Financial giants have made a conspicuous bullish move on DoorDash. Our analysis of options history for DoorDash DASH revealed 20 unusual trades. Delving into the details, we found 65% of traders were bullish, while 35% showed bearish tendencies. Out of all the trades we spotted, 6 were puts, with a value of $228,440, and 14 were calls, valued at $771,952.
Based on the trading activity, it appears that the significant investors are aiming for a price territory stretching from $100.0 to $165.0 for DoorDash over the recent three months.
In terms of liquidity and interest, the mean open interest for DoorDash options trades today is 521.15 with a total volume of 5,328.00. In the following chart, we are able to follow the development of volume and open interest of call and put options for DoorDash’s big money trades within a strike price range of $100.0 to $165.0 over the last 30 days.
Largest Options Trades Observed:
Symbol PUT/CALL Trade Type Sentiment Exp. Date Strike Price Total Trade Price Open Interest Volume
DASH CALL TRADE BULLISH 02/23/24 $115.00 $113.0K 1.7K 1.0K
DASH CALL TRADE BULLISH 02/23/24 $115.00 $93.1K 1.7K 342
DASH CALL TRADE BULLISH 02/23/24 $115.00 $81.2K 1.7K 836
DASH PUT SWEEP BULLISH 06/21/24 $125.00 $75.0K 144 60
DASH CALL TRADE BULLISH 02/23/24 $115.00 $66.5K 1.7K 449
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. 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 2023, the firm generated $66.8 billion in gross order volume (up 25% year over year) and $8.6 billion in revenue (up 31%).
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.
Where Is DoorDash Standing Right Now?
Currently trading with a volume of 4,043,187, the DASH’s price is up by 6.59%, now at $122.25.
RSI readings suggest the stock is currently may be approaching overbought.
Anticipated earnings release is in 70 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 $134.8.
In a cautious move, an analyst from JMP Securities downgraded its rating to Market Outperform, setting a price target of $130.
Maintaining their stance, an analyst from Mizuho continues to hold a Buy rating for DoorDash, targeting a price of $152.
An analyst from Oppenheimer persists with their Outperform rating on DoorDash, maintaining a target price of $140.
An analyst from RBC Capital has decided to maintain their Sector Perform rating on DoorDash, which currently sits at a price target of $130.
Consistent in their evaluation, an analyst from Goldman Sachs keeps a Neutral rating on DoorDash with a target price of $122.
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.
