A whale with a lot of money to spend has taken a noticeably bearish stance on DocuSign.
Looking at options history for DocuSign DOCU we detected 139 strange trades.
If we consider the specifics of each trade, it is accurate to state that 47.48% of the investors opened trades with bullish expectations and 52.52% with bearish.
From the overall spotted trades, 122 are puts, for a total amount of $21,755,790.00 and 17, calls, for a total amount of $3,084,818.00.
What's The Price Target?
Taking into account the Volume and Open Interest on these contracts, it appears that whales have been targeting a price range from $110.0 to $300.0 for DocuSign over the last 3 months.
Volume & Open Interest Development
In terms of liquidity and interest, the mean open interest for DocuSign options trades today is 871.47 with a total volume of 71,558.00.
In the following chart, we are able to follow the development of volume and open interest of call and put options for DocuSign's big money trades within a strike price range of $110.0 to $300.0 over the last 30 days.
DocuSign Option Volume And Open Interest Over Last 30 Days
Biggest Options Spotted:
| Symbol | PUT/CALL | Trade Type | Sentiment | Exp. Date | Strike Price | Total Trade Price | Open Interest | Volume |
|---|---|---|---|---|---|---|---|---|
| DOCU | PUT | SWEEP | BEARISH | 03/18/22 | $290.00 | $3.9M | 501 | 267 |
| DOCU | PUT | SWEEP | BULLISH | 03/18/22 | $250.00 | $2.8M | 2.6K | 620 |
| DOCU | PUT | SWEEP | BULLISH | 03/18/22 | $250.00 | $2.2M | 2.6K | 891 |
| DOCU | PUT | SWEEP | BULLISH | 12/17/21 | $260.00 | $422.8K | 3.7K | 358 |
| DOCU | PUT | TRADE | BEARISH | 01/20/23 | $220.00 | $401.6K | 1.7K | 531 |
Where Is DocuSign Standing Right Now?
- With a volume of 41,703,575.00, the price of DOCU is down -40.23% at $139.75.
- RSI indicators hint that the underlying stock may be oversold.
- Next earnings are expected to be released in 97 days.
What The Experts Say On DocuSign:
- JP Morgan downgraded its action to Underweight with a price target of $175.0
- Wedbush downgraded its action to Neutral with a price target of $200.0
- Piper Sandler downgraded its action to Neutral with a price target of $200.0
- Wells Fargo has decided to maintain their Equal-Weight rating on DocuSign, which currently sits at a price target of $180.0.
- JMP Securities has decided to maintain their Market Outperform rating on DocuSign, which currently sits at a price target of $307.0.
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 are already an options trader or would like to get started, head on over to Benzinga Pro. Benzinga Pro gives you up-to-date news and analytics to empower your investing and trading strategy.
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