Behind the Scenes of Doximity's Latest Options Trends

Investors with significant funds have taken a bearish position in Doximity DOCS, a development that retail traders should be aware of.

This was brought to our attention today through our monitoring of publicly accessible options data at Benzinga. The exact nature of these investors remains a mystery, but such a major move in DOCS usually indicates foreknowledge of upcoming events.

Today, Benzinga's options scanner identified 20 options transactions for Doximity. This is an unusual occurrence. The sentiment among these large-scale traders is mixed, with 30% being bullish and 50% bearish. Of all the options we discovered, 19 are puts, valued at $774,673, and there was a single call, worth $100,000.

Predicted Price Range

After evaluating the trading volumes and Open Interest, it's evident that the major market movers are focusing on a price band between $55.0 and $80.0 for Doximity, spanning the last three months.

Analyzing Volume & Open Interest

Looking at the volume and open interest is an insightful way to conduct due diligence on a stock.

This data can help you track the liquidity and interest for Doximity's options for a given strike price.

Below, we can observe the evolution of the volume and open interest of calls and puts, respectively, for all of Doximity's whale activity within a strike price range from $55.0 to $80.0 in the last 30 days.

Doximity Call and Put Volume: 30-Day Overview

Biggest Options Spotted:

About Doximity

Doximity Inc is a digital platform for U.S. medical professionals. Its cloud-based platform provides members with tools specifically built for medical professionals, enabling them to collaborate with their colleagues, securely coordinate patient care, conduct virtual patient visits, stay up-to-date with the latest medical news and research, and manage their careers.

In light of the recent options history for Doximity, it's now appropriate to focus on the company itself. We aim to explore its current performance.

Current Position of Doximity

• Trading volume stands at 584,232, with DOCS's price down by -0.7%, positioned at $65.5.
• RSI indicators show the stock to be may be oversold.
• Earnings announcement expected in 69 days.

What Analysts Are Saying About Doximity

5 market experts have recently issued ratings for this stock, with a consensus target price of $74.4.

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20-year pro options trader reveals his one-line chart technique that shows when to buy and sell. Copy his trades, which have had averaged a 27% profit every 20 days. Click here for access. * An analyst from Goldman Sachs persists with their Neutral rating on Doximity, maintaining a target price of $80. * Maintaining their stance, an analyst from Needham continues to hold a Buy rating for Doximity, targeting a price of $82. * Consistent in their evaluation, an analyst from Mizuho keeps a Neutral rating on Doximity with a target price of $65. * An analyst from Leerink Partners has elevated its stance to Outperform, setting a new price target at $90. * Maintaining their stance, an analyst from Wells Fargo continues to hold a Equal-Weight rating for Doximity, targeting a price of $55.

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 Doximity with Benzinga Pro for real-time alerts.