Benzinga | Dec 21, 2021 11:49AM EST

What Are Whales Doing With DocuSign

Someone with a lot of money to spend has taken a bearish stance on DocuSign (NASDAQ:DOCU).

And retail traders should know.

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

Whether this is an institution or just a wealthy individual, we don't know. But when something this big happens with DOCU, it often means somebody knows something is about to happen.

So how do we know what this whale just did?

Today, Benzinga's options scanner spotted 10 uncommon options trades for DocuSign.

This isn't normal.

The overall sentiment of these big-money traders is split between 40% bullish and 60%, bearish.

Out of all of the special options we uncovered, 5 are puts, for a total amount of $203,741, and 5 are calls, for a total amount of $196,064.

What's The Price Target?

Taking into account the Volume and Open Interest on these contracts, it appears that whales have been targeting a price range from $148.0 to $290.0 for DocuSign over the last 3 months.

Volume & Open Interest Development

In terms of liquidity and interest, the mean open interest for DocuSign options trades today is 601.11 with a total volume of 475.00.

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 $148.0 to $290.0 over the last 30 days.

DocuSign Option Volume And Open Interest Over Last 30 Days

Biggest Options Spotted:

Symbol PUT/ Trade Sentiment Exp. Strike Total Trade Open Volume CALL Type Date Price Price InterestDOCU PUT TRADE BULLISH 01/20/ $290.00 $72.2K 117 5 23DOCU CALL TRADE BEARISH 01/20/ $150.00 $64.7K 2.3K 24 23DOCU PUT TRADE NEUTRAL 12/23/ $240.00 $45.0K 10 5 21DOCU CALL TRADE BULLISH 06/17/ $150.00 $43.1K 540 21 22DOCU PUT TRADE BULLISH 12/23/ $215.00 $32.1K 211 24 21

Where Is DocuSign Standing Right Now?

* With a volume of 1,184,373, the price of DOCU is up 2.44% at $151.67.

* RSI indicators hint that the underlying stock may be approaching oversold.

* Next earnings are expected to be released in 79 days.

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 are already an options trader or would like to get started, head on over to Benzinga Pro. Benzinga Pro gives you up-to-date news and analytics to empower your investing and trading strategy.