A Closer Look at DoorDash’s Options Market Dynamics – DoorDash (NASDAQ:DASH)

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 18 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, 3 are puts, totaling $125,935, and 15 are calls, amounting to $1,934,154.

Projected Price Targets

Taking into account the Volume and Open Interest on these contracts, it appears that whales have been targeting a price range from $75.0 to $111.0 for DoorDash over the last 3 months.

Insights into 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 $75.0 to $111.0, over the past month.

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 CALL SWEEP BEARISH 01/19/24 $75.00 $663.2K 1.6K 341
DASH CALL SWEEP BULLISH 01/17/25 $95.00 $212.0K 352 401
DASH CALL SWEEP BULLISH 01/17/25 $95.00 $176.7K 352 40
DASH CALL SWEEP BEARISH 01/19/24 $75.00 $118.9K 1.6K 402
DASH CALL SWEEP BEARISH 01/19/24 $75.00 $117.0K 1.6K 410

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%).

DoorDash’s Current Market Status

  • With a volume of 1,379,981, the price of DASH is down -0.23% at $93.55.
  • RSI indicators hint that the underlying stock may be approaching oversold.
  • Next earnings are expected to be released in 42 days.

Trading options involves greater risks but also offers the potential for higher profits. Savvy traders mitigate these risks through ongoing education, strategic trade adjustments, utilizing various indicators, and staying attuned to market dynamics. Keep up with the latest options trades for DoorDash with Benzinga Pro for real-time alerts.

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