High-rolling investors have positioned themselves bullish on Dynatrace DT, 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 DT often signals that someone has privileged information.
Today, Benzinga's options scanner spotted 12 options trades for Dynatrace. This is not a typical pattern.
The sentiment among these major traders is split, with 83% bullish and 16% bearish. Among all the options we identified, there was one put, amounting to $45,000, and 11 calls, totaling $712,458.
Expected Price Movements
After evaluating the trading volumes and Open Interest, it's evident that the major market movers are focusing on a price band between $55.0 and $80.0 for Dynatrace, spanning the last three months.
Insights into Volume & Open Interest
In terms of liquidity and interest, the mean open interest for Dynatrace options trades today is 757.8 with a total volume of 20,724.00.
In the following chart, we are able to follow the development of volume and open interest of call and put options for Dynatrace's big money trades within a strike price range of $55.0 to $80.0 over the last 30 days.
Dynatrace 30-Day Option Volume & Interest Snapshot
Biggest Options Spotted:
| Symbol | PUT/CALL | Trade Type | Sentiment | Exp. Date | Strike Price | Total Trade Price | Open Interest | Volume |
|---|---|---|---|---|---|---|---|---|
| DT | CALL | SWEEP | BULLISH | 06/21/24 | $70.00 | $104.9K | 133 | 2.0K |
| DT | CALL | SWEEP | BEARISH | 06/21/24 | $70.00 | $100.0K | 133 | 1.0K |
| DT | CALL | TRADE | BEARISH | 06/21/24 | $70.00 | $93.2K | 133 | 3.5K |
| DT | CALL | SWEEP | BULLISH | 03/15/24 | $60.00 | $90.0K | 195 | 248 |
| DT | CALL | SWEEP | BULLISH | 09/20/24 | $62.50 | $64.8K | 401 | 144 |
About Dynatrace
Dynatrace is a cloud-native company that focuses on analyzing machine data. Its product portfolio, delivered as software as a service, allows a client to monitor and analyze its entire IT infrastructure. Dynatrace's platform can ingest and analyze large amounts of machine-generated data in real time, allowing clients to use it for a variety of applications throughout their businesses.
Following our analysis of the options activities associated with Dynatrace, we pivot to a closer look at the company's own performance.
Dynatrace's Current Market Status
- Trading volume stands at 8,901,152, with DT's price down by -9.63%, positioned at $54.81.
- RSI indicators show the stock to be is currently neutral between overbought and oversold.
- Earnings announcement expected in 0 days.
What Analysts Are Saying About Dynatrace
In the last month, 5 experts released ratings on this stock with an average target price of $68.2.
- An analyst from Rosenblatt persists with their Buy rating on Dynatrace, maintaining a target price of $65.
- An analyst from Truist Securities persists with their Buy rating on Dynatrace, maintaining a target price of $70.
- An analyst from JMP Securities has revised its rating downward to Market Outperform, adjusting the price target to $68.
- An analyst from Needham has decided to maintain their Buy rating on Dynatrace, which currently sits at a price target of $70.
- Consistent in their evaluation, an analyst from JMP Securities keeps a Market Outperform rating on Dynatrace with a target price of $68.
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 Dynatrace, 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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