Behind the Scenes of DoorDash's Latest Options Trends

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 23 uncommon options trades for DoorDash.

This isn't normal.

The overall sentiment of these big-money traders is split between 69% bullish and 13%, bearish.

Out of all of the special options we uncovered, 5 are puts, for a total amount of $495,830, and 18 are calls, for a total amount of $1,175,905.

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 $45.0 and $160.0 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 $45.0 to $160.0 over the preceding 30 days.

DoorDash Option Activity Analysis: Last 30 Days

Biggest Options Spotted:

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.

In light of the recent options history for DoorDash, it's now appropriate to focus on the company itself. We aim to explore its current performance.

DoorDash's Current Market Status

• With a volume of 1,756,798, the price of DASH is up 0.35% at $145.0.
• RSI indicators hint that the underlying stock may be overbought.
• Next earnings are expected to be released in 19 days.

What The Experts Say On DoorDash

5 market experts have recently issued ratings for this stock, with a consensus target price of $155.4.

Turn $1000 into $1270 in just 20 days?

20-year pro options trader reveals his one-line chart technique that shows when to buy and sell. Copy his trades, which have had averaged a 27% profit every 20 days. Click here for access. * An analyst from JMP Securities persists with their Market Outperform rating on DoorDash, maintaining a target price of $160. * In a cautious move, an analyst from Cantor Fitzgerald downgraded its rating to Overweight, setting a price target of $160. * Consistent in their evaluation, an analyst from Oppenheimer keeps a Outperform rating on DoorDash with a target price of $160. * In a cautious move, an analyst from Raymond James downgraded its rating to Outperform, setting a price target of $155. * An analyst from Wells Fargo has decided to maintain their Equal-Weight rating on DoorDash, which currently sits at a price target of $142.

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 DoorDash with Benzinga Pro for real-time alerts.