Investors with a lot of money to spend have taken a bearish stance on DoorDash DASH.
And retail traders should know.
We noticed this today when the positions 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.
Today, Benzinga's options scanner spotted 10 options trades for DoorDash.
This isn't normal.
The overall sentiment of these big-money traders is split between 40% bullish and 50%, bearish.
Out of all of the options we uncovered, there was 1 put, for a total amount of $78,110, and 9, calls, for a total amount of $377,850.
What's The Price Target?
After evaluating the trading volumes and Open Interest, it's evident that the major market movers are focusing on a price band between $105.0 and $121.0 for DoorDash, spanning the last three months.
Insights into Volume & Open Interest
In today's trading context, the average open interest for options of DoorDash stands at 1059.43, with a total volume reaching 680.00. The accompanying chart delineates the progression of both call and put option volume and open interest for high-value trades in DoorDash, situated within the strike price corridor from $105.0 to $121.0, throughout the last 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 | BEARISH | 08/02/24 | $6.4 | $6.15 | $6.23 | $106.00 | $99.7K | 0 | 0 |
| DASH | PUT | SWEEP | BEARISH | 07/19/24 | $3.65 | $3.5 | $3.65 | $110.00 | $78.1K | 3.7K | 3 |
| DASH | CALL | SWEEP | BEARISH | 08/02/24 | $6.35 | $6.1 | $6.25 | $106.00 | $72.2K | 0 | 0 |
| DASH | CALL | SWEEP | BULLISH | 06/20/25 | $14.8 | $14.2 | $14.8 | $120.00 | $37.0K | 202 | 0 |
| DASH | CALL | SWEEP | BULLISH | 07/26/24 | $3.45 | $2.92 | $3.34 | $105.00 | $33.2K | 14 | 1 |
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?
- Trading volume stands at 1,027,587, with DASH's price down by -4.19%, positioned at $104.38.
- RSI indicators show the stock to be is currently neutral between overbought and oversold.
- Earnings announcement expected in 22 days.
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.
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
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