DAL (DAL) options memo

The Read

DAL is down 0.53% today at $89.93.

Options traders lean neutral into 2026-07-10, and neutral further out.

A move through $93.93 would change how dealers hedge this stock.

Key numbers

• Spot: $89.93
• Lean: neutral
• Nearest expiry: Fri 8/14
• Implied move: 2.1%
• ATM implied volatility: 40.2%
• Max pain: $89.00
• Pin strike: $94.00
• Gamma flip: $93.06
• Dealer positioning: SHORT GAMMA
• Call wall: $94.00
• Put wall: $87.00
• Put/call open interest: 0.326