Whales with a lot of money to spend have taken a noticeably bearish stance on DoorDash.
Looking at options history for DoorDash DASH we detected 26 trades.
If we consider the specifics of each trade, it is accurate to state that 42% of the investors opened trades with bullish expectations and 53% with bearish.
From the overall spotted trades, 6 are puts, for a total amount of $301,460 and 20, calls, for a total amount of $1,342,793.
What's The Price Target?
After evaluating the trading volumes and Open Interest, it's evident that the major market movers are focusing on a price band between $80.0 and $125.0 for DoorDash, spanning the last three months.
Volume & Open Interest Development
Assessing the volume and open interest is a strategic step in options trading. These metrics shed light on the liquidity and investor interest in DoorDash's options at specified strike prices. The forthcoming data visualizes the fluctuation in volume and open interest for both calls and puts, linked to DoorDash's substantial trades, within a strike price spectrum from $80.0 to $125.0 over the preceding 30 days.
DoorDash Option Activity Analysis: Last 30 Days
Significant Options Trades Detected:
| Symbol | PUT/CALL | Trade Type | Sentiment | Exp. Date | Ask | Bid | Price | Strike Price | Total Trade Price | Open Interest | Volume |
|---|---|---|---|---|---|---|---|---|---|---|---|
| DASH | CALL | SWEEP | BEARISH | 08/16/24 | $5.4 | $5.4 | $5.4 | $105.00 | $328.8K | 2.1K | 23 |
| DASH | CALL | SWEEP | BEARISH | 09/20/24 | $10.55 | $10.0 | $10.0 | $100.00 | $199.0K | 15 | 41 |
| DASH | CALL | SWEEP | BEARISH | 08/16/24 | $3.75 | $3.7 | $3.7 | $110.00 | $132.4K | 1.9K | 125 |
| DASH | PUT | SWEEP | BEARISH | 07/19/24 | $4.0 | $0.95 | $2.8 | $105.00 | $83.3K | 4.2K | 1.0K |
| DASH | CALL | SWEEP | BULLISH | 08/16/24 | $5.5 | $5.45 | $5.45 | $105.00 | $59.9K | 2.1K | 654 |
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.
Current Position of DoorDash
- With a trading volume of 2,302,388, the price of DASH is down by -2.94%, reaching $100.13.
- Current RSI values indicate that the stock is may be approaching oversold.
- Next earnings report is scheduled for 14 days from now.
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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