What the Options Market Tells Us About DoorDash
Financial giants have made a conspicuous bearish move on DoorDash. Our analysis of options history for DoorDash DASH revealed 9 unusual trades.
Delving into the details, we found 22% of traders were bullish, while 66% showed bearish tendencies. Out of all the trades we spotted, 2 were puts, with a value of $74,850, and 7 were calls, valued at $241,460.
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 $135.0 to $160.0 for DoorDash over the last 3 months.
Analyzing Volume & Open Interest
Examining the volume and open interest provides crucial insights into stock research. This information is key in gauging liquidity and interest levels for DoorDash’s options at certain strike prices. Below, we present a snapshot of the trends in volume and open interest for calls and puts across DoorDash’s significant trades, within a strike price range of $135.0 to $160.0, over the past month.
DoorDash 30-Day Option Volume & Interest Snapshot
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 | BEARISH | 01/17/25 | $14.0 | $13.5 | $13.5 | $140.00 | $48.6K | 4.7K | 141 |
| DASH | PUT | SWEEP | BULLISH | 10/18/24 | $17.8 | $17.5 | $17.5 | $160.00 | $42.0K | 1 | 24 |
| DASH | CALL | SWEEP | BEARISH | 01/17/25 | $14.25 | $14.0 | $14.0 | $140.00 | $40.6K | 4.7K | 70 |
| DASH | CALL | SWEEP | BEARISH | 01/17/25 | $16.25 | $16.1 | $16.1 | $135.00 | $33.8K | 1.3K | 23 |
| DASH | PUT | SWEEP | BEARISH | 10/18/24 | $18.25 | $17.95 | $18.25 | $160.00 | $32.8K | 1 | 39 |
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.
In light of the recent options history for DoorDash, it’s now appropriate to focus on the company itself. We aim to explore its current performance.
DoorDash’s Current Market Status
- Trading volume stands at 933,237, with DASH’s price down by -0.33%, positioned at $141.76.
- RSI indicators show the stock to be may be overbought.
- Earnings announcement expected in 30 days.
What The Experts Say On DoorDash
5 market experts have recently issued ratings for this stock, with a consensus target price of $162.4.
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.
* An analyst from Keybanc has elevated its stance to Overweight, setting a new price target at $177.
* An analyst from JMP Securities has decided to maintain their Market Outperform rating on DoorDash, which currently sits at a price target of $160.
* Reflecting concerns, an analyst from Raymond James lowers its rating to Outperform with a new price target of $155.
* An analyst from Cantor Fitzgerald downgraded its action to Overweight with a price target of $160.
* An analyst from Oppenheimer has decided to maintain their Outperform rating on DoorDash, which currently sits at a price target of $160.
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.
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