Deep-pocketed investors have adopted a bullish approach towards DoorDash DASH, and it's something market players shouldn't ignore. Our tracking of public options records at Benzinga unveiled this significant move today. The identity of these investors remains unknown, but such a substantial move in DASH usually suggests something big is about to happen.
We gleaned this information from our observations today when Benzinga's options scanner highlighted 16 extraordinary options activities for DoorDash. This level of activity is out of the ordinary.
The general mood among these heavyweight investors is divided, with 50% leaning bullish and 50% bearish. Among these notable options, 5 are puts, totaling $465,032, and 11 are calls, amounting to $831,777.
Expected Price Movements
Based on the trading activity, it appears that the significant investors are aiming for a price territory stretching from $68.0 to $95.0 for DoorDash over the recent three months.
Volume & Open Interest Development
In terms of liquidity and interest, the mean open interest for DoorDash options trades today is 1175.09 with a total volume of 2,654.00.
In the following chart, we are able to follow the development of volume and open interest of call and put options for DoorDash's big money trades within a strike price range of $68.0 to $95.0 over the last 30 days.
DoorDash 30-Day Option Volume & Interest Snapshot
Significant Options Trades Detected:
| Symbol | PUT/CALL | Trade Type | Sentiment | Exp. Date | Strike Price | Total Trade Price | Open Interest | Volume |
|---|---|---|---|---|---|---|---|---|
| DASH | CALL | SWEEP | BEARISH | 11/17/23 | $80.00 | $443.2K | 3.2K | 470 |
| DASH | PUT | SWEEP | BULLISH | 12/01/23 | $90.00 | $212.5K | 7 | 0 |
| DASH | PUT | TRADE | BEARISH | 12/01/23 | $90.00 | $147.7K | 7 | 1.0K |
| DASH | CALL | SWEEP | BEARISH | 01/19/24 | $85.00 | $75.2K | 2.2K | 264 |
| DASH | CALL | SWEEP | BULLISH | 02/16/24 | $95.00 | $70.7K | 242 | 11 |
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 U.S. Through the acquisition of Wolt in 2022, the firm also provides this service in Europe. DoorDashprovides 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. In 2022, the firm generated $53.4 billion in gross order volume (up 27% year over year) and $6.6 billion in revenue (up 35%).
Current Position of DoorDash
- With a trading volume of 2,120,853, the price of DASH is down by -0.31%, reaching $87.2.
- Current RSI values indicate that the stock is may be approaching overbought.
- Next earnings report is scheduled for 94 days from now.
Options trading presents higher risks and potential rewards. Astute traders manage these risks by continually educating themselves, adapting their strategies, monitoring multiple indicators, and keeping a close eye on market movements. Stay informed about the latest DoorDash options trades with real-time alerts from Benzinga Pro.
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
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