Deep-pocketed investors have adopted a bullish approach towards DoorDash DASH, 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 DASH usually suggests something big is about to happen.
We gleaned this information from our observations today when Benzinga's options scanner highlighted 10 extraordinary options activities for DoorDash. This level of activity is out of the ordinary.
The general mood among these heavyweight investors is divided, with 50% leaning bullish and 40% bearish. Among these notable options, 4 are puts, totaling $197,792, and 6 are calls, amounting to $491,495.
Projected Price Targets
Based on the trading activity, it appears that the significant investors are aiming for a price territory stretching from $80.0 to $130.0 for DoorDash over the recent three months.
Volume & Open Interest Development
Looking at the volume and open interest is an insightful way to conduct due diligence on a stock.
This data can help you track the liquidity and interest for DoorDash's options for a given strike price.
Below, we can observe the evolution of the volume and open interest of calls and puts, respectively, for all of DoorDash's whale activity within a strike price range from $80.0 to $130.0 in the last 30 days.
DoorDash Option Volume And Open Interest Over Last 30 Days
Noteworthy Options Activity:
| Symbol | PUT/CALL | Trade Type | Sentiment | Exp. Date | Ask | Bid | Price | Strike Price | Total Trade Price | Open Interest | Volume |
|---|---|---|---|---|---|---|---|---|---|---|---|
| DASH | CALL | TRADE | NEUTRAL | 09/20/24 | $3.4 | $3.2 | $3.3 | $130.00 | $330.0K | 146 | 10 |
| DASH | PUT | SWEEP | BULLISH | 07/19/24 | $2.84 | $2.74 | $2.75 | $110.00 | $66.0K | 4.4K | 186 |
| DASH | PUT | SWEEP | BULLISH | 07/19/24 | $3.05 | $2.9 | $2.9 | $110.00 | $52.2K | 4.4K | 6 |
| DASH | CALL | TRADE | BEARISH | 01/16/26 | $39.25 | $39.1 | $39.1 | $90.00 | $43.0K | 40 | 0 |
| DASH | PUT | TRADE | BEARISH | 07/19/24 | $1.06 | $1.03 | $1.06 | $103.00 | $41.2K | 0 | 0 |
About DoorDash
Founded in 2013 and headquartered in San Francisco, DoorDash is an online food order demand aggregator. Consumers can use its app to order food on-demand for pickup or delivery from merchants mainly in the US. Through the acquisition of Wolt in 2022, the firm also provides this service in Europe. DoorDash provides a marketplace for the merchants to create a presence online, market their offerings, and meet demand by making the offerings available for pickup or delivery. The firm provides similar service to businesses in addition to restaurants, such as grocery, retail, pet supplies, and flowers.
After a thorough review of the options trading surrounding DoorDash, we move to examine the company in more detail. This includes an assessment of its current market status and performance.
Where Is DoorDash Standing Right Now?
- With a volume of 1,782,225, the price of DASH is down -2.95% at $110.52.
- RSI indicators hint that the underlying stock is currently neutral between overbought and oversold.
- Next earnings are expected to be released in 37 days.
Options are a riskier asset compared to just trading the stock, but they have higher profit potential. Serious options traders manage this risk by educating themselves daily, scaling in and out of trades, following more than one indicator, and following the markets closely.
If you want to stay updated on the latest options trades for DoorDash, Benzinga Pro gives you real-time options trades alerts.
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
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