Investors with a lot of money to spend have taken a bearish 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 9 uncommon options trades for DoorDash.
This isn't normal.
The overall sentiment of these big-money traders is split between 22% bullish and 66%, bearish.
Out of all of the special options we uncovered, 5 are puts, for a total amount of $653,618, and 4 are calls, for a total amount of $117,099.
Projected Price Targets
After evaluating the trading volumes and Open Interest, it's evident that the major market movers are focusing on a price band between $80.0 and $160.0 for DoorDash, spanning the last three months.
Volume & Open Interest Trends
Assessing the volume and open interest is a strategic step in options trading. These metrics shed light on the liquidity and investor interest in DoorDash's options at specified strike prices. The forthcoming data visualizes the fluctuation in volume and open interest for both calls and puts, linked to DoorDash's substantial trades, within a strike price spectrum from $80.0 to $160.0 over the preceding 30 days.
DoorDash Option Activity Analysis: Last 30 Days
Significant Options Trades Detected:
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.
After a thorough review of the options trading surrounding DoorDash, we move to examine the company in more detail. This includes an assessment of its current market status and performance.
Current Position of DoorDash
- With a volume of 1,598,071, the price of DASH is down -1.69% at $125.03.
- RSI indicators hint that the underlying stock may be oversold.
- Next earnings are expected to be released in 9 days.
What Analysts Are Saying About DoorDash
Over the past month, 5 industry analysts have shared their insights on this stock, proposing an average target price of $152.0.
- An analyst from Truist Securities has decided to maintain their Buy rating on DoorDash, which currently sits at a price target of $155.
- An analyst from Deutsche Bank has decided to maintain their Buy rating on DoorDash, which currently sits at a price target of $155.
- Maintaining their stance, an analyst from Wells Fargo continues to hold a Equal-Weight rating for DoorDash, targeting a price of $125.
- Consistent in their evaluation, an analyst from JMP Securities keeps a Market Outperform rating on DoorDash with a target price of $160.
- Reflecting concerns, an analyst from Benchmark lowers its rating to Buy with a new price target of $165.
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.
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