Benzinga | Jan 20, 2022 12:04PM EST

Delta Air Lines Whale Trades For January 20

A whale with a lot of money to spend has taken a noticeably bearish stance on Delta Air Lines.

Looking at options history for Delta Air Lines (NYSE:DAL) we detected 12 strange trades.

If we consider the specifics of each trade, it is accurate to state that 41% of the investors opened trades with bullish expectations and 58% with bearish.

From the overall spotted trades, 2 are puts, for a total amount of $72,550 and 10, calls, for a total amount of $561,098.

What's The Price Target?

Taking into account the Volume and Open Interest on these contracts, it appears that whales have been targeting a price range from $15.0 to $60.0 for Delta Air Lines over the last 3 months.

Volume & Open Interest Development

Looking at the volume and open interest is an insightful way to conduct due diligence on a stock.

This data can help you track the liquidity and interest for Delta Air Lines's options for a given strike price.

Below, we can observe the evolution of the volume and open interest of calls and puts, respectively, for all of Delta Air Lines's whale activity within a strike price range from $15.0 to $60.0 in the last 30 days.

Delta Air Lines Option Volume And Open Interest Over Last 30 Days

Biggest Options Spotted:

Symbol PUT/ Trade Sentiment Exp. Strike Total Trade Open Volume CALL Type Date Price Price InterestDAL CALL SWEEP NEUTRAL 02/18/ $38.00 $120.0K 920 245 22DAL CALL SWEEP BEARISH 06/17/ $44.00 $89.0K 4.2K 437 22DAL CALL SWEEP NEUTRAL 02/18/ $38.00 $63.5K 920 746 22DAL CALL SWEEP BEARISH 02/18/ $38.00 $60.2K 920 245 22DAL CALL TRADE BULLISH 01/21/ $15.00 $59.8K 281 0 22

Where Is Delta Air Lines Standing Right Now?

* With a volume of 5,661,856, the price of DAL is up 2.32% at $39.72.

* RSI indicators hint that the underlying stock may be approaching overbought.

* Next earnings are expected to be released in 84 days.

What The Experts Say On Delta Air Lines:

* B of A Securities upgraded its action to Buy with a price target of $48

* Barclays has decided to maintain their Equal-Weight rating on Delta Air Lines, which currently sits at a price target of $45.

* Susquehanna upgraded its action to Positive with a price target of $50

* Morgan Stanley has decided to maintain their Overweight rating on Delta Air Lines, which currently sits at a price target of $60.

* Raymond James has decided to maintain their Strong Buy rating on Delta Air Lines, which currently sits at a price target of $53.

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.

If you are already an options trader or would like to get started, head on over to Benzinga Pro. Benzinga Pro gives you up-to-date news and analytics to empower your investing and trading strategy.