2.85 | $3.1 | $42.50 | $64.1K | 1.1K | 208 |
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.
Having examined the options trading patterns of Delta Air Lines, our attention now turns directly to the company. This shift allows us to delve into its present market position and performance
Where Is Delta Air Lines Standing Right Now?
- With a volume of 2,862,325, the price of DAL is up 0.38% at $44.45.
- RSI indicators hint that the underlying stock may be overbought.
- Next earnings are expected to be released in 28 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.
