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 63% bullish and 36%, bearish.
Out of all of the special options we uncovered, 3 are puts, for a total amount of $250,678, and 8 are calls, for a total amount of $496,305.
Predicted Price Range
Analyzing the Volume and Open Interest in these contracts, it seems that the big players have been eyeing a price window from $60.0 to $125.0 for Datadog during the past quarter.
Volume & Open Interest Trends
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 $60.0 to $125.0 in the last 30 days.
Datadog Option Volume And Open Interest Over 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 | 12/01/23 | $110.00 | $213.0K | 1.1K | 344 |
| DDOG | PUT | TRADE | BULLISH | 01/19/24 | $100.00 | $159.2K | 4.8K | 19 |
| DDOG | CALL | SWEEP | BULLISH | 06/21/24 | $125.00 | $55.2K | 464 | 90 |
| DDOG | PUT | SWEEP | BULLISH | 01/19/24 | $115.00 | $54.9K | 941 | 6 |
| DDOG | CALL | TRADE | NEUTRAL | 01/19/24 | $95.00 | $46.2K | 1.1K | 20 |
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.
In light of the recent options history for Datadog, it's now appropriate to focus on the company itself. We aim to explore its current performance.
Datadog's Current Market Status
- With a trading volume of 1,395,312, the price of DDOG is up by 0.81%, reaching $115.16.
- Current RSI values indicate that the stock is may be overbought.
- Next earnings report is scheduled for 78 days from now.
Expert Opinions on Datadog
Over the past month, 5 industry analysts have shared their insights on this stock, proposing an average target price of $114.6.
- An analyst from Mizuho has revised its rating downward to Neutral, adjusting the price target to $108.
- An analyst from Truist Securities has decided to maintain their Buy rating on Datadog, which currently sits at a price target of $120.
- An analyst from Morgan Stanley persists with their Overweight rating on Datadog, maintaining a target price of $110.
- An analyst from Raymond James persists with their Outperform rating on Datadog, maintaining a target price of $115.
- An analyst from RBC Capital has decided to maintain their Outperform rating on Datadog, which currently sits at a price target of $120.
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 want to stay updated on the latest options trades for Datadog, Benzinga Pro gives you real-time options trades alerts.
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
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