A new earnings season is about to begin, and Delta Air Lines Inc (NYSE:DAL) will be among the first to announce quarterly results, with its fiscal first-quarter results slated for release before the open on Wednesday, April 8. The stock was last seen 0.2% higher to trade at $66.88, enjoying some respite from flat oil prices, despite a rejected ceasefire deal between the U.S. and Iran.
DAL is looking to score its third gain in the last four sessions and is fresh off its fourth-straight weekly win, but also just marked its first quarterly loss since March 2025. The shares recently slipped below their year-to-date breakeven and have shaved 12% off their Feb. 11 record high of $76.39, though longer term they still sport an 80.8% year-over-year lead.
The equity has a mixed history of post-earnings reactions, however. DAL settled lower after four of its last eight earnings reports, including a 2.4% drop following its most recent result in January. The options pits are currently pricing in a move of 9.4%, regardless of direction, which is far higher than the 7.3% move shares averaged in the last two years.
Options traders are betting on downside for Delta Air Lines stock, per its 50-day put/call volume ratio of 1.59 over at the International Securities Exchange (ISE), Chicago Board Options Exchange (CBOE), and NASDAQ OMX PHLX (PHLX), which sits higher than 94% of annual readings.
