Delta Air Lines (DAL) Options Chain

NYSE: DALConsumer DiscretionaryAir Freight/Delivery ServicesUSD

82.17+0.03 (+0.04%)

At close: Oct 9, 4:00 PM ET · Delayed 15 min

Expiration date

Expiration: Nov 20, 2026
Days to expiration: 40
Share price: $82.17
Put/call ratio (OI): 0.27
Put/call ratio (volume): 0.13
ATM implied volatility: 37.3%
Expected move: ±$10.13
Open interest (C / P): 42.23K / 11.47K

DAL options summary

The DAL options chain for the November 20, 2026 expiration lists 22 call and 17 put contracts, with 40 days until expiration. Open interest stands at 42,230 calls and 11,468 puts, a put/call ratio of 0.27, which is tilted bullish, with calls outnumbering puts. At-the-money implied volatility near the $82.50 strike is 37.3%, which implies the market expects a move of about ±$10.13 (12.3%) in Delta Air Lines stock by expiration.

The most open interest sits at the $90.00 call (19.00K contracts) and the $70.00 put (3.52K contracts).

Summary generated from market data by MetaCap's automated system. Methodology

DAL options chain · November 20, 2026

DAL calls and puts by strike price. Shaded cells are in the money.
Calls							Puts
OI	Vol	IV	Last	Bid	Ask	Strike	Bid	Ask	Last	IV	Vol	OI
16	10	122.6%	35.24	30.30	33.60	50.00	0.00	0.05	0.02	59.4%	23	57
20	7	61.1%	30.00	26.10	28.50	55.00	0.00	0.07	0.11	50.8%	1	431
5	2	88.4%	25.08	20.55	23.70	60.00	0.04	0.08	0.07	45.8%	58	121
8	1	56.8%	17.29	15.50	17.90	65.00	0.12	0.26	0.21	44.1%	92	1,203
57	5	54.3%	11.77	11.45	13.60	70.00	0.40	0.53	0.46	39.1%	674	3,521
5	1	51.0%	11.27	9.25	11.45	72.50	0.67	0.80	0.80	37.3%	581	1,161
69	40	43.3%	7.98	7.60	9.00	75.00	1.15	1.28	1.24	36.7%	340	1,214
285	15	45.6%	6.00	5.95	7.55	77.50	1.81	1.95	1.90	36.0%	105	453
1,474	235	38.5%	5.20	4.90	5.35	80.00	2.71	2.94	2.83	36.3%	540	1,192
DAL $82.17
1,400	240	37.8%	3.85	3.70	4.00	82.50	3.80	4.20	4.25	36.7%	342	864
5,693	10,562	37.0%	2.74	2.66	2.87	85.00	5.15	5.65	5.50	36.5%	218	519
994	184	37.9%	1.94	1.85	2.15	87.50	6.55	8.05	8.00	43.6%	2	97
18,998	11,480	36.0%	1.26	1.17	1.35	90.00	8.55	9.95	10.10	44.5%	2	494
1,202	113	36.2%	0.85	0.83	0.92	92.50	10.75	13.10	11.35	57.6%	34	35
8,832	63	36.6%	0.61	0.53	0.63	95.00	12.70	14.60	11.75	52.3%	5	91
651	39	38.4%	0.30	0.31	0.49	97.50	14.80	17.70	19.70	64.7%	1	13
2,162	42	42.6%	0.28	0.21	0.50	100.00	17.55	20.10	16.40	51.5%	1	2
167	40	42.2%	0.10	0.07	0.22	105.00	—	—	—	—	—	—
172	2	43.6%	0.09	0.03	0.12	110.00	—	—	—	—	—	—
3	1	48.4%	0.05	0.01	0.11	115.00	—	—	—	—	—	—
10	5	55.7%	0.05	0.00	0.29	120.00	—	—	—	—	—	—
7	—	87.3%	0.05	0.00	1.13	135.00	—	—	—	—	—	—

In-the-money callsIn-the-money puts. IV = implied volatility, OI = open interest (contracts). Each contract covers 100 shares. Quotes delayed at least 15 minutes.

Frequently asked questions

What is the DAL put/call ratio?

For the November 20, 2026 expiration, the DAL put/call ratio based on open interest is 0.27 (11,468 puts vs 42,230 calls), and 0.13 based on today's volume. A ratio above 1 means more puts than calls.

What is DAL's implied volatility?

At-the-money implied volatility for DAL options expiring November 20, 2026 is about 37.3%, an annualized estimate of how much the market expects Delta Air Lines stock to move.

How many DAL option expiration dates are there?

DAL has 13 listed expiration dates, from Oct 16, 2026 to Jan 19, 2029.

What does "in the money" mean?

A call is in the money when the strike price is below the current share price; a put is in the money when the strike is above it. In-the-money contracts have intrinsic value and are shaded in the table.