High-rolling investors have positioned themselves bullish on Datadog DDOG, and it's important for retail traders to take note. \This activity came to our attention today through Benzinga's tracking of publicly available options data. The identities of these investors are uncertain, but such a significant move in DDOG often signals that someone has privileged information.
Today, Benzinga's options scanner spotted 8 options trades for Datadog. This is not a typical pattern.
The sentiment among these major traders is split, with 50% bullish and 50% bearish. Among all the options we identified, there was one put, amounting to $80,640, and 7 calls, totaling $351,093.
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 $120.0 to $145.0 for Datadog over the last 3 months.
Insights into Volume & Open Interest
Looking at the volume and open interest is a powerful move while trading options. This data can help you track the liquidity and interest for Datadog's options for a given strike price. Below, we can observe the evolution of the volume and open interest of calls and puts, respectively, for all of Datadog's whale trades within a strike price range from $120.0 to $145.0 in the last 30 days.
Datadog Option Activity Analysis: Last 30 Days
Largest Options Trades Observed:
| Symbol | PUT/CALL | Trade Type | Sentiment | Exp. Date | Strike Price | Total Trade Price | Open Interest | Volume |
|---|---|---|---|---|---|---|---|---|
| DDOG | CALL | SWEEP | BULLISH | 01/19/24 | $120.00 | $120.3K | 3.6K | 350 |
| DDOG | PUT | SWEEP | BEARISH | 01/26/24 | $127.00 | $80.6K | 30 | 322 |
| DDOG | CALL | TRADE | NEUTRAL | 03/01/24 | $145.00 | $62.0K | 1 | 200 |
| DDOG | CALL | TRADE | BULLISH | 04/19/24 | $135.00 | $42.6K | 1.1K | 54 |
| DDOG | CALL | TRADE | BULLISH | 06/21/24 | $120.00 | $36.3K | 1.4K | 22 |
About Datadog
Datadog is a cloud-native company that focuses on analyzing machine data. The firm's product portfolio, delivered as software-as-a-service, allows a client to monitor and analyze its entire IT infrastructure. Datadog's platform can ingest and analyze large amounts of machine-generated data in real time, allowing clients to utilize it for a variety of different applications throughout their businesses.
Following our analysis of the options activities associated with Datadog, we pivot to a closer look at the company's own performance.
Datadog's Current Market Status
- With a trading volume of 1,455,289, the price of DDOG is up by 1.72%, reaching $128.2.
- Current RSI values indicate that the stock is may be approaching overbought.
- Next earnings report is scheduled for 26 days from now.
What Analysts Are Saying About Datadog
Over the past month, 2 industry analysts have shared their insights on this stock, proposing an average target price of $140.0.
- An analyst from BMO Capital has revised its rating downward to Outperform, adjusting the price target to $140.
- An analyst from Truist Securities persists with their Buy rating on Datadog, maintaining a target price of $140.
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 Datadog with Benzinga Pro for real-time alerts.
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
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