Investors with a lot of money to spend have taken a bullish stance on DoorDash DASH.
And retail traders should know.
We noticed this today when the trades showed up on publicly available options history that we track here at Benzinga.
Whether these are institutions or just wealthy individuals, we don't know. But when something this big happens with DASH, it often means somebody knows something is about to happen.
So how do we know what these investors just did?
Today, Benzinga's options scanner spotted 9 uncommon options trades for DoorDash.
This isn't normal.
The overall sentiment of these big-money traders is split between 66% bullish and 11%, bearish.
Out of all of the special options we uncovered, 2 are puts, for a total amount of $59,637, and 7 are calls, for a total amount of $238,517.
Predicted Price Range
Based on the trading activity, it appears that the significant investors are aiming for a price territory stretching from $100.0 to $130.0 for DoorDash over the recent three months.
Insights into Volume & Open Interest
Looking at the volume and open interest is a powerful move while trading options. 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 trades within a strike price range from $100.0 to $130.0 in the last 30 days.
DoorDash Call and Put Volume: 30-Day Overview
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 | TRADE | BULLISH | 11/15/24 | $20.5 | $19.4 | $20.5 | $115.00 | $41.0K | 1.5K | 0 |
| DASH | CALL | TRADE | BEARISH | 01/17/25 | $37.2 | $36.6 | $36.6 | $100.00 | $36.6K | 1.2K | 11 |
| DASH | CALL | TRADE | BULLISH | 11/15/24 | $14.55 | $14.45 | $14.58 | $125.00 | $34.9K | 2.3K | 64 |
| DASH | CALL | TRADE | BULLISH | 11/15/24 | $14.55 | $14.55 | $14.55 | $125.00 | $34.9K | 2.3K | 88 |
| DASH | PUT | SWEEP | NEUTRAL | 10/25/24 | $2.92 | $2.52 | $2.72 | $125.00 | $34.2K | 3 | 125 |
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.
Following our analysis of the options activities associated with DoorDash, we pivot to a closer look at the company's own performance.
Where Is DoorDash Standing Right Now?
- Currently trading with a volume of 985,517, the DASH's price is up by 1.57%, now at $132.23.
- RSI readings suggest the stock is currently may be approaching overbought.
- Anticipated earnings release is in 47 days.
Expert Opinions on DoorDash
In the last month, 1 experts released ratings on this stock with an average target price of $160.0.
- In a cautious move, an analyst from Cantor Fitzgerald downgraded its rating to Overweight, setting a price target of $160.
Options trading presents higher risks and potential rewards. Astute traders manage these risks by continually educating themselves, adapting their strategies, monitoring multiple indicators, and keeping a close eye on market movements. Stay informed about the latest DoorDash options trades with real-time alerts from Benzinga Pro.
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
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