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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.

Delta Air Lines Inc

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Whales with a lot of money to spend have taken a noticeably bullish stance on Delta Air Lines.
Looking at options history for Delta Air Lines (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DAL#NYSE">DAL</a>) we detected 15 trades.
If we consider the specifics of each trade, it is accurate to state that 53% of the investors opened trades with bullish expectations and 40% with bearish.
From the overall spotted trades, 4 are puts, for a total amount of $294,345 and 11, calls, for a total amount of $739,713.
<h3>Predicted Price Range</h3>
After evaluating the trading volumes and Open Interest, it's evident that the major market movers are focusing on a price band between $20.0 and $55.0 for Delta Air Lines, spanning the last three months.
<h3>Volume &amp; Open Interest Trends</h3>
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 $20.0 to $55.0, over the past month.
<h3>Delta Air Lines Call and Put Volume: 30-Day Overview</h3>
<img src="https://www.benzinga.com/files/images/story/2024/1727208045_0.png" alt="Options Call Chart" />
<h3>Largest Options Trades Observed:</h3>

<table>
<thead>
<tr>
<th>Symbol</th>
<th>PUT/CALL</th>
<th>Trade Type</th>
<th>Sentiment</th>
<th>Exp. Date</th>
<th>Ask</th>
<th>Bid</th>
<th>Price</th>
<th>Strike Price</th>
<th>Total Trade Price</th>
<th>Open Interest</th>
<th>Volume</th>
</tr>
</thead>
<tbody>
<tr>
<td>DAL</td>
<td>CALL</td>
<td>SWEEP</td>
<td>BULLISH</td>
<td>12/20/24</td>
<td>$0.9</td>
<td>$0.89</td>
<td>$0.9</td>
<td>$55.00</td>
<td>$212.9K</td>
<td>4.6K</td>
<td>2.4K</td>
</tr>
<tr>
<td>DAL</td>
<td>PUT</td>
<td>SWEEP</td>
<td>BEARISH</td>
<td>01/16/26</td>
<td>$5.45</td>
<td>$5.35</td>
<td>$5.45</td>
<td>$45.00</td>
<td>$110.1K</td>
<td>2.0K</td>
<td>204</td>
</tr>
<tr>
<td>DAL</td>
<td>CALL</td>
<td>SWEEP</td>
<td>BULLISH</td>
<td>06/20/25</td>
<td>$10.15</td>
<td>$10.05</td>
<td>$10.15</td>
<td>$40.00</td>
<td>$101.5K</td>
<td>716</td>
<td>0</td>
</tr>
<tr>
<td>DAL</td>
<td>CALL</td>
<td>SWEEP</td>
<td>BULLISH</td>
<td>06/20/25</td>
<td>$10.15</td>
<td>$10.05</td>
<td>$10.15</td>
<td>$40.00</td>
<td>$93.3K</td>
<td>716</td>
<td>200</td>
</tr>
<tr>
<td>DAL</td>
<td>PUT</td>
<td>TRADE</td>
<td>BULLISH</td>
<td>10/18/24</td>
<td>$1.3</td>
<td>$1.18</td>
<td>$1.2</td>
<td>$46.00</td>
<td>$84.0K</td>
<td>3.8K</td>
<td>730</td>
</tr>
</tbody>
</table>

<h3>About Delta Air Lines</h3>
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.
Following our analysis of the options activities associated with Delta Air Lines, we pivot to a closer look at the company's own performance.
<h3>Current Position of Delta Air Lines</h3>
<ul>
<li>With a trading volume of 3,814,905, the price of DAL is up by 0.94%, reaching $47.6.</li>
<li>Current RSI values indicate that the stock is may be overbought.</li>
<li>Next earnings report is scheduled for 16 days from now.</li>
</ul>
Unusual Options Activity Detected: Smart Money on the Move
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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 <a href="https://benzinga.grsm.io/register174">Benzinga Pro</a>.

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Markets

Looking At Delta Air Lines's Recent Unusual Options Activity

Financial giants have made a conspicuous bearish move on Delta Air Lines. Our analysis of options history for Delta Air Lines (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DAL#NYSE">DAL</a>) revealed 10 unusual trades.
Delving into the details, we found 20% of traders were bullish, while 80% showed bearish tendencies. Out of all the trades we spotted, 3 were puts, with a value of $419,780, and 7 were calls, valued at $764,295.
<h3>Projected Price Targets</h3>
Analyzing the Volume and Open Interest in these contracts, it seems that the big players have been eyeing a price window from $28.0 to $57.5 for Delta Air Lines during the past quarter. 
<h3>Volume &amp; Open Interest Development</h3>
In today's trading context, the average open interest for options of Delta Air Lines stands at 2350.22, with a total volume reaching 3,466.00. 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 $28.0 to $57.5, throughout the last 30 days.
<h3>Delta Air Lines 30-Day Option Volume &amp; Interest Snapshot</h3>
<img src="https://www.benzinga.com/files/images/story/2024/1727122546_0.png" alt="Options Call Chart" />
<h3>Noteworthy Options Activity:</h3>

<table>
<thead>
<tr>
<th>Symbol</th>
<th>PUT/CALL</th>
<th>Trade Type</th>
<th>Sentiment</th>
<th>Exp. Date</th>
<th>Ask</th>
<th>Bid</th>
<th>Price</th>
<th>Strike Price</th>
<th>Total Trade Price</th>
<th>Open Interest</th>
<th>Volume</th>
</tr>
</thead>
<tbody>
<tr>
<td>DAL</td>
<td>CALL</td>
<td>SWEEP</td>
<td>BULLISH</td>
<td>01/17/25</td>
<td>$19.8</td>
<td>$19.8</td>
<td>$19.8</td>
<td>$28.00</td>
<td>$237.6K</td>
<td>806</td>
<td>120</td>
</tr>
<tr>
<td>DAL</td>
<td>CALL</td>
<td>TRADE</td>
<td>BEARISH</td>
<td>12/20/24</td>
<td>$3.35</td>
<td>$3.3</td>
<td>$3.3</td>
<td>$47.00</td>
<td>$211.2K</td>
<td>5.7K</td>
<td>640</td>
</tr>
<tr>
<td>DAL</td>
<td>PUT</td>
<td>TRADE</td>
<td>BEARISH</td>
<td>10/18/24</td>
<td>$1.4</td>
<td>$1.39</td>
<td>$1.4</td>
<td>$46.00</td>
<td>$202.9K</td>
<td>2.2K</td>
<td>1.5K</td>
</tr>
<tr>
<td>DAL</td>
<td>PUT</td>
<td>SWEEP</td>
<td>BEARISH</td>
<td>03/21/25</td>
<td>$11.2</td>
<td>$11.15</td>
<td>$11.2</td>
<td>$57.50</td>
<td>$178.0K</td>
<td>68</td>
<td>160</td>
</tr>
<tr>
<td>DAL</td>
<td>CALL</td>
<td>SWEEP</td>
<td>BEARISH</td>
<td>03/21/25</td>
<td>$2.43</td>
<td>$2.42</td>
<td>$2.43</td>
<td>$52.50</td>
<td>$89.4K</td>
<td>3.3K</td>
<td>398</td>
</tr>
</tbody>
</table>

<h3>About Delta Air Lines</h3>
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.
In light of the recent options history for Delta Air Lines, it's now appropriate to focus on the company itself. We aim to explore its current performance.
<h3>Delta Air Lines's Current Market Status</h3>
<ul>
<li>With a volume of 5,210,395, the price of DAL is up 0.47% at $47.16. </li>
<li>RSI indicators hint that the underlying stock may be overbought.</li>
<li>Next earnings are expected to be released in 17 days.</li>
</ul>
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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 want to stay updated on the latest options trades for Delta Air Lines, <a href="https://benzinga.grsm.io/register174">Benzinga Pro</a> gives you real-time options trades alerts.

Delta Air Lines's Options: A Look at What the Big Money is Thinking

Delta Air Lines's (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DAL#NYSE">DAL</a>) short percent of float has fallen 4.8% since its last report. The company recently reported that it has 30.55 million shares sold short, which is 5.35% of all regular shares that are available for trading. Based on its trading volume, it would take traders 4.97 days to cover their short positions on average.
<h3>Why Short Interest Matters</h3>
Short interest is the number of shares that have been sold short but have not yet been covered or closed out. <a href="https://www.benzinga.com/money/how-to-short-a-stock/">Short selling</a> is when a trader sells shares of a company they do not own, with the hope that the price will fall. Traders make money from short selling if the price of the stock falls and they lose if it rises.
Short interest is important to track because it can act as an indicator of market sentiment towards a particular stock. An increase in short interest can signal that investors have become more bearish, while a decrease in short interest can signal they have become more bullish.
See Also: <a href="https://www.benzinga.com/short-interest">List of the most shorted stocks</a>
<h3>Delta Air Lines Short Interest Graph (3 Months)</h3>
<img src="https://www.benzinga.com/files/images/story/2024/1726771512_0.png" alt="short_fig" />
As you can see from the chart above the percentage of shares that are sold short for Delta Air Lines has declined since its last report. This does not mean that the stock is going to rise in the near-term but traders should be aware that less shares are being shorted.
<h3>Comparing Delta Air Lines's Short Interest Against Its Peers</h3>
Peer comparison is a popular technique amongst analysts and investors for gauging how well a company is performing. A company's peer is another company that has similar characteristics to it, such as industry, size, age, and financial structure. You can find a company's peer group by reading its 10-K, proxy filing, or by doing your own similarity analysis.
According to <a href="https://pro.benzinga.com/">Benzinga Pro</a>, Delta Air Lines's peer group average for short interest as a percentage of float is 12.40%, which means the company has less short interest than most of its peers.
Did you know that increasing short interest can actually be bullish for a stock? <a href="https://www.benzinga.com/money/how-to-make-money-on-a-short-squeeze/">This post by Benzinga Money explains how you can profit from it.</a>
This article was generated by Benzinga's automated content engine and was reviewed by an editor.

Short Sellers

Short Ideas

Trading Ideas

(DAL) - Analyzing Delta Air Lines's Short Interest

Investors with a lot of money to spend have taken a bullish stance on Delta Air Lines (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DAL#NYSE">DAL</a>).
And retail traders should know.
We noticed this today when the trades showed up on publicly available options history that we track here at Benzinga.
Whether these are institutions or just wealthy individuals, we don't know. But when something this big happens with DAL, it often means somebody knows something is about to happen.
So how do we know what these investors just did? 
Today, <a href="https://pro.benzinga.com/?utm_source=insights">Benzinga</a>'s options scanner spotted 33 uncommon options trades for Delta Air Lines.
This isn't normal.
The overall sentiment of these big-money traders is split between 54% bullish and 42%, bearish.
Out of all of the special options we uncovered, 8 are puts, for a total amount of $512,982, and 25 are calls, for a total amount of $6,512,425.
<h3>Expected Price Movements</h3>
After evaluating the trading volumes and Open Interest, it's evident that the major market movers are focusing on a price band between $30.0 and $60.0 for Delta Air Lines, spanning the last three months.
<h3>Volume &amp; Open Interest Trends</h3>
Looking at the volume and open interest is a powerful move while trading options. 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 trades within a strike price range from $30.0 to $60.0 in the last 30 days. 
<h3>Delta Air Lines 30-Day Option Volume &amp; Interest Snapshot</h3>
<img src="https://www.benzinga.com/files/images/story/2024/1726593455_0.png" alt="Options Call Chart" />
<h3>Biggest Options Spotted:</h3>

<table>
<thead>
<tr>
<th>Symbol</th>
<th>PUT/CALL</th>
<th>Trade Type</th>
<th>Sentiment</th>
<th>Exp. Date</th>
<th>Ask</th>
<th>Bid</th>
<th>Price</th>
<th>Strike Price</th>
<th>Total Trade Price</th>
<th>Open Interest</th>
<th>Volume</th>
</tr>
</thead>
<tbody>
<tr>
<td>DAL</td>
<td>CALL</td>
<td>TRADE</td>
<td>BULLISH</td>
<td>01/16/26</td>
<td>$3.8</td>
<td>$3.65</td>
<td>$3.8</td>
<td>$60.00</td>
<td>$2.9M</td>
<td>642</td>
<td>10.1K</td>
</tr>
<tr>
<td>DAL</td>
<td>CALL</td>
<td>TRADE</td>
<td>BULLISH</td>
<td>12/20/24</td>
<td>$3.5</td>
<td>$3.4</td>
<td>$3.49</td>
<td>$47.00</td>
<td>$872.5K</td>
<td>3.0K</td>
<td>2.5K</td>
</tr>
<tr>
<td>DAL</td>
<td>CALL</td>
<td>SWEEP</td>
<td>BULLISH</td>
<td>12/20/24</td>
<td>$4.9</td>
<td>$4.8</td>
<td>$4.9</td>
<td>$45.00</td>
<td>$651.7K</td>
<td>5.7K</td>
<td>2.8K</td>
</tr>
<tr>
<td>DAL</td>
<td>CALL</td>
<td>SWEEP</td>
<td>BULLISH</td>
<td>12/20/24</td>
<td>$4.95</td>
<td>$4.9</td>
<td>$4.95</td>
<td>$45.00</td>
<td>$305.4K</td>
<td>5.7K</td>
<td>3.2K</td>
</tr>
<tr>
<td>DAL</td>
<td>CALL</td>
<td>SWEEP</td>
<td>BEARISH</td>
<td>12/20/24</td>
<td>$5.0</td>
<td>$4.85</td>
<td>$4.85</td>
<td>$45.00</td>
<td>$242.8K</td>
<td>5.7K</td>
<td>1.2K</td>
</tr>
</tbody>
</table>

<h3>About Delta Air Lines</h3>
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
<h3>Present Market Standing of Delta Air Lines</h3>
<ul>
<li>With a trading volume of 4,873,800, the price of DAL is up by 2.65%, reaching $46.52.</li>
<li>Current RSI values indicate that the stock is may be overbought.</li>
<li>Next earnings report is scheduled for 23 days from now.</li>
</ul>
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 want to stay updated on the latest options trades for Delta Air Lines, <a href="https://benzinga.grsm.io/register174">Benzinga Pro</a> gives you real-time options trades alerts.

This Is What Whales Are Betting On Delta Air Lines

This whale alert can help traders discover the next big trading opportunities.
Whales are entities with large sums of money and we track their transactions here at Benzinga on our options activity scanner.
Traders will search for circumstances when the market estimation of an option diverges heavily from its normal worth. High amounts of trading activity could push option prices to exaggerated or underestimated levels. 
Here's the list of options activity happening in today's session: 
<table>
<thead>
<tr>
<th>Symbol</th>
<th>PUT/CALL</th>
<th>Trade Type</th>
<th>Sentiment</th>
<th>Exp. Date</th>
<th>Strike Price</th>
<th>Total Trade Price</th>
<th>Open Interest</th>
<th>Volume</th>
</tr>
</thead>
<tbody>
<tr>
<td>UAL</td>
<td>CALL</td>
<td>TRADE</td>
<td>BULLISH</td>
<td>01/16/26</td>
<td>$70.00</td>
<td>$3.2 million</td>
<td>4.2K</td>
<td>10.1K</td>
</tr>
<tr>
<td>FWRD</td>
<td>CALL</td>
<td>SWEEP</td>
<td>BULLISH</td>
<td>09/20/24</td>
<td>$35.00</td>
<td>$27.9K</td>
<td>11.2K</td>
<td>4.4K</td>
</tr>
<tr>
<td>DAL</td>
<td>CALL</td>
<td>TRADE</td>
<td>BULLISH</td>
<td>11/15/24</td>
<td>$47.00</td>
<td>$527.5K</td>
<td>519</td>
<td>2.5K</td>
</tr>
<tr>
<td>ENVX</td>
<td>CALL</td>
<td>TRADE</td>
<td>BULLISH</td>
<td>09/13/24</td>
<td>$9.00</td>
<td>$40.1K</td>
<td>3.1K</td>
<td>1.6K</td>
</tr>
<tr>
<td>UBER</td>
<td>CALL</td>
<td>SWEEP</td>
<td>BEARISH</td>
<td>06/20/25</td>
<td>$80.00</td>
<td>$31.9K</td>
<td>2.1K</td>
<td>1.5K</td>
</tr>
<tr>
<td>RKLB</td>
<td>CALL</td>
<td>SWEEP</td>
<td>BULLISH</td>
<td>01/17/25</td>
<td>$9.00</td>
<td>$94.5K</td>
<td>3.2K</td>
<td>1.1K</td>
</tr>
<tr>
<td>NKLA</td>
<td>PUT</td>
<td>TRADE</td>
<td>BEARISH</td>
<td>09/20/24</td>
<td>$10.00</td>
<td>$498.0K</td>
<td>5.2K</td>
<td>1.0K</td>
</tr>
<tr>
<td>BA</td>
<td>CALL</td>
<td>SWEEP</td>
<td>BEARISH</td>
<td>11/15/24</td>
<td>$160.00</td>
<td>$39.4K</td>
<td>647</td>
<td>501</td>
</tr>
<tr>
<td>PAYX</td>
<td>CALL</td>
<td>SWEEP</td>
<td>BULLISH</td>
<td>10/18/24</td>
<td>$140.00</td>
<td>$83.8K</td>
<td>1.0K</td>
<td>421</td>
</tr>
<tr>
<td>WSC</td>
<td>CALL</td>
<td>SWEEP</td>
<td>BULLISH</td>
<td>10/18/24</td>
<td>$42.50</td>
<td>$28.2K</td>
<td>449</td>
<td>357</td>
</tr>
</tbody>
</table>

<h2>Explanation</h2>
These itemized elaborations have been created using the accompanying table. 
• Regarding UAL (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/UAL#NASDAQ">UAL</a>), we observe a call option trade with bullish sentiment. It expires in 490 day(s) on January 16, 2026. Parties traded 7462 contract(s) at a $70.00 strike. The total cost received by the writing party (or parties) was $3.2 million, with a price of $430.0 per contract. There were 4223 open contracts at this strike prior to today, and today 10112 contract(s) were bought and sold. 
• For FWRD (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/FWRD#NASDAQ">FWRD</a>), we notice a call option sweep that happens to be bullish, expiring in 7 day(s) on September 20, 2024. This event was a transfer of 193 contract(s) at a $35.00 strike. This particular call needed to be split into 28 different trades to become filled. The total cost received by the writing party (or parties) was $27.9K, with a price of $145.0 per contract. There were 11280 open contracts at this strike prior to today, and today 4459 contract(s) were bought and sold. 
• Regarding DAL (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DAL#NYSE">DAL</a>), we observe a call option trade with bullish sentiment. It expires in 63 day(s) on November 15, 2024. Parties traded 2500 contract(s) at a $47.00 strike. The total cost received by the writing party (or parties) was $527.5K, with a price of $211.0 per contract. There were 519 open contracts at this strike prior to today, and today 2542 contract(s) were bought and sold. 
• For ENVX (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ENVX#NASDAQ">ENVX</a>), we notice a call option trade that happens to be bullish, is expiring today. Parties traded 550 contract(s) at a $9.00 strike. The total cost received by the writing party (or parties) was $40.1K, with a price of $73.0 per contract. There were 3105 open contracts at this strike prior to today, and today 1600 contract(s) were bought and sold. 
• Regarding UBER (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/UBER#NYSE">UBER</a>), we observe a call option sweep with bearish sentiment. It expires in 280 day(s) on June 20, 2025. Parties traded 43 contract(s) at a $80.00 strike. This particular call needed to be split into 7 different trades to become filled. The total cost received by the writing party (or parties) was $31.9K, with a price of $742.0 per contract. There were 2164 open contracts at this strike prior to today, and today 1512 contract(s) were bought and sold. 
• For RKLB (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/RKLB#NASDAQ">RKLB</a>), we notice a call option sweep that happens to be bullish, expiring in 126 day(s) on January 17, 2025. This event was a transfer of 1050 contract(s) at a $9.00 strike. This particular call needed to be split into 41 different trades to become filled. The total cost received by the writing party (or parties) was $94.5K, with a price of $90.0 per contract. There were 3215 open contracts at this strike prior to today, and today 1154 contract(s) were bought and sold. 
• For NKLA (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NKLA#NASDAQ">NKLA</a>), we notice a put option trade that happens to be bearish, expiring in 7 day(s) on September 20, 2024. This event was a transfer of 1000 contract(s) at a $10.00 strike. The total cost received by the writing party (or parties) was $498.0K, with a price of $498.0 per contract. There were 5256 open contracts at this strike prior to today, and today 1000 contract(s) were bought and sold. 
• Regarding BA (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BA#NYSE">BA</a>), we observe a call option sweep with bearish sentiment. It expires in 63 day(s) on November 15, 2024. Parties traded 40 contract(s) at a $160.00 strike. This particular call needed to be split into 5 different trades to become filled. The total cost received by the writing party (or parties) was $39.4K, with a price of $985.0 per contract. There were 647 open contracts at this strike prior to today, and today 501 contract(s) were bought and sold. 
• Regarding PAYX (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/PAYX#NASDAQ">PAYX</a>), we observe a call option sweep with bullish sentiment. It expires in 35 day(s) on October 18, 2024. Parties traded 300 contract(s) at a $140.00 strike. This particular call needed to be split into 42 different trades to become filled. The total cost received by the writing party (or parties) was $83.8K, with a price of $280.0 per contract. There were 1023 open contracts at this strike prior to today, and today 421 contract(s) were bought and sold. 
• Regarding WSC (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/WSC#NASDAQ">WSC</a>), we observe a call option sweep with bullish sentiment. It expires in 35 day(s) on October 18, 2024. Parties traded 332 contract(s) at a $42.50 strike. This particular call needed to be split into 33 different trades to become filled. The total cost received by the writing party (or parties) was $28.2K, with a price of $85.0 per contract. There were 449 open contracts at this strike prior to today, and today 357 contract(s) were bought and sold. 
Options Alert Terminology 
 - Call Contracts: The right to buy shares as indicated in the contract. 
 - Put Contracts: The right to sell shares as indicated in the contract. 
 - Expiration Date: When the contract expires. One must act on the contract by this date if one wants to use it. 
 - Premium/Option Price: The price of the contract. 
For more information, visit our <a href="https://pro.benzinga.com/blog/how-to-understand-option-alerts/">Guide to Understanding Options Alerts</a> or read <a href="https://www.benzinga.com/markets/options">more about unusual options activity</a>. 
This article was generated by Benzinga's automated content engine and reviewed by an editor.

ENVX

FWRD

NKLA

PAYX

RKLB

UBER

10 Industrials Stocks With Whale Alerts In Today's Session

News

Guidance

Delta Air Lines Exec Says When You Have Fuel Going Down & Revenues Heading Up, That's A Pretty Good Indication That Airline Industry Is In A Good Spot

High-rolling investors have positioned themselves bearish on Delta Air Lines (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DAL#NYSE">DAL</a>), 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.
<h3>Predicted Price Range</h3>
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. 
<h3>Volume &amp; Open Interest Development</h3>
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.
<h3>Delta Air Lines Option Volume And Open Interest Over Last 30 Days</h3>
<img src="https://www.benzinga.com/files/images/story/2024/1726149814_0.png" alt="Options Call Chart" />
<h3>Significant Options Trades Detected:</h3>

<table>
<thead>
<tr>
<th>Symbol</th>
<th>PUT/CALL</th>
<th>Trade Type</th>
<th>Sentiment</th>
<th>Exp. Date</th>
<th>Ask</th>
<th>Bid</th>
<th>Price</th>
<th>Strike Price</th>
<th>Total Trade Price</th>
<th>Open Interest</th>
<th>Volume</th>
</tr>
</thead>
<tbody>
<tr>
<td>DAL</td>
<td>CALL</td>
<td>TRADE</td>
<td>BEARISH</td>
<td>09/13/24</td>
<td>$3.2</td>
<td>$2.0</td>
<td>$2.41</td>
<td>$44.00</td>
<td>$120.5K</td>
<td>4.2K</td>
<td>0</td>
</tr>
<tr>
<td>DAL</td>
<td>CALL</td>
<td>TRADE</td>
<td>NEUTRAL</td>
<td>09/13/24</td>
<td>$2.35</td>
<td>$1.65</td>
<td>$2.0</td>
<td>$44.50</td>
<td>$100.0K</td>
<td>1.9K</td>
<td>0</td>
</tr>
<tr>
<td>DAL</td>
<td>PUT</td>
<td>TRADE</td>
<td>BEARISH</td>
<td>12/18/26</td>
<td>$7.7</td>
<td>$7.2</td>
<td>$7.7</td>
<td>$45.00</td>
<td>$77.0K</td>
<td>674</td>
<td>0</td>
</tr>
<tr>
<td>DAL</td>
<td>CALL</td>
<td>SWEEP</td>
<td>BEARISH</td>
<td>09/13/24</td>
<td>$0.85</td>
<td>$0.67</td>
<td>$0.7</td>
<td>$45.00</td>
<td>$70.0K</td>
<td>5.3K</td>
<td>1.2K</td>
</tr>
<tr>
<td>DAL</td>
<td>CALL</td>
<td>SWEEP</td>
<td>BULLISH</td>
<td>09/20/24</td>
<td>$3.55</td>
<td>$2.85</td>
<td>$3.1</td>
<td>$42.50</td>
<td>$64.1K</td>
<td>1.1K</td>
<td>208</td>
</tr>
</tbody>
</table>

<h3>About Delta Air Lines</h3>
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
<h3>Where Is Delta Air Lines Standing Right Now?</h3>
<ul>
<li>With a volume of 2,862,325, the price of DAL is up 0.38% at $44.45. </li>
<li>RSI indicators hint that the underlying stock may be overbought.</li>
<li>Next earnings are expected to be released in 28 days.</li>
</ul>
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 want to stay updated on the latest options trades for Delta Air Lines, <a href="https://benzinga.grsm.io/register174">Benzinga Pro</a> gives you real-time options trades alerts.

A Closer Look at Delta Air Lines's Options Market Dynamics

General

Delta shares are trading higher after the company reportedly said FY24 EPS is expected to be at or above the midpoint of the $6-$7 range, with September quarter ASMs up around 4% YoY.

Delta Air Lines Sees FY24 EPS Is Expected To Be At Or Above The Mid Point Of Guidance Of $6-$7; Outlook Sept Quarter ASMs YoY Up About 4 %

Jobs numbers have been lackluster and constantly revised downward. Unemployment is holding steady at around 4.2% but up since March. Sept. 18 is Fed day, and the market is already pricing in a 25-basis points rate cut, maybe even 50 points. That means the most important thing about that decision next week will be what Fed Chairman Jerome Powell ultimately says about it afterwards.
&ldquo;I think strong overall economic indicators, falling inflation, and a shift from defensive assets into equities have driven stocks higher so you have to wonder what additional benefits could a rate cut provide now,&rdquo; said Naeem Aslam, an external consultant for AvaTrade in London.
&ldquo;The most immediate impact would be on highly leveraged companies that would benefit from reduced interest expenses and improved refinancing conditions, but growth stocks, particularly in sectors like tech, could easily see continued momentum in their favor,&rdquo; he said.
The Nasdaq is up around <a href="https://www.nasdaq.com/market-activity/index/ndx">20.6% over the last 12 months</a> ending Sept. 10. Investors in the Invesco Nasdaq ETF (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/qqq#NASDAQ">QQQ</a>) have beaten the index, up 23% in 12 months.
<img alt="benzinga_qqq.jpg" src="https://www.benzinga.com/files/u1625319/benzinga_qqq.jpg" style="height:329px; width:624px" />
The Nasdaq 100 Index is likely to move towards the 20,000 price level if markets like what Powell has to say next week. However, if his talk suggests a recession is possible in the months ahead, Nasdaq could fall to 16,900.
For now, &ldquo;It&rsquo;s hard to be bearish,&rdquo; said Vladimir Signorelli, president of Bretton Woods Research, a macro investment research firm in Long Valley, NJ.&nbsp;
The Fed&rsquo;s campaign of contraction that began in early 2022 is beginning to bear fruit. Non-farm payrolls are consistently being <a href="https://www.cnn.com/2024/08/21/economy/bls-jobs-revisions/index.html">revised lower</a>.
&ldquo;We have had 340 thousand jobs revised downward this year alone. That&rsquo;s huge. How do you miss that? Job market weakness is accelerating and so on Sept 18 we will see a rate cut, and maybe even a 50 basis points rate cut,&rdquo; Signorelli said. &ldquo;My hunch is that if Powell wants 50 basis points, he can persuade Christopher Waller (Federal Reserve Board of Governors) to go up from 25.&rdquo;
Waller has already said he was willing to &ldquo;front-load rate cuts&rdquo; if needed in case of economic contraction.&nbsp;
The Fed is being blown out of the water by these lagging indicators, or coming in at the lower quartile of their estimates. They&rsquo;ve been outside the median in their calls because the slowdown has accelerated.
The latest Bureau of Labor Statistics <a href="https://www.bls.gov/news.release/empsit.nr0.htm">data</a> showed 25,000 manufacturing jobs were lost in August alone with &ldquo;little net change over the year.&rdquo;
The Federal funds rate is 5%, with an upper limit of 5.5%.&nbsp;
One part of the market that is focused on guessing interest rate moves has already made their play. They are long equities and have been since mid-summer. But there is more to next week&rsquo;s rate cut than the cut itself.
&ldquo;We are going to be evaluating how Powell characterizes this reduction in rates, the first one since 2020,&rdquo; Signorelli said.
Interest rate cuts will have multiplier effects. Powell&rsquo;s suggestion easing was enough to trim around 140 basis points from the 30-year Treasury bond this year. A single rate cut of around 25 bips could easily take the 10-year from 3.7% yield today to around 3.3% later next week, said Signorelli. Where will that money go? Probably equities. But that will depend on whether the market is worried about a recession.
&ldquo;Heading into the end of the year, U.S. stocks will probably continue to beat European stocks thanks to stronger economic fundamentals and stronger consumer base,&rdquo; said Aslam. &ldquo;If the Federal Reserve is nearing the end of its rate-hiking cycle, I&rsquo;d buy growth sectors like tech because they may continue to see portfolio money coming in,&rdquo; he said.
Valuations are still relatively high, however. Investors are paying more for those equities that they are for stocks on the S&amp;P 500. QQQ is trading at 31x, compared to the SPDR S&amp;P 500 (ARCA:SPY) trading at 21x. Amazon (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/amzn#NASDAQ">AMZN</a>)&nbsp;has a price to earnings ratio of 41x. Delta Airlines (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/dal#NYSE">DAL</a>) is around 7x PE, despite the increase in airline travel, according to a July JP Morgan <a href="https://www.jpmorgan.com/insights/global-research/travel/airline-outlook">report</a>.
Higher valuations could limit upside potential for those stocks even with lower interest rates, said Aslam. See Intel (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/intc#NASDAQ">INTC</a>) for instance, with a PE of over 79 times earnings. &ldquo;Stay away from those, especially if earnings growth slows or macroeconomic data suggests a recession is coming.&rdquo;
<h3>Five Nasdaq Stocks With A&nbsp;PE Under 20</h3>
Believe it or not, some of these stocks on the Nasdaq are priced below the average index PE. If Intel and Broadcom (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/avgo#NASDAQ">AVGO</a>) look expensive, here are five companies with current P/E ratios under 20.
Applied Materials (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/amat#NASDAQ">AMAT</a>): 19.96x
Cisco Systems (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/csco#NASDAQ">CSCO</a>): 19.17x
Cognizant (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/ctsh#NASDAQ">CTSH</a>): 17.34x
First Solar (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/fslr#NASDAQ">FSLR</a>): 18.26x
Sirius XM Holdings (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/siri#NASDAQ">SIRI</a>): 8.41x
&ldquo;Buying 100x PE stocks in the Nasdaq is a high-risk, high-reward strategy,&rdquo; said Aslam. &ldquo;Lower rates could push valuations even higher quickly, but magnifies the risk if growth expectations aren&#39;t met.&rdquo;
The current environment suggests caution for buying the high value names.
&ldquo;Investors that are comfortable with volatility and are willing to bet on sustained low interest rates and strong growth may see some upside, but the downside risk of overpaying is significant if market conditions change or if these high priced companies fail to deliver,&rdquo; Aslam said.
This article is from an unpaid external contributor. It does not represent Benzinga's reporting and has not been edited for content or accuracy.

AMAT

AMZN

AVGO

CSCO

CTSH

FSLR

INTC

SIRI

Has The Market Already Front Run Sept. 18 Rate Cuts, And If Not, What's Worth Buying Now?

Southwest Airlines (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/luv#NYSE">LUV</a>) received encouraging tidings on the labor front when it inked a tentative agreement with the company&#39;s flight simulator technicians&#39; union, International Brotherhood of Teamsters Local 19, for a new collective bargaining agreement. There are more than 50 flight simulator technicians at the Dallas-based carrier. These technicians are responsible for providing essential maintenance and engineering support. By doing so, they ensure the reliability and safety of flight training equipment.
Now the provisional deal will be voted upon by flight attendants. This deal will be materialized only if the voting outcome is favorable. The agreement on becoming effective will make simulator technicians eligible for significant gains in compensation. The tentative deal inked with simulator technicians is no doubt a welcome development. The company would be hoping that this deal gets approved. We note that satisfied labor groups generally lead to greater operational efficiency.
With U.S. airlines grappling with labor&nbsp; shortage, as air-travel demand bounced back strongly from the pandemic lows, we have witnessed quite a few deals for various labor groups in the U.S. airline space recently. At Southwest Airlines itself, 11 out of 12 union-represented workgroups have ratified new agreements since October 2022.
In August 2023, American Airlines&#39; (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/aal#NASDAQ">AAL</a>) four-year pact with pilots was ratified. The approval made AAL&#39;s pilots eligible for an immediate pay raise in excess of 21%, on average. Also, this deal included provisions aimed at improving pilots&#39; quality of life. In 2023, Delta Air Lines (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/dal#NYSE">DAL</a>) pilots ratified a four-year deal, which made its 15,000 pilots eligible for a 34% pay hike in the next four years.
<h2>Disappointing Price Performance of LUV Stock</h2>
Due to headwinds like escalated operating costs, shares of Southwest Airlines have not performed well lately, having lost 11.9% in the past six months compared with its industry&#39;s 3.1% decline in the same time frame.
<h2>Six-Month Price Comparison</h2>
<img alt="Zacks Investment Research" src="https://staticx-tuner.zacks.com/images/articles/charts/b8/77192.jpg?v=510389531" style="border-style:solid; border-width:1px; height:310px; width:600px" />
Image Source: Zacks Investment Research
<h2>Southwest Airlines&#39; Zacks Rank</h2>
LUV currently carries a Zacks Rank #3 (Hold).
<a href="https://www.zacks.com/stock/news/2334117/southwest-airlines-inks-provisional-deal-with-simulator-technicians?cid=CS-BENZ-FT-analyst_blog|company_news_corporate_actions-2334117">To read this article on Zacks.com click here.</a>

Large Cap

Mid Cap

Analyst Ratings

Southwest Airlines Inks Provisional Deal With Simulator Technicians

FAA Investigating Delta Airplane That Struck Wingtip Of Endeavor Plane At Atlanta Airport

European Aeronautic Defence And Space Unsponsored

EADSY

Delta Air Lines Says Delta Aircraft, Regional Jet Involved In Taxiway Incident In Atlanta; No Additional Operational Adjustments Are Expected; No Reported Injuries At This Time & Customers Being Transported Back To Terminal, To Be Reaccommodated On Alternate Flights

WIIM

Shares of some airline stocks are trading higher. The sector may be on watch after Boeing struck a tentative deal to avert a strike.

Several airlines are reportedly conducting precautionary inspections of their Airbus SE (OTC:<a class="ticker" href="https://www.benzinga.com/stock/EADSY#OTC">EADSY</a>) A350 fleets following an issue identified by Cathay Pacific Airways, Ltd. (OTC:<a class="ticker" href="https://www.benzinga.com/stock/CPCAY#OTC">CPCAY</a>).
The Cathay Pacific airline discovered that 15 of its A350-1000 aircraft required fuel line repairs after an in-flight engine component failure. This problem affected aircraft using Rolls-Royce Trent XWB-97 engines, reported Reuters.
Delta Air Lines, which operates 30 A350-900s, said the airline runs its global operation &#8220;with the high standard of care for safety, reliability and care,&#8221; Reuters noted.
The European Union Aviation Safety Agency (EASA) has issued a directive requiring airlines to perform visual checks and measurements on A350-1000 engines within three to 30 days.
The A350-900 model, which uses a different engine, is not affected by this directive.
Also Read: <a target="_blank" href="https://www.benzinga.com/markets/equities/24/09/40729994/cathay-pacific-a350-engine-issue-airbus-and-rolls-royce-ready-to-speak-out" rel="noreferrer noopener">Cathay Pacific A350 Engine Issue: Airbus And Rolls-Royce Ready To Speak Out</a>
Cathay Pacific, which operates 48 A350 jets, has identified 15 aircraft needing engine component replacements, with repairs scheduled to be completed by Saturday.
Japan Airlines Ltd, which has five new A350-1000s, reported no defects after initial inspections but will conduct additional checks based on a Service Bulletin from Rolls-Royce.
Qatar Airways is inspecting its 24 A350-1000s in response to EASA and Rolls-Royce directives, while Etihad Airways, which has five A350-1000s, has found no issues during its inspections so far.
Virgin Atlantic, operating 12 A350-1000s, announced on Friday that it has received an Airworthiness Directive to inspect the XWB engines. The airline is collaborating closely with Airbus and Rolls-Royce on this matter. It anticipates that the inspections will result in &#8220;minimal disruptions&#8221; to its flight schedule.
British Airways, which operates 18 A350-1000s, has not yet provided a comment on the situation.
Singapore Airlines, which has 63 A350-900 planes, is conducting inspections with no reported flight impacts. Thai Airways, managing 23 A350-900s, said it continuously reviews the situation, per the report.&nbsp;
Airlines are closely monitoring the situation to ensure safety and operational stability.
Price Action: DAL shares are trading lower by 0.36% to $42.02 at last check Friday.
Photo via Shutterstock
Read Next:
<ul>
<li><a href="https://www.benzinga.com/news/24/09/40701898/cathay-pacifics-a350-fleet-to-fully-resume-operations-by-sep-7" target="_blank" rel="noreferrer noopener">CathPacific&#8217;sc&#8217;s A350 Fleet To Fully Resume Operations By Sep 7</a></li>
</ul>

Equities

Media

CPCAY

Delta Air Lines Ensure 'High Standard Of Care For Safety' As Airlines Respond To Cathay Pacific's Airbus A350 Engine Failure

The U.S. Transportation Department (DOT) is delving into the rewards and frequent flyer programs of the four largest U.S. airlines. The investigation aims to ensure consumers are treated fairly and not disadvantaged by these programs.
What Happened: The DOT has launched an inquiry into the rewards programs of American Airlines Group Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AAL#NASDAQ">AAL</a>), Delta Air Lines, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DAL#NYSE">DAL</a>), Southwest Airlines Co. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/LUV#NYSE">LUV</a>), and United Airlines Holdings Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/UAL#NASDAQ">UAL</a>). The airlines are required to provide records and comprehensive reports on their rewards programs.
The probe seeks to comprehend the impact on consumers due to the devaluation of earned rewards, concealed or fluctuating pricing, additional fees, and diminished competition and choice. This move follows a public hearing conducted in May by the DOT and the Consumer Financial Protection Bureau on airline loyalty programs.
Transportation Secretary Pete Buttigieg has expressed the department&#8217;s need for more detailed data to fully understand these rewards programs and pinpoint any potential competition or consumer protection issues.
See Also: <a href="https://www.benzinga.com/news/24/09/40723859/spacex-reportedly-evacuates-employees-from-brazil-halts-travel-amid-elon-musks-legal-battle-with-sup?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">SpaceX Reportedly Evacuates Employees From Brazil, Halts Travel Amid Elon Musk&#8217;s Legal Battle With Suprem</a>
Trade group Airlines for America has defended U.S. airlines, stating that they are transparent about their frequent flyer programs. The group highlighted the significance of these programs, which were vital for airlines to generate revenue and secure funds during the COVID-19 pandemic.
Commenting to Reuters, Delta acknowledged the DOT&#8217;s inquiry and will respond in due course. Southwest defended its flexible rewards program.
Why It Matters: This investigation comes on the heels of recent changes to the rewards programs of these airlines. In September 2023, <a href="https://www.benzinga.com/news/23/09/34976310/deltas-loyalty-program-overhaul-faces-turbulence-ceo-promises-adjustments">Delta faced backlash</a> from customers following an overhaul of its loyalty program. The airline&#8217;s CEO, Ed Bastian, promised adjustments in response to the criticism.
In March, United Airlines<a href="https://www.benzinga.com/markets/equities/24/03/37892140/united-airlines-breaks-new-ground-with-mileageplus-family-friends-pooling"> introduced a new feature</a> in its MileagePlus program, allowing members to pool their miles with family and friends. This move made United the first major U.S. carrier to offer such an option.
Read Next: 
<ul>
<li><a href="https://www.benzinga.com/news/24/09/40700719/boeing-starliner-return-sunita-williams-and-butch-wilmore-prepare-spacecraft-for-uncrewed-journey-ba?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Boeing Starliner Return: Sunita Williams And Butch Wilmore Prepare Spacecraft For Uncrewed Journey Back To Earth</a></li>
</ul>
Image via Shutterstock
This story was generated using <a href="https://www.benzinga.com/author/benzinga-neuro">Benzinga Neuro</a> and edited by <a href="https://www.benzinga.com/topic/Pooja-Rajkumari" target="_blank" rel="noreferrer noopener">Pooja Rajkumari</a>

Government

Travel

Delta, Southwest And Other Airlines In Hot Waters With US Transportation Department For Unfair Rewards Programs

Legal

The Transportation Department Orders 4 Largest U.S. Airlines To Answer Questions On Frequent Flyer, Rewards Programs

Atlanta, GA-based airline heavyweight Delta Air Lines (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/dal#NYSE">DAL</a>) faces multiple headwinds ranging from the current overcapacity in the airline market, technology outage and high costs.&nbsp; Due to the headwinds, earnings estimates for not only the remaining quarters of 2024 but also for the current year are on the decline, signaling a bearish outlook for the airline. The Zacks Consensus Estimate for third-quarter and full-year 2024 earnings per share indicates a decline of 26.1% and 5% from the respective 2023 figures.
<img alt="Zacks Investment Research" src="https://staticx-tuner.zacks.com/images/articles/charts/29/76388.jpg?v=1469092556" style="height:310px; width:600px" />
Image Source: Zacks Investment Research
Let&#39;s delve deeper.
<h2>Overcapacity Likely to Hit Q3 Results of DAL</h2>
The airline market in the United States is currently characterized by overcapacity. This is expected to hurt the performance of airlines, including DAL, despite buoyant air travel demand this summer.
Carriers have been compelled to lower airfares despite an escalation in costs, thereby hurting profits amid the summer travel buoyancy.&nbsp; Discount carriers have added too many seats that they are now attempting to fill by lowering fares and compelling airline majors like DAL to follow suit to stay competitive. This has hurt pricing power, which is expected to dent third-quarter results.
<h2>DAL&#39;s Revenue Loss Due to Global Outage&nbsp;</h2>
The global technology outage on Jul 19, caused by security software provider CrowdStrike&#39;s software update hit Delta the hardest among U.S. airlines. Following the faulty software update, DAL&#39;s operations were crippled more than others due to its dependence on Microsoft systems for flight crew scheduling. The faulty CrowdStrike software update affected solely Windows machines.
DAL management stated in a SEC filing that due to the outage, approximately 7,000 flights were canceled over five days, causing not only revenue loss but harassments to passengers. Management believes that the third-quarter direct revenue impact of the incident will likely be $380 million, caused mainly by refunds to customers for canceled flights and resultant compensation.&nbsp; Further impact for the September quarter, includes an increase in non-fuel costs to the tune of $170 million, primarily due to customer expense reimbursements and crew-related costs.&nbsp; The flight cancellations are likely to have lowered fuel expenses by $50 million.
Capacity growth for the September quarter is expected to have taken a hit of 1.5 points following the incident. We remind investors that while releasing second-quarter results, which was prior to the outage, DAL had projected available seat miles (a measure of capacity) in the September quarter to increase 5-6% from the year-ago actuals. Due to the loss caused by the outage, DAL is believed to be seeking compensation of at least $500 million from Microsoft and CrowdStrike.
<h2>DAL Stock Suffering From High Labor Costs</h2>
DAL is burdened with rising expenses related to non-fuel unit costs. These costs increased 1% year over year in first-half 2024, driven mainly by salaries and related costs, which increased 10%. The increase was due to higher wages arising from the contract with pilots that was ratified in March 2023. While releasing second-quarter results, DAL had expected non-fuel unit cost or cost per available seat mile (CASM: adjusted) for the September quarter to increase in the 1-2% band from third-quarter 2023 levels. The additional non-fuel costs due to the outage, as described above, are likely to push adjusted CASM higher in the September quarter, thereby hurting the bottom line.
<h2>DAL&#39;s Price Performance Takes a Hit</h2>
Due to the headwinds mentioned above, shares of Delta have declined 14.8% over the past three months. DAL stock has underperformed not only its industry but also the S&amp;P 500, of which the airline is a key member. Additionally, while DAL&#39;s price performance compares unfavorably with that of American Airlines (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/aal#NASDAQ">AAL</a>), it is a tad better than another airline heavyweight United Airlines (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/ual#NASDAQ">UAL</a>) in the same timeframe.
<h2>Three-Month Price Comparison</h2>
<img alt="Zacks Investment Research" src="https://staticx-tuner.zacks.com/images/articles/charts/6f/76394.jpg?v=695230268" style="height:310px; width:600px" />
Image Source: Zacks Investment Research
<h2>DAL Stock&#39;s Attractive Valuation: A Silver Lining</h2>
From a valuation perspective, DAL is trading at a discount compared to the industry. Its forward 12-month price-to-sales, a commonly used multiple for valuing airline stocks, reading is also below its median over the last five years. The company has a Value Score of A.
<img alt="Zacks Investment Research" src="https://staticx-tuner.zacks.com/images/articles/charts/81/76396.jpg?v=1394515119" style="height:310px; width:600px" />
Image Source: Zacks Investment Research
<h2>Steer Clear of DAL</h2>
The negative sentiment surrounding the stock is quite evident, with earnings per share estimates for DAL moving south due to the reasons mentioned above. Investors have ample reason to be wary of investing in DAL stock currently.&nbsp;
As there is significant doubt about whether the challenges facing DAL will ease this year, investor sentiment surrounding this airline heavyweight is unlikely to get a boost any time soon. The combination of its weak current performance and an uncertain future casts a shadow over DAL&#39;s prospects. So, the stock, currently carrying a Zacks Rank #4 (Sell), appears a risky prospect for investors.
<a href="https://www.zacks.com/stock/news/2330919/delta-s-eps-estimates-southbound-time-to-sell-dal-stock?cid=CS-BENZ-FT-analyst_blog|most_popular_stocks-2330919">To read this article on Zacks.com click here.</a>

Earnings

Delta's EPS Estimates Southbound: Time to Sell DAL Stock?

Travel over the Labor Day holiday has <a href="https://www.benzinga.com/general/education/24/08/40653618/labor-day-weekend-with-a-billionaire-did-benzinga-readers-pick-musk-branson-cuban-gates-or-bezo">picked up significantly</a> from a year ago, data revealed.
Domestic travel is up 9% from the same period last year as American Automobile Association (AAA) booking data shows a 30% jump in trips to Seattle, partly because Seattle is a major port city for cruises to Alaska.
"This is a great time of year to take a cruise to Alaska. Crowds are smaller than earlier in the summer, the weather is still decent, although chillier than in July and August, and you may even see some fall colors," said Doreen Loofburrow, senior vice president of travel at AAA Oregon/Idaho.
Gas prices over Labor Day are averaging $3.35 a gallon nationwide, down from an average of $3.81 a gallon during the same period in 2023, according to AAA.
Read Also: <a href="https://www.benzinga.com/news/24/08/40577215/elliott-plans-meeting-with-southwest-over-immense-challenges-may-push-for-board-changes">Elliott Plans Meeting With Southwest Over &#8216;Immense&#8217; Challenges, May Push For Board Changes</a>
The Transportation Security Administration (TSA) said it plans to screen more than 17 million people at airports during what is expected to be the busiest Labor Day travel period on record from Aug. 29 into Sept. 4. TSA expects to screen 2.86 million travelers on the busiest day of Aug. 30.
The TSA said this summer&#8217;s air travel volumes have been the highest it has seen in its history, and it expects passenger volumes to be 8.5% higher than last year during this time. 
&#8220;People are traveling more than ever this summer and TSA along with our airline and airport partners stand ready to close the busiest summer travel period on record during this upcoming Labor Day weekend," said TSA Administrator David Pekoske. 
Price Action: Rental car companies, airlines and cruise providers gave varied performances on Wall Street into Friday&#8217;s early-afternoon trading as the busy travel period was underway.
<ul>
<li>Hertz Global Holdings (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/HTZ#NASDAQ">HTZ</a>) declined 3.1% to $3.10</li>
<li>Avis Budget Group, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CAR#NASDAQ">CAR</a>) fell 0.99% to $81.82</li>
<li>Delta Air Lines, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DAL#NYSE">DAL</a>) gained 1.1% to $42.01</li>
<li>United Airlines Holdings, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/UAL#NASDAQ">UAL</a>) rose 1.92% to $43.46</li>
<li>Carnival Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CCL#NYSE">CCL</a>) slipped 1.42% to $16.31</li>
<li>Norwegian Cruise Line Holdings Ltd. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/NCLH#NYSE">NCLH</a>) slid 0.98% to $17.67</li>
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Photo: Ozkan Ulucam via Shutterstock

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CrowdStrike Holdings Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CRWD#NASDAQ">CRWD</a>), the American cybersecurity heavyweight, seems to be on a collision course with a Death Cross — a technical indicator where a stock's short-term moving average dips below its long-term moving average, signaling potential <a href="https://www.benzinga.com/topic/death-cross">bearish trends ahead</a>.
<figure class="wp-block-image size-full"><a href="https://bzresearch.myclickfunnels.com/benzinga-pro-content-webinar-registration/?utm_source=BZprocontent083024&amp;t=be2bearmibe3na1"><img loading="lazy" decoding="async" width="631" height="461" src="https://editorial-assets.benzinga.com/wp-content/uploads/2024/08/30112826/Screenshot-2024-08-30-at-8.57.37-PM.png" alt="" class="wp-image-523576" srcset="https://editorial-assets.benzinga.com/wp-content/uploads/2024/08/30112826/Screenshot-2024-08-30-at-8.57.37-PM.png 631w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/08/30112826/Screenshot-2024-08-30-at-8.57.37-PM-300x219.png 300w" sizes="(max-width: 631px) 100vw, 631px" /></a></figure>
<a href="https://bzresearch.myclickfunnels.com/benzinga-pro-content-webinar-registration/?utm_source=BZprocontent083024&amp;t=be2bearmibe3na1" target="_blank" rel="noreferrer noopener">Chart created using Benzinga Pro</a>
While CrowdStrike&#8217;s stock has enjoyed an impressive run over the past year — up 86.54%, with a 12.71% gain year-to-date and a 19.10% surge in the past month — the recent Microsoft outage, including its effect on Delta Air Lines Inc (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DAL#NYSE">DAL</a>), has cast a long shadow.
<h1 class="wp-block-heading">War Of Words and the $500 Million Meltdown</h1>
The drama started when a buggy software update from CrowdStrike in July caused a global meltdown, crashing millions of Microsoft Windows devices, including those at critical facilities like airports and hospitals.
Delta Air Lines took a direct hit, suffering a $500 million loss and demanding that CrowdStrike foot the bill. Delta isn't playing nice, either — its hired a top-tier law firm to pursue full compensation, while CrowdStrike maintains its liability should be capped in the single-digit millions.
Read Also: <a href="https://www.benzinga.com/trading-ideas/technicals/24/08/40653832/airline-stocks-in-trouble-delta-uniteds-death-cross-signals-warning">Airline Stocks In Trouble: Delta, United&#8217;s Death Cross Signals Warning</a>
This dispute has left both companies at odds, but recently, CrowdStrike's CEO George Kurtz extended an olive branch, expressing a desire to thrash out a resolution with Delta. 
The market remains spooked. CrowdStrike shares have taken a nosedive, losing over 42% in value in just two weeks and wiping out approximately $40 billion from its market cap.
<h1 class="wp-block-heading">Technical Trouble: Bears On The Prowl</h1>
CrowdStrike&#8217;s stock seems to be headed toward a Death Cross.
<figure class="wp-block-image size-full"><a href="https://bzresearch.myclickfunnels.com/benzinga-pro-content-webinar-registration/?utm_source=BZprocontent083024&amp;t=be2bearmibe3na1"><img loading="lazy" decoding="async" width="631" height="461" src="https://editorial-assets.benzinga.com/wp-content/uploads/2024/08/30112847/Screenshot-2024-08-30-at-8.57.53-PM.png" alt="" class="wp-image-523577" srcset="https://editorial-assets.benzinga.com/wp-content/uploads/2024/08/30112847/Screenshot-2024-08-30-at-8.57.53-PM.png 631w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/08/30112847/Screenshot-2024-08-30-at-8.57.53-PM-300x219.png 300w" sizes="(max-width: 631px) 100vw, 631px" /></a></figure>
<a href="https://bzresearch.myclickfunnels.com/benzinga-pro-content-webinar-registration/?utm_source=BZprocontent083024&amp;t=be2bearmibe3na1" target="_blank" rel="noreferrer noopener">Chart created using Benzinga Pro</a>
Currently, the stock price is $276.02, hovering below critical moving averages. The 50-day SMA sits at $301.72 and the 200-day SMA is at $299.90, both indicating bearish trends. 
<figure class="wp-block-image size-full"><a href="https://bzresearch.myclickfunnels.com/benzinga-pro-content-webinar-registration/?utm_source=BZprocontent083024&amp;t=be2bearmibe3na1"><img loading="lazy" decoding="async" width="631" height="461" src="https://editorial-assets.benzinga.com/wp-content/uploads/2024/08/30112904/Screenshot-2024-08-30-at-8.57.21-PM.png" alt="" class="wp-image-523579" srcset="https://editorial-assets.benzinga.com/wp-content/uploads/2024/08/30112904/Screenshot-2024-08-30-at-8.57.21-PM.png 631w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/08/30112904/Screenshot-2024-08-30-at-8.57.21-PM-300x219.png 300w" sizes="(max-width: 631px) 100vw, 631px" /></a></figure>
<a href="https://bzresearch.myclickfunnels.com/benzinga-pro-content-webinar-registration/?utm_source=BZprocontent083024&amp;t=be2bearmibe3na1" target="_blank" rel="noreferrer noopener">Chart created using Benzinga Pro</a>
The MACD indicator is also in the red at a negative 3.63, suggesting further downward momentum. There appears to be slight buying pressure — as CrowdStrike stock's eight-day and 20-day SMAs are slightly below the current price. However, the overall trend leans bearish.
As CrowdStrike battles both technical headwinds and a high-stakes legal showdown, investors might want to keep their shields up. 
The Death Cross looms large and unless CrowdStrike can patch up its issues, this stock might continue its downward drift.
Read Next: 
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<li><a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/08/40629688/crowdstrike-analysts-see-execution-at-high-level-after-microsoft-outage-why-doomsda">CrowdStrike Analysts See Execution At High Level After Microsoft Outage: Why &#8216;Doomsday Scenario&#8217; Didn&#8217;t Happen</a></li>
</ul>
Photo: Shutterstock

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