Delta Air Lines Options Traders Betting Stock Will Continue Flying Higher
Delta Air Lines (DAL) shares moved higher on Tuesday and Wednesday before the broad selloff instigated by Fed’s rate hike pessimism, after Evercore ISI upgraded the stock from In-Line to Outperform and raised its price target from $40 to $47.
Delta Air Lines (DAL) shares moved higher on Tuesday and Wednesday before the broad selloff instigated by Fed’s rate hike pessimism, after Evercore ISI upgraded the stock from In-Line to Outperform and raised its price target from $40 to $47. Delta Air Lines (DAL) has shown strong relative performance in recent weeks. DAL stock also now trades above the 21-day exponential moving average. And the long-term 200-day line, barely seen in Delta's rearview mirror, is trying to flatten out.
On CNBC’s “Options Action,” Mike Khouw of Optimize Advisors said Delta traded at more than 3x average daily call volume on Tuesday. There were 3x more calls than puts on the stock. The trader expects Delta’s stock to continue to fly higher.
Delta pilots recently approved a new deal that provides a 34% pay boost over a four-year agreement, setting a potential example as other U.S. carriers and their pilots’ unions pursue similar contract negotiations. Delta said the agreement, which runs through December 2026, would position its 15,000 pilots to enjoy competitive compensation and work-rule headways.
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