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 8 extraordinary options activities for DoorDash. This level of activity is out of the ordinary.
The general mood among these heavyweight investors is divided, with 62% leaning bullish and 25% bearish. Among these notable options, 3 are puts, totaling $208,340, and 5 are calls, amounting to $281,365.
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 $103.0 to $125.0 for DoorDash over the last 3 months.
Analyzing Volume & Open Interest
In terms of liquidity and interest, the mean open interest for DoorDash options trades today is 639.83 with a total volume of 288.00.
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 $103.0 to $125.0 over the last 30 days.
DoorDash Call and Put Volume: 30-Day Overview
Largest Options Trades Observed:
| Symbol | PUT/CALL | Trade Type | Sentiment | Exp. Date | Ask | Bid | Price | Strike Price | Total Trade Price | Open Interest | Volume |
|---|---|---|---|---|---|---|---|---|---|---|---|
| DASH | PUT | SWEEP | BULLISH | 09/20/24 | $10.15 | $10.1 | $10.1 | $110.00 | $142.4K | 252 | 0 |
| DASH | CALL | SWEEP | BEARISH | 11/15/24 | $5.55 | $5.5 | $5.5 | $125.00 | $70.4K | 2.3K | 1 |
| DASH | CALL | TRADE | BULLISH | 11/15/24 | $7.9 | $7.7 | $7.86 | $120.00 | $62.8K | 410 | 2 |
| DASH | CALL | SWEEP | BULLISH | 11/15/24 | $5.5 | $5.3 | $5.5 | $125.00 | $62.7K | 2.3K | 139 |
| DASH | CALL | TRADE | BEARISH | 07/26/24 | $5.1 | $4.65 | $4.65 | $103.00 | $46.5K | 224 | 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
Present Market Standing of DoorDash
- Currently trading with a volume of 1,644,504, the DASH's price is up by 0.33%, now at $106.45.
- RSI readings suggest the stock is currently is currently neutral between overbought and oversold.
- Anticipated earnings release is in 10 days.
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.
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
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