A Closer Look at DoorDash's Options Market Dynamics

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 15 extraordinary options activities for DoorDash. This level of activity is out of the ordinary.

The general mood among these heavyweight investors is divided, with 66% leaning bullish and 33% bearish. Among these notable options, 5 are puts, totaling $389,244, and 10 are calls, amounting to $670,032.

Latest Startup Investment Opportunities:

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 $95.0 to $140.0 for DoorDash over the last 3 months.

Volume & Open Interest Trends

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 $95.0 to $140.0 in the last 30 days.

DoorDash Option Volume And Open Interest Over Last 30 Days

Noteworthy Options Activity:

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 U.S. Through the acquisition of Wolt in 2022, the firm also provides this service in Europe. DoorDashprovides 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. In 2022, the firm generated $53.4 billion in gross order volume (up 27% year over year) and $6.6 billion in revenue (up 35%).

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

Where Is DoorDash Standing Right Now?

• Trading volume stands at 1,871,980, with DASH's price down by -0.69%, positioned at $118.49.
• RSI indicators show the stock to be may be overbought.
• Earnings announcement expected in 3 days.

What The Experts Say On DoorDash

Over the past month, 4 industry analysts have shared their insights on this stock, proposing an average target price of $128.0.

• An analyst from Roth MKM has decided to maintain their Neutral rating on DoorDash, which currently sits at a price target of $109.
• Maintaining their stance, an analyst from Mizuho continues to hold a Buy rating for DoorDash, targeting a price of $140.
• An analyst from JMP Securities has decided to maintain their Market Outperform rating on DoorDash, which currently sits at a price target of $130.
• Reflecting concerns, an analyst from Needham lowers its rating to Buy with a new price target of $133.

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.