Investors with a lot of money to spend have taken a bearish 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 this is an institution or just a wealthy individual, we don't know. But when something this big happens with DASH, it often means somebody knows something is about to happen.
Today, Benzinga's options scanner spotted 11 options trades for DoorDash.
This isn't normal.
The overall sentiment of these big-money traders is split between 18% bullish and 72%, bearish.
Out of all of the options we uncovered, 10 are puts, for a total amount of $1,820,021, and there was 1 call, for a total amount of $70,500.
What's The Price Target?
Analyzing the Volume and Open Interest in these contracts, it seems that the big players have been eyeing a price window from $170.0 to $180.0 for DoorDash during the past quarter.
Analyzing Volume & Open Interest
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 $170.0 to $180.0 over the preceding 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 | PUT | SWEEP | BEARISH | 01/10/25 | $3.5 | $3.35 | $3.5 | $170.00 | $829.5K | 14 | 3.6K |
| DASH | PUT | SWEEP | BEARISH | 01/10/25 | $3.5 | $3.35 | $3.5 | $170.00 | $260.0K | 14 | 4.3K |
| DASH | PUT | SWEEP | BULLISH | 01/17/25 | $4.45 | $4.4 | $4.4 | $170.00 | $192.7K | 913 | 1.1K |
| DASH | PUT | SWEEP | BEARISH | 01/10/25 | $3.5 | $3.4 | $3.5 | $170.00 | $187.6K | 14 | 3 |
| DASH | PUT | SWEEP | BEARISH | 01/10/25 | $3.5 | $3.35 | $3.5 | $170.00 | $103.6K | 14 | 4.8K |
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 trading volume of 1,073,074, the price of DASH is down by -0.78%, reaching $174.64.
- Current RSI values indicate that the stock is may be approaching overbought.
- Next earnings report is scheduled for 62 days from now.
What Analysts Are Saying About DoorDash
A total of 2 professional analysts have given their take on this stock in the last 30 days, setting an average price target of $213.0.
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 RBC Capital persists with their Outperform rating on DoorDash, maintaining a target price of $215. * Consistent in their evaluation, an analyst from Citigroup keeps a Buy rating on DoorDash with a target price of $211.
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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