Spotlight on DoorDash: Analyzing the Surge in Options Activity

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 10 uncommon options trades for DoorDash.

This isn't normal.

The overall sentiment of these big-money traders is split between 60% bullish and 30%, bearish.

Out of all of the special options we uncovered, 7 are puts, for a total amount of $592,187, and 3 are calls, for a total amount of $569,000.

Expected Price Movements

After evaluating the trading volumes and Open Interest, it's evident that the major market movers are focusing on a price band between $120.0 and $210.0 for DoorDash, spanning the last three months.

Volume & Open Interest Development

Examining the volume and open interest provides crucial insights into stock research. This information is key in gauging liquidity and interest levels for DoorDash's options at certain strike prices. Below, we present a snapshot of the trends in volume and open interest for calls and puts across DoorDash's significant trades, within a strike price range of $120.0 to $210.0, over the past month.

DoorDash Option Volume And Open Interest Over Last 30 Days

Biggest Options Spotted:

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.

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.

Present Market Standing of DoorDash

• With a volume of 1,885,515, the price of DASH is down -5.97% at $177.96.
• RSI indicators hint that the underlying stock is currently neutral between overbought and oversold.
• Next earnings are expected to be released in 34 days.

Professional Analyst Ratings for DoorDash

In the last month, 1 experts released ratings on this stock with an average target price of $201.0.

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 Wells Fargo continues to hold a Equal-Weight rating for DoorDash, targeting a price of $201.

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.