Investors with a lot of money to spend have taken a bullish stance on DoorDash (NASDAQ:DASH).
And retail traders should know.
We noticed this today when the trades 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.
So how do we know what these investors just did?
Today, Benzinga's options scanner spotted 8 uncommon options trades for DoorDash.
This isn't normal.
The overall sentiment of these big-money traders is split between 62% bullish and 37%, bearish.
Out of all of the special options we uncovered, 4 are puts, for a total amount of $126,955, and 4 are calls, for a total amount of $301,714.
Expected Price Movements
Taking into account the Volume and Open Interest on these contracts, it appears that whales have been targeting a price range from $100.0 to $130.0 for DoorDash over the last 3 months.
Volume & Open Interest Trends
In today's trading context, the average open interest for options of DoorDash stands at 322.0, with a total volume reaching 649.00. 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 $100.0 to $130.0, throughout the last 30 days.
DoorDash Option Activity Analysis: Last 30 Days
Largest Options Trades Observed:
| Symbol | PUT/CALL | Trade Type | Sentiment | Exp. Date | Ask | Bid | Price | Strike Price | Total Trade Price | Open Interest | Volume |
|---|---|---|---|---|---|---|---|---|---|---|---|
| DASH | CALL | SWEEP | BULLISH | 02/21/25 | $28.7 | $27.85 | $28.28 | $105.00 | $127.6K | 11 | 83 |
| DASH | CALL | SWEEP | BULLISH | 08/16/24 | $24.5 | $24.0 | $24.35 | $100.00 | $109.8K | 796 | 133 |
| DASH | PUT | SWEEP | BEARISH | 10/18/24 | $3.55 | $3.5 | $3.55 | $115.00 | $44.0K | 487 | 228 |
| DASH | CALL | TRADE | BEARISH | 02/21/25 | $26.2 | $25.9 | $25.9 | $110.00 | $38.8K | 409 | 65 |
| DASH | PUT | TRADE | BULLISH | 10/18/24 | $9.7 | $9.55 | $9.55 | $130.00 | $28.6K | 25 | 61 |
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
Current Position of DoorDash With a volume of 1,882,960, the price of DASH is down -0.32% at $124.36. RSI indicators hint that the underlying stock may be approaching overbought. Next earnings are expected to be released in 82 days.
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.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
