Delta Air Lines, Inc. (DAL)
Overview · Option chain · Volatility · Expected-move history · Earnings
Cboe delayed options data · as of 06:35 UTC · Figures derived from the full chain (932 contracts, 13 expirations) · IV own-history percentile appears after 60 recorded days (28 so far)
Expected move · Nov 20, 2026 (32 days)
Methodology →Read from option prices: the at-the-money straddle costs this much, so the market is pricing a move of about that size in either direction by this date. It is an estimate of movement, not a prediction of direction.
Options are pricing a move of about ±9.3% (range 68.27–82.31) by Nov 20, 2026. ATM straddle: 7.03 @ strike 75 · ATM IV: 37.6%.
Probability distribution
Model & assumptions →The curve shows where a lognormal model, fed with current implied volatility, puts the range of outcomes at this expiration. Shaded: the expected-move band.
| Level | vs price | P(above)Model-estimated chance the stock finishes above a level at expiration, derived from current IV under a lognormal model with stated assumptions — an estimate, not a prediction. | P(below) |
|---|---|---|---|
| 67.76 | -10% | 81.4% | 18.6% |
| 71.53 | -5% | 65.7% | 34.3% |
| 75.29 | +0% | 47.8% | 52.2% |
| 79.05 | +5% | 31.1% | 68.9% |
| 82.82 | +10% | 18.1% | 81.9% |
Model-estimated probabilities of finishing above/below each level at expiration: estimates under stated assumptions, not predictions.
Probability explorer
Drag the slider to any level and see the model-estimated chance the stock finishes above or below it at the selected expiration.
Horizon: Nov 20, 2026 · lognormal model with zero drift: an estimate, not a prediction. Assumptions
Expirations
Open the chain →| Expires | DTEDays to expiration, in calendar days. | Implied move | ATM IV | Open int. |
|---|---|---|---|---|
| Oct 23, 2026 | 4 | ±4.8% | 43.2% | 27.0K |
| Oct 30, 2026 | 11 | ±6.5% | 41.1% | 8,584 |
| Nov 06, 2026 | 18 | ±7.6% | 39.4% | 2,733 |
| Nov 13, 2026 | 25 | ±8.7% | 39.0% | 2,188 |
| Nov 20, 2026 | 32 | ±9.3% | 37.6% | 74.2K |
| Nov 27, 2026 | 39 | ±10.3% | 37.8% | 867 |
| Dec 18, 2026 | 60 | ±12.3% | 36.8% | 78.1K |
| Jan 15, 2027 | 88 | ±14.8% | 37.0% | 120.1K |
| Mar 19, 2027 | 151 | ±20.1% | 38.7% | 26.1K |
Open interest by strike · Nov 20
Where option positions are concentrated. Teal bars are calls, red bars are puts; the dashed line is the current price.
Largest open-interest concentrations (all expirations ≤ 60 days): 90 C · 19.4K85 C · 19.4K82.5 C · 13.1K95 C · 12.3K72.5 P · 11.2K
IV term structure
Volatility page →At-the-money implied volatility for each expiration. A hump around a date often marks a scheduled event the market is pricing.
When does open interest expire?
Implied vs realized volatility
HV from our stored daily closes (annualized); IV30 interpolated from the chain. Method
Price, last 60 sessions
Daily closes; Financial Modeling Prep.
Track record
Full history →Of 93 recorded snapshot-versus-outcome comparisons so far, the close landed inside the expected range 77.4% of the time.
Past earnings reactions
Avg |reaction| 4.4% · median 3.5% (22 reports). Two-session close-to-close window; definition
About Delta Air Lines, Inc.
Delta Air Lines, Inc. provides scheduled air transportation for passengers and cargo in the United States and internationally. The company operates through two segments, Airline and Refinery. Its domestic network centered on core hubs in Atlanta, Detroit, Minneapolis-St. Paul, and Salt Lake City, as well as coastal hub positions in Boston, Los Angeles, New York-LaGuardia, New York-JFK, and Seattle; and international network centered on hubs and market presence in Amsterdam, Bogota, Lima, Mexico City, London-Heathrow, Paris-Charles de Gaulle, Santiago (Chile), Sao Paulo, Seoul-Incheon, and Tokyo. It also provides aircraft maintenance and engineering support, repair, and overhaul services; and vacation packages. The company operates through a fleet of approximately 1,314 aircraft. Delta Air Lines, Inc. was founded in 1924 and is headquartered in Atlanta, Georgia.
Industrials · Airlines, Airports & Air Services · NYSE · Profile: Financial Modeling Prep
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