Check Out What Whales Are Doing With DOCU

Author: Benzinga Insights | March 11, 2024 12:01pm

Investors with a lot of money to spend have taken a bullish stance on DocuSign (NASDAQ:DOCU).

And retail traders should know.

We noticed this today when the positions showed up on publicly available options history that we track here at Benzinga.

Whether these are institutions or just wealthy individuals, we don't know. But when something this big happens with DOCU, it often means somebody knows something is about to happen.

Today, Benzinga's options scanner spotted 9 options trades for DocuSign.

This isn't normal.

The overall sentiment of these big-money traders is split between 55% bullish and 44%, bearish.

Out of all of the options we uncovered, there was 1 put, for a total amount of $51,600, and 8, calls, for a total amount of $491,170.

Predicted Price Range

Based on the trading activity, it appears that the significant investors are aiming for a price territory stretching from $52.5 to $75.0 for DocuSign over the recent three months.

Insights into Volume & Open Interest

In terms of liquidity and interest, the mean open interest for DocuSign options trades today is 1515.0 with a total volume of 1,755.00.

In the following chart, we are able to follow the development of volume and open interest of call and put options for DocuSign's big money trades within a strike price range of $52.5 to $75.0 over the last 30 days.

DocuSign 30-Day Option Volume & Interest Snapshot

Significant Options Trades Detected:

Symbol	PUT/CALL	Trade Type	Sentiment	Exp. Date	Strike Price	Total Trade Price	Open Interest	Volume
DOCU	CALL	TRADE	BULLISH	12/19/25	$75.00	$144.0K	189	201
DOCU	CALL	SWEEP	BULLISH	03/15/24	$54.00	$88.2K	1.0K	238
DOCU	CALL	TRADE	BEARISH	04/19/24	$52.50	$76.4K	786	9
DOCU	CALL	SWEEP	BEARISH	06/21/24	$60.00	$57.8K	3.2K	173
DOCU	PUT	TRADE	BULLISH	01/17/25	$55.00	$51.6K	1.9K	101

About DocuSign

DocuSign offers the Agreement Cloud, a broad cloud-based software suite that enables users to automate the agreement process and provide legally binding e-signatures from nearly any device. The company was founded in 2003 and completed its IPO in May 2018.

Where Is DocuSign Standing Right Now?

• Trading volume stands at 3,475,694, with DOCU's price down by -0.37%, positioned at $55.76.
• RSI indicators show the stock to be may be overbought.
• Earnings announcement expected in 87 days.

Expert Opinions on DocuSign

5 market experts have recently issued ratings for this stock, with a consensus target price of $69.0.

• An analyst from RBC Capital has decided to maintain their Sector Perform rating on DocuSign, which currently sits at a price target of $59.
• Maintaining their stance, an analyst from B of A Securities continues to hold a Neutral rating for DocuSign, targeting a price of $72.
• Reflecting concerns, an analyst from JMP Securities lowers its rating to Market Outperform with a new price target of $84.
• Maintaining their stance, an analyst from Piper Sandler continues to hold a Neutral rating for DocuSign, targeting a price of $65.
• An analyst from Wedbush has decided to maintain their Neutral rating on DocuSign, which currently sits at a price target of $65.

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 DocuSign with Benzinga Pro for real-time alerts.

Posted In: DOCU