High-rolling investors have positioned themselves bullish on DoorDash DASH, and it's important for retail traders to take note. \This activity came to our attention today through Benzinga's tracking of publicly available options data. The identities of these investors are uncertain, but such a significant move in DASH often signals that someone has privileged information.
Today, Benzinga's options scanner spotted 9 options trades for DoorDash. This is not a typical pattern.
The sentiment among these major traders is split, with 100% bullish and 0% bearish. Among all the options we identified, there was one put, amounting to $25,800, and 8 calls, totaling $948,058.
Expected Price Movements
Based on the trading activity, it appears that the significant investors are aiming for a price territory stretching from $160.0 to $167.5 for DoorDash over the recent three months.
Insights into 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 $160.0 to $167.5 over the preceding 30 days.
DoorDash 30-Day Option Volume & Interest Snapshot
Noteworthy Options Activity:
| Symbol | PUT/CALL | Trade Type | Sentiment | Exp. Date | Ask | Bid | Price | Strike Price | Total Trade Price | Open Interest | Volume |
|---|---|---|---|---|---|---|---|---|---|---|---|
| DASH | CALL | SWEEP | BULLISH | 12/27/24 | $3.55 | $3.45 | $3.55 | $165.00 | $416.7K | 23 | 1.2K |
| DASH | CALL | SWEEP | BULLISH | 12/27/24 | $3.7 | $3.0 | $3.05 | $165.00 | $114.9K | 23 | 2.6K |
| DASH | CALL | TRADE | BULLISH | 12/27/24 | $3.3 | $2.54 | $3.3 | $167.50 | $99.0K | 103 | 303 |
| DASH | CALL | SWEEP | BULLISH | 12/27/24 | $3.4 | $3.4 | $3.4 | $165.00 | $87.7K | 23 | 1.6K |
| DASH | CALL | SWEEP | BULLISH | 12/27/24 | $3.35 | $3.3 | $3.35 | $165.00 | $66.6K | 23 | 2.2K |
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.
Having examined the options trading patterns of DoorDash, our attention now turns directly to the company. This shift allows us to delve into its present market position and performance
Where Is DoorDash Standing Right Now?
- With a volume of 708,277, the price of DASH is down -0.62% at $166.61.
- RSI indicators hint that the underlying stock may be approaching oversold.
- Next earnings are expected to be released in 55 days.
Expert Opinions on DoorDash
Over the past month, 3 industry analysts have shared their insights on this stock, proposing an average target price of $214.33333333333334.
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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. * Maintaining their stance, an analyst from Truist Securities continues to hold a Buy rating for DoorDash, targeting a price of $217. * Maintaining their stance, an analyst from RBC Capital continues to hold a Outperform rating for DoorDash, targeting a price of $215. * An analyst from Citigroup persists with their Buy rating on DoorDash, maintaining a target price of $211.
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.
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
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