Investors with a lot of money to spend have taken a bullish stance on Datadog DDOG.
And retail traders should know.
We noticed this today when the trades 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 DDOG, it often means somebody knows something is about to happen.
So how do we know what these investors just did?
Today, Benzinga's options scanner spotted 11 uncommon options trades for Datadog.
This isn't normal.
The overall sentiment of these big-money traders is split between 54% bullish and 36%, bearish.
Out of all of the special options we uncovered, 5 are puts, for a total amount of $159,913, and 6 are calls, for a total amount of $885,685.
What's The Price Target?
After evaluating the trading volumes and Open Interest, it's evident that the major market movers are focusing on a price band between $115.0 and $135.0 for Datadog, spanning the last three months.
Analyzing Volume & Open Interest
Looking at the volume and open interest is an insightful way to conduct due diligence on a stock.
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 activity within a strike price range from $115.0 to $135.0 in the last 30 days.
Datadog Option Volume And Open Interest Over Last 30 Days
Biggest Options Spotted:
| Symbol | PUT/CALL | Trade Type | Sentiment | Exp. Date | Ask | Bid | Price | Strike Price | Total Trade Price | Open Interest | Volume |
|---|---|---|---|---|---|---|---|---|---|---|---|
| DDOG | CALL | TRADE | BULLISH | 08/16/24 | $6.8 | $6.6 | $6.73 | $125.00 | $336.5K | 1.8K | 45 |
| DDOG | CALL | TRADE | BEARISH | 08/16/24 | $3.35 | $3.05 | $3.15 | $135.00 | $220.5K | 6.7K | 114 |
| DDOG | CALL | TRADE | BEARISH | 07/26/24 | $10.0 | $8.25 | $8.73 | $115.00 | $174.6K | 15 | 0 |
| DDOG | CALL | TRADE | BULLISH | 08/09/24 | $8.9 | $7.9 | $8.65 | $121.00 | $70.0K | 1 | 86 |
| DDOG | CALL | TRADE | BULLISH | 08/16/24 | $4.9 | $4.8 | $4.9 | $130.00 | $48.5K | 3.0K | 75 |
About Datadog
Datadog is a cloud-native company that focuses on analyzing machine data. The firm's product portfolio, delivered via 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 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
- Currently trading with a volume of 2,126,310, the DDOG's price is down by -6.09%, now at $122.81.
- RSI readings suggest the stock is currently may be approaching overbought.
- Anticipated earnings release is in 20 days.
Expert Opinions on Datadog
5 market experts have recently issued ratings for this stock, with a consensus target price of $157.0.
- Reflecting concerns, an analyst from Needham lowers its rating to Buy with a new price target of $165.
- Consistent in their evaluation, an analyst from Loop Capital keeps a Buy rating on Datadog with a target price of $160.
- An analyst from Mizuho has elevated its stance to Outperform, setting a new price target at $155.
- An analyst from Wedbush downgraded its action to Outperform with a price target of $155.
- An analyst from Evercore ISI Group downgraded its action to Outperform with a price target of $150.
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.
Comments
Date of Trade | ticker | Put/Call | Strike Price | DTE | Sentiment |
|---|
Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.
