Spotlight on DoorDash: Analyzing the Surge in Options Activity

Financial giants have made a conspicuous bullish move on DoorDash. Our analysis of options history for DoorDash DASH revealed 14 unusual trades.

Delving into the details, we found 35% of traders were bullish, while 35% showed bearish tendencies. Out of all the trades we spotted, 6 were puts, with a value of $238,380, and 8 were calls, valued at $1,606,006.

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 $145.0 to $230.0 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 $145.0 to $230.0 over the preceding 30 days.

DoorDash Option Volume And Open Interest Over Last 30 Days

Noteworthy Options Activity:

About DoorDash

Founded in 2013 and headquartered in San Francisco, DoorDash is an online delivery demand aggregator. Consumers can use its app to order food items on-demand for delivery or in-store from merchants. Through the acquisition of Wolt in 2022, the firm also provides this service in Europe and Asia. DoorDash creates a marketplace for merchants to establish a presence online, market their offerings, and meet demand through delivery. The firm provides similar service to nonrestaurant businesses, such as grocery, retail, and pet supplies. Dash is also rolling out nascent technology like drone delivery in an effort to continually innovate and provide the best possible service to supply-side and demand-side contingents of its marketplace.

After a thorough review of the options trading surrounding DoorDash, we move to examine the company in more detail. This includes an assessment of its current market status and performance.

Present Market Standing of DoorDash

• With a trading volume of 1,808,114, the price of DASH is down by -0.79%, reaching $197.41.
• Current RSI values indicate that the stock is may be approaching overbought.
• Next earnings report is scheduled for 36 days from now.

Professional Analyst Ratings for DoorDash

Over the past month, 1 industry analysts have shared their insights on this stock, proposing an average target price of $235.0.

Unusual Options Activity Detected: Smart Money on the Move

Benzinga Edge's Unusual Options board spots potential market movers before they happen. See what positions big money is taking on your favorite stocks. Click here for access. * Maintaining their stance, an analyst from Loop Capital continues to hold a Buy rating for DoorDash, targeting a price of $235.

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.