27% profits every 20 days?
This is what Nic Chahine averages with his options buys. Not selling covered calls or spreads... BUYING options. Most traders don't even have a winning percentage of 27% buying options. He has an 83% win rate. Here's how he does it.
A whale with a lot of money to spend has taken a noticeably bearish stance on DoorDash.
Looking at options history for DoorDash (NYSE:DASH) we detected 12 strange trades.
If we consider the specifics of each trade, it is accurate to state that 41% of the investors opened trades with bullish expectations and 58% with bearish.
From the overall spotted trades, 7 are puts, for a total amount of $3,528,247 and 5, calls, for a total amount of $519,010.
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 $45.0 to $70.0 for DoorDash over the last 3 months.
Volume & Open Interest Development
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 DoorDash'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 DoorDash's whale activity within a strike price range from $45.0 to $70.0 in the last 30 days.
DoorDash Option Volume And Open Interest Over Last 30 Days
Biggest Options Spotted:
| Symbol | PUT/CALL | Trade Type | Sentiment | Exp. Date | Strike Price | Total Trade Price | Open Interest | Volume |
|---|---|---|---|---|---|---|---|---|
| DASH | PUT | SWEEP | BEARISH | 08/18/23 | $60.00 | $1.6M | 1.5K | 5.0K |
| DASH | PUT | SWEEP | BEARISH | 11/17/23 | $65.00 | $853.3K | 95 | 1.0K |
| DASH | PUT | SWEEP | BEARISH | 01/19/24 | $65.00 | $739.0K | 2.6K | 811 |
| DASH | CALL | SWEEP | BULLISH | 08/18/23 | $65.00 | $197.4K | 1.4K | 389 |
| DASH | PUT | SWEEP | BEARISH | 08/18/23 | $65.00 | $164.3K | 746 | 445 |
Where Is DoorDash Standing Right Now?
- With a volume of 1,372,792, the price of DASH is up 3.43% at $67.53.
- RSI indicators hint that the underlying stock may be approaching overbought.
- Next earnings are expected to be released in 63 days.
What The Experts Say On DoorDash:
- DA Davidson has decided to maintain their Neutral rating on DoorDash, which currently sits at a price target of $72.
- Truist Securities has decided to maintain their Buy rating on DoorDash, which currently sits at a price target of $105.
- Barclays has decided to maintain their Equal-Weight rating on DoorDash, which currently sits at a price target of $75.
- JMP Securities downgraded its action to Market Outperform with a price target of $100
- Needham downgraded its action to Buy with a price target of $84
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.
27% profits every 20 days?
This is what Nic Chahine averages with his options buys. Not selling covered calls or spreads... BUYING options. Most traders don't even have a winning percentage of 27% buying options. He has an 83% win rate. Here's how he does it.
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