OptionsHouse

Options Trading News

September 13, 2013  Fri 9:30 AM CT

DAL: SEE CHART GET CHAIN FIND STRATEGIES
Shares of Delta Airlines are just off this week's all-time highs, and one trader apparently believes that the stock will hold onto those gains.

optionMONSTER's tracking systems detected the sale of 3,000 October 22 puts for the bid price of $0.83. The volume was almost 10 times the previous open interest, so this is clearly a new position.

The put selling is a bet that DAL will hold up above $22 in coming weeks. The trader is taking on the risk of having to buy shares if they are below that level at expiration in five weeks. (See our Education section)

DAL is up fractionally to $22.23 this morning. Shares were below $19 two weeks ago and closed at a high of $22.63 on Tuesday.
Share this article with your friends


Related Stories

DAL

Calls bet on pop in Delta this week

February 25, 2015

The airline carrier went on a scorching run after rebounding from 52-week lows in October, but it has been bouncing in a range since November with fluctuations in the price of fuel.

Invest Like a Monster - Las Vegas: March 13-14

Premium Services

Webinar Recording

Turbo Charge Your Trading Profits

Education & Strategy

The Strike-Based Greeks

The other Greeks (Gamma, Vega, and Theta) are calculated by using month and strike data, and not by individual option. These are called strike-based Greeks. Gamma, Theta, and Vega are all strike-based Greeks

View more education articles »