DAL as of Oct 31 · 05:32 ET

DALNYSEAir Transportation, Scheduled

Delta Air Lines, Inc. · Brief

Next report

73 days

Jan 12 · before openest.Q4 FY26

Earnings

Expected move

Inputs

±3.6%implied · report alone

77.2683.04

straddle ±13.1%

spot 80.15exp Jan 15ATM strike 80ATM straddle 12.35IV 42%

Oct 30 closereport share · term structure

Expected move

Inputs

Implied vs realized

8 reportsHistory

3 of 8≥ implied

avg implied: ±5.9%
avg realized: ±7.1%

Jan 10 '25±4.7%▲+9.00%×1.90

Apr 9 '25±10.0%▲+23.38%×2.34

Jul 10 '25±6.0%▲+11.99%×2.01

Oct 9 '25±5.9%▲+4.29%×0.73

Jan 13 '26±5.6%▼−2.39%×0.43

Q1 FY26±5.9%▲+3.75%×0.63

Q2 FY26±4.0%▼−1.81%×0.45

Q3 FY26±5.3%▲+0.04%×0.01

quarterimplied−25%0+25%realized×

Q3 FY26±5.3%▲+0.04%×0.01

Q2 FY26±4.0%▼−1.81%×0.45

Q1 FY26±5.9%▲+3.75%×0.63

Jan '26±5.6%▼−2.39%×0.43

Oct '25±5.9%▲+4.29%×0.73

Jul '25±6.0%▲+11.99%×2.01

2 older reports

Apr '25±10.0%▲+23.38%×2.34

Jan '25±4.7%▲+9.00%×1.90

Shaded = implied · tick ▲▼ = realized · × = |realized| ÷ impliedSource: options EOD · implied at prior close · realized close to close

Bull & bear

Jan 12 report · est.

Bull2 of 3

10tracked funds holding DALN-PORT · Aug 31 '26

1,526managers reporting a position in the latest quarterly filings13F · Jun 30 '26

Bear1

16 of 25largest reporting managers trimming their stakes in the latest quarter13F · Jun 30 '26

AI captions · Oct 12 '26once per report · top 2 per case

Linked exposure

DAL report session

Suppliers 4

SKYWSkyWest Airlines×0.64 SPHRSphere Entertainment×0.51 SHAKShake Shack×0.49 AIRAirbus S.A.S×0.47

Customers 1

AXPAmerican Express×0.40

× = co-movement · max 501dSource: SEC filings · market data

Latest changes

30 daysAll changes

Oct 8impliedImplied move: ±3.6% into Oct 9 earnings (Oct 8 close).Source

Your note

privateThesis 0 · Decisions 0 · Observations 0

No thesis.