Deep-pocketed investors have adopted a bearish approach towards DocuSign DOCU, and it's something market players shouldn't ignore. Our tracking of public options records at Benzinga unveiled this significant move today. The identity of these investors remains unknown, but such a substantial move in DOCU usually suggests something big is about to happen.
We gleaned this information from our observations today when Benzinga's options scanner highlighted 13 extraordinary options activities for DocuSign. This level of activity is out of the ordinary.
The general mood among these heavyweight investors is divided, with 46% leaning bullish and 53% bearish. Among these notable options, 3 are puts, totaling $127,900, and 10 are calls, amounting to $560,655.
Expected Price Movements
Taking into account the Volume and Open Interest on these contracts, it appears that whales have been targeting a price range from $50.0 to $65.0 for DocuSign over the last 3 months.
Insights into Volume & Open Interest
In terms of liquidity and interest, the mean open interest for DocuSign options trades today is 1870.88 with a total volume of 4,026.00.
In the following chart, we are able to follow the development of volume and open interest of call and put options for DocuSign's big money trades within a strike price range of $50.0 to $65.0 over the last 30 days.
DocuSign Call and Put Volume: 30-Day Overview
Largest Options Trades Observed:
| Symbol | PUT/CALL | Trade Type | Sentiment | Exp. Date | Strike Price | Total Trade Price | Open Interest | Volume |
|---|---|---|---|---|---|---|---|---|
| DOCU | CALL | SWEEP | NEUTRAL | 07/19/24 | $50.00 | $80.0K | 1.5K | 7 |
| DOCU | CALL | SWEEP | NEUTRAL | 07/19/24 | $50.00 | $73.8K | 1.5K | 197 |
| DOCU | CALL | SWEEP | BULLISH | 02/16/24 | $55.00 | $70.3K | 2.8K | 1.0K |
| DOCU | CALL | SWEEP | BULLISH | 06/21/24 | $55.00 | $67.8K | 1.2K | 151 |
| DOCU | CALL | TRADE | BEARISH | 03/15/24 | $55.00 | $67.0K | 2.7K | 559 |
About DocuSign
DocuSign offers the Agreement Cloud, a broad cloud-based software suite that enables users to automate the agreement process and provide legally binding e-signatures from nearly any device. The company was founded in 2003 and completed its IPO in May 2018.
After a thorough review of the options trading surrounding DocuSign, we move to examine the company in more detail. This includes an assessment of its current market status and performance.
DocuSign's Current Market Status
- With a trading volume of 5,465,347, the price of DOCU is down by -1.41%, reaching $57.3.
- Current RSI values indicate that the stock is is currently neutral between overbought and oversold.
- Next earnings report is scheduled for 31 days from now.
What The Experts Say On DocuSign
3 market experts have recently issued ratings for this stock, with a consensus target price of $66.0.
- Reflecting concerns, an analyst from RBC Capital lowers its rating to Sector Perform with a new price target of $50.
- An analyst from JMP Securities has revised its rating downward to Market Outperform, adjusting the price target to $84.
- Showing optimism, an analyst from Morgan Stanley upgrades its rating to Equal-Weight with a revised price target of $64.
Trading options involves greater risks but also offers the potential for higher profits. Savvy traders mitigate these risks through ongoing education, strategic trade adjustments, utilizing various indicators, and staying attuned to market dynamics. Keep up with the latest options trades for DocuSign with Benzinga Pro for real-time alerts.
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
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