Spotlight on DoorDash: Analyzing the Surge in Options Activity

Whales with a lot of money to spend have taken a noticeably bearish stance on DoorDash.

Looking at options history for DoorDash DASH we detected 12 trades.

If we consider the specifics of each trade, it is accurate to state that 25% of the investors opened trades with bullish expectations and 66% with bearish.

From the overall spotted trades, 10 are puts, for a total amount of $2,100,358 and 2, calls, for a total amount of $60,260.

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Projected Price Targets

Based on the trading activity, it appears that the significant investors are aiming for a price territory stretching from $180.0 to $220.0 for DoorDash over the recent three months.

Analyzing Volume & Open Interest

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 $180.0 to $220.0 over the preceding 30 days.

DoorDash Option Volume And Open Interest Over Last 30 Days

Significant Options Trades Detected:

About DoorDash

Founded in 2013 and headquartered in San Francisco, DoorDash is an online delivery demand aggregator. Consumers can use its app to order food items on-demand for delivery or in-store from merchants. Through the acquisition of Wolt in 2022, the firm also provides this service in Europe and Asia. DoorDash creates a marketplace for merchants to establish a presence online, market their offerings, and meet demand through delivery. The firm provides similar service to nonrestaurant businesses, such as grocery, retail, and pet supplies. Dash is also rolling out nascent technology like drone delivery in an effort to continually innovate and provide the best possible service to supply-side and demand-side contingents of its marketplace.

Following our analysis of the options activities associated with DoorDash, we pivot to a closer look at the company's own performance.

Present Market Standing of DoorDash

• With a volume of 1,723,479, the price of DASH is down -0.49% at $196.84.
• RSI indicators hint that the underlying stock may be approaching overbought.
• Next earnings are expected to be released in 78 days.

What Analysts Are Saying About DoorDash

In the last month, 5 experts released ratings on this stock with an average target price of $211.6.

Unusual Options Activity Detected: Smart Money on the Move

Benzinga Edge's Unusual Options board spots potential market movers before they happen. See what positions big money is taking on your favorite stocks. Click here for access. * Maintaining their stance, an analyst from Needham continues to hold a Buy rating for DoorDash, targeting a price of $230. * In a cautious move, an analyst from RBC Capital downgraded its rating to Outperform, setting a price target of $230. * Consistent in their evaluation, an analyst from DA Davidson keeps a Neutral rating on DoorDash with a target price of $190. * Consistent in their evaluation, an analyst from Wells Fargo keeps a Equal-Weight rating on DoorDash with a target price of $198. * An analyst from Cantor Fitzgerald has revised its rating downward to Overweight, adjusting the price target to $210.

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.