Delta Air Lines Stock Pops as U.S. Pauses Iran Strikes

The travel sector is enjoying a boost this morning, after President Donald Trump said the U.S. will pause strikes on Iranian energy infrastructure for five days after productive talks took place on ending the war. In response, Delta Air Lines Inc (NYSE:DAL) is up 3.8% to trade at $65.85 at last glance, brushing off Transportation Security Administration (TSA) staff shortages amid the partial government shutdown and the recent surge in oil prices.

DAL is down 4.3% so far in 2026, though longer term it sports a 41.3% year-over-year lead. The shares shaved more than 20% off their Feb 11, all-time high of $76.39 before finding a floor at $56, which contained pullbacks in September and November. DAL is currently testing resistance from its 40-day moving average, which has been in place since late February.

Options traders lean firmly bearish. This is per the stock's 10-day put/call volume ratio of 1.12 at the International Securities Exchange (ISE), Chicago Board Options Exchange (CBOE), and NASDAQ OMX PHLX (PHLX) , which ranks in the 97th percentile of annual readings.

Options are affordably priced, per DAL's Schaeffer's Volatility Index (SVI) of 58% that sits higher than 27% of all other readings from the last year. In simpler terms, options traders are pricing in relatively low volatility expectations.