Investors with significant funds have taken a bullish position in DoorDash DASH, a development that retail traders should be aware of.
This was brought to our attention today through our monitoring of publicly accessible options data at Benzinga. The exact nature of these investors remains a mystery, but such a major move in DASH usually indicates foreknowledge of upcoming events.
Today, Benzinga's options scanner identified 9 options transactions for DoorDash. This is an unusual occurrence. The sentiment among these large-scale traders is mixed, with 66% being bullish and 22% bearish. Of all the options we discovered, 8 are puts, valued at $286,984, and there was a single call, worth $54,000.
Projected Price Targets
Analyzing the Volume and Open Interest in these contracts, it seems that the big players have been eyeing a price window from $95.0 to $125.0 for DoorDash during the past quarter.
Volume & Open Interest Development
Examining the volume and open interest provides crucial insights into stock research. This information is key in gauging liquidity and interest levels for DoorDash's options at certain strike prices. Below, we present a snapshot of the trends in volume and open interest for calls and puts across DoorDash's significant trades, within a strike price range of $95.0 to $125.0, over the past month.
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 | PUT | TRADE | BULLISH | 01/17/25 | $8.05 | $7.95 | $7.95 | $120.00 | $58.8K | 1.3K | 74 |
| DASH | CALL | TRADE | BULLISH | 10/18/24 | $6.0 | $5.95 | $6.0 | $125.00 | $54.0K | 1.5K | 179 |
| DASH | PUT | SWEEP | BULLISH | 03/21/25 | $3.25 | $3.05 | $3.1 | $95.00 | $39.3K | 20 | 1.0K |
| DASH | PUT | SWEEP | NEUTRAL | 01/17/25 | $1.89 | $1.71 | $1.8 | $95.00 | $36.3K | 877 | 202 |
| DASH | PUT | SWEEP | BEARISH | 09/20/24 | $0.67 | $0.66 | $0.67 | $115.00 | $33.7K | 760 | 540 |
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.
Current Position of DoorDash
- With a volume of 981,111, the price of DASH is up 1.12% at $126.44.
- RSI indicators hint that the underlying stock may be approaching overbought.
- Next earnings are expected to be released in 56 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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